The Times They Are A-Changin'

A short while back I did several posts on the Indiana State Teachers Association (ISTA), the National Education Association (NEA) imposed trusteeship and the bankrupt Indiana State Teachers Association Trust Fund (blog search ISTA if interested).

I followed by posting a link to the Department of Labor Critical and Endangered Status Notice Page which list the Multi-employer Pension Plans (mostly union) reported to DOL as "critical or endangered" Is that a euphemism for broke?

I received a response telling me to keep my eyes open because this is just the tip of the iceberg and we'll see some radical changes in the government - labor movement -corporation - worker consanguinity. Hmmm - I thought we already had seen some radical changes with the government/UAW partnership in control of GM and Chrysler.

But the warning was deeper and more dire - I was told that many unions would need massive government hand-outs just to stay out of bankruptcy and that the union controlled pension funds were all on life support. Hell, we've bailed everyone else out, why discriminate against the unions?

Perhaps it's not PC to say that labor tried to buy government in the 2008 elections but what else do you call it? It might have even been a good investment - payback has already started and the indications are it will continue as long as Obama can come up with the candidates and bucks the unions need. Welcome to the Brave New World!

One thing I find ironic is my perception that the unions are attacking their own pension funds. I'm sure there are many reasons for the dismal state of the funds, mismanagement and corruption immediately come to mind, but I wonder how many of the funds include stock from the very corporations labor seems intent on destroying?

As an example, Joe Hansen of United Food and Commercial Workers (UFCW) is behind a massive effort to organize WalMart, which is profitable, employs about 1.4 million people and plans on creating 22,000 new jobs this year. According to the UFCW, the evil giant is responsible for every malady know to mankind - including my beer gut and balding pate (thank gawd - I thought it was heredity and overindulgence)! One might wonder how much of the large UFCW investment portfolio, albeit down from $67,607,164 to $38,515,570 in 2008, is WalMart stock?

It all makes me shake my head in amazement and I only hope I live long enough to "See The NEW USA In My Government Motors Chevrolet"

"Ladies and Gentlemen - This is your pilot speaking - we've encountered turbulence, please fasten your seat belts".

Win, lose or draw, it's gonna be a hell of a ride!