Imagine that. And during a Republican administration and legislature! Total assets of the states 700 or so labor union locals have nearly doubled since 2004, from $182 million to $335 million, according to union financial reports filed with the Department of Labor. The 83 percent jump in assets happened even as membership at the 700 locals slipped 9.8 percent since 2004, to 420,924. (Most of that decline came from 2004 to 2009. Since the recessions end in 2009, membership has actually risen 5 percent.) Whats created much of the newfound union wealth is an unlikely combination of crude oil from the tar sands of Canada, a massive road-building plan by former two-term Republican Gov. Mitch Daniels, and a gusher of construction activity in the city of Indianapolis. Union finances also were aided in recent years by stock market gains that fattened union investment portfolios and by rising commercial property values that increased the worth of union halls, training facilities and land holdings.
Posted on: Sun, 26 Oct 2014 20:50:22 +0000
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