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WORKERS RALLY TO PROTEST MERRILL LYNCH DESTROYING BUSINESS

 WORKERS RALLY TO PROTEST MERRILL LYNCH DESTROYING BUSINESS
 CRANFORD, N.J., May 7 /PRNewswire/ -- Workers employed at Rowe International, Inc. a Whippany, N.J. based manufacturer of vending machines, will demonstrate outside the plant at 75 Troy Hills Road, Whippany, N.J.
 The protest centers around a plan by Merrill Lynch Capitol Partners, Inc., the principal shareholders of Rowe, to dismantle the business and sell off the assets to a Texas firm. "This is the kind of greed-based decision that is creating the permanent underclass in America," said Joseph Cetti, president of United Auto Worker's Local 950. UAW Local 950 represents the 240 hourly workers at Rowe. The plant's workforce is composed of white, black and Hispanic workers who will lose their jobs if the Merrill Lynch plan is implemented.
 The union is protesting the planned sale of assets by Merrill Lynch to a Texas based company called C-Power. Jim Gang, the CEO of Rowe, is also the CEO of C-Power. Merrill Lynch will be a partner with C-Power. "This is free enterprise greed at its worst" said Bill Kane, UAW New Jersey area director. "We are faced with an insane situation where Merrill Lynch is buying Rowe from themselves with a new partner who happens to be the CEO at Rowe in addition to his role at C-Power. They will dismantle the company, put people out of good paying jobs and probably destroy the business. But a few will walk away rich. And to top it off, they are probably using Union pension funds that have been invested in Merrill Lynch. You want to know why there is unrest in America? This is the kind of actions that create chaos in our society."
 The UAW Local 950 members will be supported by other UAW members throughout New Jersey and by others Unions represented by the New Jersey Industrial Union Council. About 500 protesters are expected to attend.
 The rally is scheduled as follows:
 TIME: Friday, May 8,
 Noon
 PLACE: Rowe International
 75 Troy Hills Road
 Whippany, N.J.
 -0- 5/7/92
 /CONTACT: Joe Cetti, president of UAW Local 950, 201-887-0400, ext. 4418/ CO: UAW Local 950 ST: New Jersey IN: SU:


SH-OS -- NY086 -- 7747 05/07/92 15:21 EDT
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Publication:PR Newswire
Date:May 7, 1992
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