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 Post subject: UAW needs Money
Unread postPosted: April 2nd, 2012, 10:12 am 
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Joined: February 15th, 2011, 5:02 pm
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http://eresearch.fidelity.com/eresearch ... links=vnhl


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 10:44 am 
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Joined: February 3rd, 2011, 9:12 am
Posts: 528
This must be a mistake in the above article of the amount of liabilities. " The UAW reported assets of $1.04 billion in 2011 and liabilities of $7.1 billion. Cash receipts and disbursements both fell about 6 percent to roughly $258 million each. (Reporting By Deepa Seetharaman; Editing by Diane Craft) "


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:04 am 
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Joined: June 23rd, 2011, 11:41 am
Posts: 509
Location: Saginaw
That's why they were selling their assets to make expenses. The liabilities probably include VEBA that shouldn't be coming out of the general fund. What shocks me is the size of the strike fund with all the no strike clauses negotiated over the last many years.

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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:10 am 
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Joined: February 15th, 2011, 5:02 pm
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they took money out to the strike fund to fund the organizing efforts underway. Moved it to the general fund. I forget the amount, but it was way up there.


Last edited by SwHomeAl on April 2nd, 2012, 11:19 am, edited 1 time in total.

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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:18 am 
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Joined: June 23rd, 2011, 11:41 am
Posts: 509
Location: Saginaw
Maybe they should have used that money to get smarter/non-self serving people to handle the issues we are seeing across the locals. The issues that I've been seeing here could be better taken care of by people that don't have a vested interest in their own self-preservation at the expense of others.

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firebug (aka Dave LaBenne, your friendly neighborhood pyro-man)


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:45 am 
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Joined: February 15th, 2011, 5:02 pm
Posts: 1068
This was the 34th constitutional convention

http://jalopnik.com/180505/breaking-uaw ... ating-fund


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:50 am 
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Joined: February 15th, 2011, 5:02 pm
Posts: 1068
http://www.reuters.com/article/2011/09/ ... 7R20110922


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:50 am 
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Joined: February 15th, 2011, 5:02 pm
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The 7 billion liability looked wrong to me also,,,, probably meant 7 million...


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 11:59 am 
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Joined: June 23rd, 2011, 11:41 am
Posts: 509
Location: Saginaw
Unless it is VEBA related. 500,000 retirees require a lot of $ for healthcare. The way the accounting system requires them too book assets and liabilities it is a snapshot in time. If the big 3 don't make their payments to VEBA, the UAW is on the hook for it. Hence the billions

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firebug (aka Dave LaBenne, your friendly neighborhood pyro-man)


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 Post subject: Re: UAW needs Money
Unread postPosted: April 2nd, 2012, 12:00 pm 
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Joined: February 15th, 2011, 5:02 pm
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The Veba is a seperate trust, funded by GM, or should I say lack of funding by GM.


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