Unions "like Enron"?

Nomiprins at AOL.com Nomiprins at AOL.com
Mon Aug 26 18:59:17 PDT 2002


In a message dated 8/26/2002 9:27:40 PM Eastern Daylight Time, bsheppard at bari.iww.org writes:


> I found this interesting:
>
> Thomas Havey, an auditor of more than 700 union-bargained benefit plans,
> plead guilty on Aug 22 "to helping leaders of the iron workers
> international union hide dlrs 1.5 million in entertainment and dining
> expenses on annual disclosure reports to the Labor Department."
>
> Sue Hensley of the Labor Dept said, "In the age of Enron, this is evidence
> that loose accounting practices extend beyond corporate America." It was
> noted that "The investigation also coincides with the recent string of
> corporate accounting scandals that many unions have decried."
>
> The article by AP labor reporter Leigh Strope mentions what was done with
> some of the embezzled 1.5 million dollars:
>

Let me get this straight - 140,000 workers, $1.5mln, 6 years - or roughly $1.79 per person per year. Well, that puts the billions of dollars the top executive crooks embezzled out of their companies into perspective. Someone should sign Hensley up for a math class, on proportions.

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