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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Friday, March 14, 2003 ::
Union-Owned Insurer Ullico's Troubles Mount (washingtonpost.com) For the past year, some Ullico officials have been under civil and criminal investigation by the U.S. attorney's office, the Labor Department, the Maryland insurance commissioner, and the Securities and Exchange Commission. They are looking into allegations that officers and some board members made huge profits by buying Ullico stock and then reselling it to the company under unusually favorable conditions.
Subpoenas and other documents from these inquiries suggest that investigators are trying to determine whether the board voted itself the right to make the profits at the expense of the union pension and trust funds that hold the vast majority of company stock.------------------------------------------- posted 12:08 AM :: reference link ::
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