KIDDER, PEABODY DEFENDS EMPLOYEE DRUG TESTING
Kidder, Peabody and Co vice president
Edward Weihenmayer said his company was giving drug tests to
all employees to make sure its funds and assets were being
handled properly.
    "Drugs are easily available in the Wall Street area,"
Weihenmayer told the Senate Judiciary Committee. "We move
billions of dollars around in tens of thousands of transactions
daily and have a legitimate interest in the safety and security
of those assets."
    He said customers had a right to expect that their funds
were being handled by sober and drug-free professionals.
    Weihenmayer said almost all Wall Street firms were testing
new employees and many were testing all workers.
    He said Kidder, Peabody would try to help anyone found to
be using drugs, but those who failed a second test would almost
certainly be fired.
   "Our objective is to strive for a drug-free enviroment," he
said.
    Committee chairman Joseph Biden said drug tests posed a
difficult problem in balancing the rights of workers with the
need for companies to eliminate drugs from the work-place.
    "There is no easy answer," the Delaware Democrat said.
 Reuter
