protesters target Bank of America

A group of about a dozen protesters gathered outside the Bank of America branch in downtown Portsmouth on March 19 to rally against corporate greed and express support for President Barack Obama’s budget proposal.

The protesters accuse Bank of America’s executives of lining their own pockets with billions of federal bailout dollars funded by taxpayers. The bank collected $45 billion from the Troubled Asset Relief Program.

“The bailout money was supposed to increase the liquidity of the market. All we keep hearing about are these mega bonuses that these top CEOs and major players are getting,” said protester Steve Johnson. “It’s just a little unconscionable.”

The rally was held in conjunction with other protests at offices of major banks across the nation, including 12 other protests in New Hampshire, Johnson said. A member of the Seacoast for Change network, he partnered with New Hampshire for Health Care to organize the local protest. He alleged that Bank of America does not treat its employees well but offers lavish pay to executives.

“When a bank teller makes $10.50 an hour and the president of the company makes $4,800 an hour, there’s a huge disparity there,” Johnson said.

The protesters also accuse Bank of America of charging the highest fees of any bank in the United States while limiting its consumer and small business lending. They say Bank of America has lain off 35,000 workers.

The protesters in Market Square handed out flyers encouraging people to support President Obama’s budget to increase the accessibility of quality health care. They’re also pushing for Congress to pass the Employee Free Choice Act, which is aimed at protecting labor unions and eliminating unfair labor practices. The group encouraged people to contact Senators Jeanne Shaheen and Judd Gregg and urge them to push for strong banking reforms.

To reach Congress and voice support for Obama’s budget and other issues, call 800-577-1635.

keeping N.H. graduates in N.H.

A number of major organizations have partnered to advance the 55% Initiative, an effort aimed at encouraging at least 55 percent of New Hampshire’s graduating college and university students to start their careers in the state. 

Research has found that a large percentage of students leave New Hampshire after graduating from institutions here. The trend has made it difficult for many employers in the state to find recent graduates to fill positions at their organizations.

The University System of New Hampshire helped launch the 55% Initiative in 2007. Comcast, Fidelity Investments, Northeast Delta Dental, the New Hampshire Department of Resources and Economic Development and SilverTech have since signed on to form The Charter Partners, providing $60,000 in financial and in-kind support for the effort.

The Charter Partners’ funds are being used to launch a “Stay Work Play” Web site with research and promotional materials about keeping grads in New Hampshire. The site will be launched in the fall. For more information, visit www.usnh.edu/initiatives/55.shtml.