AFL-CIO to Invest in New Orleans Rebuilding
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From the Associated Press
The AFL-CIO plans to invest $700 million in housing and other projects to help rebuild New Orleans, which was left with housing shortages and other infrastructure problems after Hurricane Katrina.
The money will come from the union federation’s pension fund and its lenders, investments that should make money for the fund while aiding the city, AFL-CIO President John Sweeney said. It also will create union jobs in a region with an enormous number of construction projects.
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