Values Voter News

United Auto Workers Union Worth $1.5 Billion in 2007-"The United Autoworkers Union (UAW) had a total net worth of $1.5 billion for fiscal year 2007, according to financial disclosure forms on file with the U.S. Department of Labor.
The vast majority of the that net worth--$1.2 billion--was reported by the national UAW headquartered in Detroit. The remaining $300 belongs to over 200 local UAW chapters spread across the country, several of which are worth upwards of $1 million.
Among the national UAW's assets are a $27 million woodland resort and a $6 million eco-friendly golf course....All of the UAW's money comes from members’ dues, according to Labor Department sources--whether directly through yearly payments or indirectly from returns on the investment of union dues invested in previous years...The UAW national headquarters owns over $100 million in real-estate stretching from California to New York, including a $3 million Washington D.C. office. Although the nation’s capital does not contain auto manufacturing, it is the home of Congress, which was the object of nearly $7 million in UAW lobbying in 2007.
All unions are required to disclose financial information to the federal government. The Labor Department has worked intently over the last eight years to overhaul union financial reporting in an effort to force reluctant unions to be more transparent, allowing their members to see exactly where their dues go, Labor Department sources told CNSNews.com.
However, department sources said union financial reporting is not as full as they would like. Current regulations, for example, do not require the unions to itemize assets or expenditures of less than $5000."

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