Swedish Trade Union Confederation

"The issue of the funds, which was raised at the Metal Workers’ Union congress in 1972, originated from widespread dissatisfaction that the Swedish Trade Union Confederation’s (LO) solidaristic wage policy led to the creation of “excess profits” in the most successful companies. The union saw these “excess profits” as an underutilized pay space that should benefit the workers. To achieve this and at the same time increase “economic democracy,” companies would be forced to set aside a certain percentage of profits into wage-earner funds every year. The money would be paid out in the form of newly issued shares."

"It is a crucial moment in his career, no matter how reluctantly he faces it. His and his father’s life’s work is being questioned. If he fails to suppress this scandal, decades of hard work may crumble. The program’s softly rumbling trumpet fanfare starts, and a rotating shredded A for Aktuellt appears on the screen. Host Lars Adaktusson looks stern. The labor movement reacts strongly to SVT's documentary on child labor. Several cabinet ministers want to boycott H&M. In a longer interview, the chairman of the Swedish Trade Union Confederation, Bertil Jonsson, considers urging pension funds where the Trade Union Confederation is on the board to also sell their H&M shares, including the Fourth AP Fund which owns five percent of H&M. Stefan Persson is in Africa, but is available on the phone. A photo of 50-year-old Stefan Persson in a brown jacket, white shirt, and tie is shown in the image."