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We have ties to several unions due to the nature of our business (construction).
The unions mandate what we pay to our employees, and require us to pay benefits to the union.
The unions purchase health insurance, pay for training, and fund a retirement account with this benefit money.
Several of these unions had invested a good portion of their funds into Madoff's funds.
By good portion, I mean 25% - 65% of their total.
Since they've promised these benefits to the employees, some unions are really feeling the squeeze.
You'll love this...
Their solution is to come to us to ask us to fund the shortfall caused by their bad investments. :smx4:
They actually expect us to write a check to fix their error!
Ain't America GREAT?!?!? :iamwithstupid:
The unions mandate what we pay to our employees, and require us to pay benefits to the union.
The unions purchase health insurance, pay for training, and fund a retirement account with this benefit money.
Several of these unions had invested a good portion of their funds into Madoff's funds.
By good portion, I mean 25% - 65% of their total.
Since they've promised these benefits to the employees, some unions are really feeling the squeeze.
You'll love this...
Their solution is to come to us to ask us to fund the shortfall caused by their bad investments. :smx4:
They actually expect us to write a check to fix their error!
Ain't America GREAT?!?!? :iamwithstupid:
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