Still Bankrupt?

   Yes, UTU is still Bankrupt - both morally and financially! As any member who attended the June El Paso Mini-Regional knows, and any member at Greensboro knows, no UTU Officer would touch the old "strong and stable" bullshit once I documented the UTU financial condition from their own GS&T reports and the 2000 LM-2 report (See Greensboro Edition - Page 3).

    So have things changed since March?  No, not if you believe the August GS&T Report:

Gee, since that is so hard to read, click here for a PDF version that should be better?  So what is the bottom line?  Well, nothing has changes since March as stated, i.e., when you add the money UTU owes, or more accurate, openly admits they owe in the LM-2 report (approximately 5.5 million including the bus), the money in Trust exceeds the total funds ($40, 334, 757.76), even if you assume the UTU continues to repay the $100,000 a month without barrowing more at the same time! 

Another words, all monies paid from the alleged "general fund", i.e., like International Officers salaries and expenses, is actually coming from "funds held in Trust" that they should not be able to legally touch!  UTU is still Bankrupt!!!

   Thank god for the wonderful "accrual" method of accounting that Ernst & Young yearly remind us is not a " generally acceptable" method of accounting. (haha)

    Of some note is the fact that Funds in Trust spent more money than they took in as receipts?  I've looked at 6 or 7 Monthly reports and that is a first as far as I can see.  Of course, a General Chairman or Leg. Director spending more money in a month than dues brought in is not uncommon as they have money in Trust. But seeing the JBI pay out more than they took in for the first time should be of some concern to us members (lots of people must be fired?) and to the International as the JBI Fund continues to be the slush fund that pays their salaries despite the Department of Labor ruling that JBI is a ERISA fund! 

    Oh well, while Clint and the boys got some good lessons in "Trust Law" from Eddie Yule and the DoL, us members can't expect them to catch on right away! 

    It goes without saying that Sac-B is morally bankrupt if you just look at his actions in misrepresenting the language of Article 16 or his actions in wasting the members monies to aver a lie in the Smoot punitive damages issue!  Hang in there and always have a nice day.