The next target in the battle against unions -- pensions

Here’s the next target in the growing battle against labor unions – pensions for state government workers.

But this time, a billionaire hedge fund manager who is a Barack Obama campaign donor is leading the charge, starting in Rhode Island.

The Wall Street Journal reported this:

“But little known is that a key player in the campaign to curtail pension costs in Rhode Island was financed, in large part, by a Houston billionaire who sees the state as an opening salvo in a quest to transform retirement systems nationwide.

Arnold

“John Arnold, a 38-year-old former Enron Corp. natural-gas trader who later founded his own hedge fund, and his wife, Laura, were major donors to EngageRI, a group led by Rhode Island business leaders that pushed for the pension changes.

“The Arnolds made contributions to EngageRI in the six figures but totaling "less than half a million dollars," said a spokesman for the couple.”

Rhode Island is one of about 25 cities and states where the Arnolds, either through their foundation or their political advocacy group, have stepped into the pension fray, according to WSJ.

Over the past two years, the Arnold Foundation spent more than $7 million on pension-related issues and is expanding its effort nationwide, said Josh McGee, vice president of public accountability for the foundation.