TAXPAYERS ROBBED FOR OVER $800 MILLION DOLLARS TO COVER FOR THE UBC LOOTING AND MISMANAGEMENT OF UBC PENSION FUNDS

 DESPITE UBC INTERNATIONAL OFFICERS AND MANY COUNCIL STOOGES TAKING ABSURD WAGES,DOUBLE AND TRIPLE PENSIONS AND LIVING THE LIFE OF LUXURY THE TAXPAYERS ARE BEING FORCED TO PAY FOR UBC PENSION FUNDS THESE PEOPLE  LOOTED AND MISMANAGED

 

IT WAS JUST ANNOUNCED THE MICHIGAN REGIONAL COUNCIL PENSION FUND WILL GET  $635 MILLION OF TAXPAYERS MONEY

NO STRINGS ATTACHED

NO PAYBACK

 A GIVE AWAY BAILOUT 

SO THEY CAN CONTINUE TO LOOT AND MISMANAGE THE FUNDS 

PBGC APPROVES SFA APPLICATION FOR DETROIT CARPENTERS FUND

Detroit Carpenters Fund Averts Insolvency and Reduction of Benefits Through Receipt of Special Financial Assistance

For Immediate Release

October 17, 2024

WASHINGTON, D.C. — The Pension Benefit Guaranty Corporation (PBGC) announced today that it has approved the application submitted to the Special Financial Assistance (SFA) Program by the Carpenters Pension Trust Fund – Detroit & Vicinity (Detroit Carpenters Fund). The plan, based in Troy, Michigan, covers 22,576 participants in the construction industry.

The Detroit Carpenters Fund will receive approximately $635 million in special financial assistance

 READ IT HERE

 

I GUESS ALL THAT PAYOFF MONEY TO  BUMBLE JOE BIDEN AND OTHER FOR SALE TO THE HIGHEST BIDDER POLITICAL HACKS HAS ITS REWARDS 

THIS IS THE UBC CREW CELEBRATING THE BAILOUT AND TAXPAYER RIP OFF TO COVER FOR THEIR LOOTING AND THEFT WITH THEIR BOUGHT AND PAID FOR POLITICAL HACKS HALEY STEVENS AND DEBBIE DINGELL. NOTICE ALSO THE UNION BOUGHT AND PAID FOR SELL OUT JULIE SU WHO SPENDS HER DAYS ON THE TAXPAYERS DIME WITH HER NOSE BURIED IN UNION ARSE

IN RETURN FOR PAYOFFS TO FOR SALE TO THE HIGHEST BIDDER HACKS LIKE BIDEN THE TAXPAYERS ARE BEING FORCED TO BAILOUT THESE UBC AND OTHER UNION FUNDS SO THEY CAN CONTINUE TO LOOT AND MISMANAGE UBC PENSION FUNDS

2019

METRO DETROIT UNION SANK $100 MILLION+ INTO RISKY DEALS-NOW RETIREES COULD PAY THE PRICE

 Now in financial crisis and looking to slash retirees' benefits checks, the metro Detroit Carpenters Pension Trust Fund once sunk more than $100 million into risky investments and real estate deals across Michigan and as far away as Hawaii. 

Some deals proved disastrous, losing tens of millions for the private-sector union pension fund and its 19,600 active or retired members. A few of the worst: investments in a rural Up North golf course that never made money, a time-share resort in Hawaii that didn't get built and an energy drink company run by a twice-convicted felon that went bankrupt.

 

 "Walter Ralph Mabry, a former chairman of the pension fund's board of trustees who also headed the carpenters' union from the late 1990s until mid-2006, when he was sentenced to prison for two years for receiving Illegally discounted work to his house.

The deals also were presumably approved by the pension fund's board of trustees.

One source close to the carpenters' pension fund was "shocked by how bad the real estate investments were."  

"They were investing in some of the riskiest stuff I've ever seen in my life," the person said."

 

 THE TAXPAYERS ARE NOW FORCED TO GIVE THESE UBC RATS $635 MILLION TO COVER FOR THEIR THEFT YET HERE WE HAVE THE MICHIGAN COUNCIL  SPENDING

 $325,109 

ON DETROIT TIGERS BASEBALL TICKETS

 

$294,010 

AT AN AMUSEMENT PARK

$500,000 AND $210,000

 TO BUY MORE FOR SALE TO THE HIGHEST BIDDER POLITICAL HACKS

$11,600 

AT A JEWELERS TO BUY WATCHES

$395,00 PLUS

TO COUNCIL EST LUTZ AND ABSURD SALARIES FOR OTHER COUNCIL STOOGES

 

THANK GOD THE TAXPAYERS HAVE TO GIVE THE UBC A BAILOUT SO THEY CAN CONTINUE TO PISS AWAY WORKERS DUES MONEY

 

 ANOTHER UBC FUND GETTING A TAXPAYER BAILOUT IS THE

 SW OHIO REGIONAL COUNCIL OF CARPENTERS PENSION FUND 

$176,958,350

 THE UBC INTERNATIONAL SEIZED THE SOUTHWEST OHIO COUNCIL IN WHAT WAS DESCRIBED IN FEDERAL COURT AS A "MILITARY STYLE ASSAULT AND HOSTILE TAKEOVER" AND TANKED THIS FUND.THEY SENT THE UBC CRONIE CHRIS HEINZ TO TELL THE OHIO FUND TRUSTEES TO SIT TIGHT AND WAIT FOR LEGISLATION CALLED THE MULTI EMPLOYER REFORM ACT HE AND THE OTHER NCCMP/UNIONS WROTE TO BE PASSED AND THEN USE IT TO CUT UBC RETIREES PENSION CHECKS

I HAVE NO ISSUE WITH RETIREES WHO WERE ROBBED BY THE UBC CRIMINAL SYNDICATE AND ITS CRIMINAL ELEMENT BEING HELPED AND MADE WHOLE 

 

FEDERAL AGENCY'S IN PLACE TO PROTECT THEM REUSED TO DO BECAUSE THEY ARE BOUGHT OFF BY THOSE CONTROLLING UNION PENSION FUNDS  AND CRIMINAL SYNDICATES LIKE THE UBC.

 

BUT BEFORE THESE FUNDS RECEIVE A DIME  THOSE RESPONSIBLE FOR THE FRAUD MUST BE REMOVED AND HELD ACCOUNTABLE.THESE FUNDS WERE NOT IN TROUBLE BECAUSE OF FLUCTUATIONS IN MARKET CONDITIONS AS THEY ALWAYS  CLAIM.THESE FUNDS WERE LOOTED AND MISMANAGED BY THE UBC CRIMINAL ELEMENT THAT CONTROLS THEM

 

BEFORE THEY RECEIVE A DIME FROM THE TAXPAYERS THESE CROOKS MUST BE HELD ACCOUNTABLE.UBC ASSETS MUST BE SEIZED,APPLIED TO COVER THEIR THEFT AND THE CRIMINALS REMOVED

HOW IN THE HELL CAN THESE CRIMINALS BE GIVEN ALMOST A BILLION  IN A NO STRINGS ATTACHED BAILOUT FROM THE TAXPAYERS SO THEY CAN CONTINUE TO LOOT,MISMANAGE AND ROB THESE FUNDS??