Hedge Clippers Stage Protest at Hedge Fund Conference

April 14, 2015 James Heinsman In the News

A protest union group called “Hedge Clippers” disrupted a well-attended hedge fund conference held in midtown Manhattan on Monday. The group was demanding from certain investors that they help them to create “fair wages” for workers in restaurant chains such as McDonald’s and Darden Restaurants.

The protestors shouted slogans such as, “Bill Ackman, show me $15,” referring to the wage they would like to see for workers, and the billionaire who runs Pershing Square Capital.

They also chanted, “Hedge fun billionaires, pay your fair share,” meaning that the fund managers should pay the 15 percent capital gains tax levied on long-term investments.

The shouting interrupted a session of the 2015 Active-Passive Investor Summit which featured Joele Frank, the head of a crisis public relations firm that defends companies from activist investors. The summit itself was hosted by the research firm 13D Monitor. The 20 minute protest was cut short when the group dispersed in response to threats of police intervention.

Charles Kahn, spokesman for the group, said that theyare targeting Ackman, Jeff Smith of Starboard Group and Nelson Peltz of the Trian hedge fund due to their current and past investments in Darden, Burger King, Wendy’s and McDonald’s.

“So many people are making money, literally, on the misery of workers,” Khan told USA TODAY.

Bill Ackman, Charles Kahn, Hedge Clippers, restaurant chains, wages,

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