Didn't Obama give the UAW 17% of GM?

[gnadfly]

They're on strike. The UAW Boss is the target of a multiyear long investigation. WTF? 17% is a huge chunk.

https://www.dailywire.com/news/51853...e-molly-prince

A high-ranking United Auto Workers (UAW) official is quietly assisting in the negotiations between General Motors Co. (GM) and the workers' union despite facing a host of federal charges, including embezzlement, money laundering, and conspiracy.

UAW Regional 5 Director Vance Pearson was advising the bargaining team over the weekend in Detroit, Michigan, as the union attempted to settle an impending strike between its members and GM. Only days earlier, Pearson was indicted by a federal prosecutor on charges of embezzling union funds, mail and wire fraud, money laundering, and conspiracy, according to The Detroit News.

Pearson has been keeping a low profile during the negotiations. After a reporter approached him on Sunday and inquired whether he was, in fact, Pearson, he deceptively replied, "no, ma'am."

The senior officer, however, was photographed walking into the UAW-GM negotiation meeting, and was later confirmed to be in attendance by Rich LeTourneau, shop chairman of Local 2209, which represents thousands of workers at a separate GM plant in Indiana. Roughly 200 local UAW union leaders in total attended Sunday's meeting, which ultimately failed to come to a consensus.

NEW: UAW Region 5 Director Vance Pearson attended negotiations with GM in Detroit on Sunday, three days after federal prosecutors charged him with helping orchestrate a more than $1 million conspiracy that involved embezzling member dues https://www.detroitnews.com/story/bu...gm/2341056001/ … via @detroitnews


UAW accused thief negotiates worker deal with GM
UAW Region 5 Director is negotiating a new contract with General Motors Co. while facing federal conspiracy charges in corruption scandal

UAW called on its members to strike following the unsuccessful bargaining over the weekend. The strike, which kicked off at 11:59 P.M. on Sunday night, is the first work stoppage in America's automotive industry in over a decade.

Accordingly, nearly 50,000 union members walked out of the more than 50 GM facilities across nine states. Negotiations are reportedly still ongoing in an attempt meet a bevy of UAW demands, including increased hourly wages and a clearer path for temporary workers to permanent employment.

"Everyone is innocent until proven guilty in his country," LeTourneau responded when The Detroit News asked about Pearson's attendance at the meeting despite the slew of charges.

The 40-page complaint filed against Pearson on Thursday outlines a years-long pattern of corruption involving other high-ranking UAW officials. The criminal case alleges union leaders spent upwards of $1 million in member dues on California villas, clothes, cigars, steakhouse dinners, golf clubs and apparel, rounds of golf at prestigious clubs, and high-end alcohol such as Louis Roederer Cristal Champagne, which sells at $400 per bottle.

[oeb11]

Jimmy Hoffa's example still rules the UAW.

I wonder if their pension fund has been audited in recent years?
Perhaps rather than waste time prosecuting the miscreants, just call the Chicago mob to sort it out.

LOL

[gnadfly]

He did. Then the UAW sold some of the stock. Now they only own about 10%.

Instead, the United Auto Workers collected far more of its debts than the other unsecured creditors did. The VEBA received 17.5 percent ownership of New GM, $6.5 billion of perpetual preferred stock paying a 9 percent dividend, and a note payable for $2.5 billion (repaid early for $2.8 billion).[22] The UAW sold a portion of its stake in New GM for $3.4 billion in late 2010.[23] The UAW VEBA still owns about 10 percent of New GM. Its remaining stake is worth $3.7 billion at current market prices. In present value terms, the UAW VEBA recovered a total of $17.8 billion.

https://www.heritage.org/taxes/repor...n-compensation

[lustylad]

Originally Posted by gnadfly

He did. Then the UAW sold some of the stock. Now they only own about 10%.

You left out the part about what the UAW did with their windfall from odumbo and Steve Rattner...

They took the proceeds from selling their GM stock and donated big bucks to dim-retard political campaigns!

Ya gotta be nice to the hand that feeds you!

In effect, odumbo and Steve Rattner diverted money that rightly belonged to American taxpayers and poured it into the UAW's coffers to be used to fund future dim-retard political campaigns!

Can you say C-O-R-R-U-P-T-I-O-N?

[gnadfly]

True, but I'm sure a lot of that money went to hookers, blow and lining the pockets of "leadership."

[andymarksman]

Originally Posted by lustylad

You left out the part about what the UAW did with their windfall from odumbo and Steve Rattner...

They took the proceeds from selling their GM stock and donated big bucks to dim-retard political campaigns!

Ya gotta be nice to the hand that feeds you!

In effect, odumbo and Steve Rattner diverted money that rightly belonged to American taxpayers and poured it into the UAW's coffers to be used to fund future dim-retard political campaigns!

Can you say C-O-R-R-U-P-T-I-O-N?

Where did Obama ever ask for bribes shamelessly like this Repub did?

[gnadfly]

Please stay on topic.

[lustylad]

Originally Posted by andymarksman

Where did Obama ever ask for bribes shamelessly like this Repub did?

Who needs bribes when you have a TARP cookie jar filled with billions in taxpayer dollars to play with?

Obama (or Sreve Rattner) was smart enough to figure out a circuitous way to stuff those taxpayer dollars into dim-retard campaign bank accounts with few people noticing!!

[Jacuzzme]

The Obama syndicate makes the Gambinos look like pikers.

[rexdutchman]

^^^ Right and now the UAW wants more more more money , ( should have gonna outa business and redone the first time ) Tail wags dog