According to a report by Fox News (and other media outlets), the UAW owns and operates a $33 million lakeside retreat in the backwoods of Onaway, Michigan, including a $6.4 million golf course. First, let me say that I do enjoy the game of golf. I may not be very good at it, but I do find it to be a way to relax and take out some frustrations, all at the same time. So I do not begrudge the union for having a golf course.
Here is the problem: In the past 5 years, this resort has lost $23 million. As the union is having problems with a pension fund that is losing money, they continue to throw away money with this resort. The UAW covers costs for this 'Walter and May Reuther Education Center' (sounds impressive, doesn't it?) from interest earned on the strike fund. Due to losses over the past 5 years, the UAW was forced to take out loans to keep things going.
First of all, the market did well over the last 5 years (notwithstanding the last 6-9 months). Why couldn't the UAW make money on any investments over that time? Are their investment people that bad? Maybe they should have been fired, too. They should have been able to make enough money for this place to be solvent.
Also, what do they need a resort for? According to the UAW, they send workers there to "learn, experience unionism (and) commit to labor's cause." This sounds a lot like socialism to me. Basically, it is a place that they send people to in order to get them to forget free market economics and indoctrinate them with the socialist tendencies of the union.
I am in the front of the line when it comes to griping about the government bailouts. They should not happen (and there will only be more once President-elect Obama is in office and pays off his union friends). In my opinion, these businesses that did not practice good policies should be left alone to go under, including the auto industry. My problem is that the UAW did not have to give up a thing in this whole auto bailout deal. They are the main reason that the auto industry is hurting. We do not need the unions. The auto assembly folks are compensated well. Their benefits are incomparable (except with Congress).
If the auto executives are castigated for flying to D.C. on the company planes for Congressional hearings, then why are we not castigating the UAW for throwing away money (and a lot more than what the execs spent on flying to D.C.) on this golf course and resort? Can we say double-standard? Can we say vote-buying?
No comments:
Post a Comment