Friday, June 4, 2010

More on why the SEIU stinks

So apparently SEIU owes Bank of America a whole bunch of money. Hmmm. Their solution? Trespass a Bank of America employee's property and scare the crud out of his kid.

And yet Bank of America is mentioned 5,170 times on SEIU's web site, with most mentions being attacks on the bank and its CEO, Ken Lewis. By comparison, Lehmann Brothers gets 144 mentions on SEIU's website, Goldman Sachs 688 and AIG 144.

Why the Bank of America obsession? Here's a clue: In 2008, the union's total liabilities were $156 million. According to Department of Labor filings, in 2007 the SEIU owed $94,578,779 to ... Bank of America.

Also, why is it that the union leaders have separate pensions from the rank and file union members?
There's also this: SEIU members are being robbed -- not by Wall Street but their own union. In 2005, SEIU's pension plan was only 82 percent properly funded, which, by government standards, officially made it "endangered." It's almost certainly has gotten worse since then.

Maybe that's why SEIU officers have their own fully-funded pension plan separate from the endangered fund for the rank and file. Are SEIU leaders making trouble for the union's biggest creditor to keep people from noticing it is heading for bankruptcy?

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