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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Tuesday, April 08, 2003 ::
Stock Dealing at Union-Owned Insurer Creates a Schism Many labor leaders say they were shocked to learn how much Mr. Georgine, former president of the A.F.L.-C.I.O.'s building trades department, had earned at Ullico. Mr. Thompson calculated that Mr. Georgine, who made $6 million in Ullico stock trades separate from the arrangement on which the federal inquiries are focused, received $10.7 million from 1999 to 2001, including the proceeds of those trades. Two directors said that in addition, the board had established an $11 million deferred compensation plan for him. Further, Mr. Georgine had Ullico buy a corporate jet that board members say costs $3 million a year to operate.------------------------------------------- posted 7:34 AM :: reference link ::
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