LRR Focus: The Fight to End the ESOP Rip-Off at Cone Mills

Abstract

[Excerpt] If you own a pair of Levi's jeans, chances are you are wearing denim made by members of the Amalgamated Clothing and Textile Workers Union. ACTWU represents 2,400 employees of Cone Mills, the world's largest producer of denim. For 90 years, Cone was a typical conservative Southern textile manufacturer, but all of that changed when the company became the target of a hostile takeover.