:: rawblogXport ::

:: Thursday, November 06, 2003 ::

Minority Views, ULLICO Investigation house.gov
"In September 2002, Thompson began to conclude his investigation, and ULLICO management began an effort to prevent his report from being released. This led to a series of increasingly hostile letters between Thompson, John Sweeney of the AFL-CIO, and Robert Georgine, which focused on whether the Thompson Report would be made in writing and if so, whether it would ultimately be made available to shareholders. It was also in this period that United Brotherhood of Carpenters President Douglas McCarron, a ULLICO board member, announced prior to the release of the Thompson Report that he was returning to ULLICO his profits on the sale of ULLICO stock.

The Thompson Report was completed and made available to the Board of ULLICO on November 26, 2002. Rather than be party to withholding the report from shareholders, ULLICO directors John Sweeney, Linda Chavez-Thompson and Frank Hanley, President of the International Union of Operating Engineers, all resigned from the Board in protest. Shortly thereafter Carpenters President Douglas McCarron resigned from the Board in protest. This was followed by benefit plans affiliated with the United Auto Workers filing suit in federal court in Detroit seeking the release of the Thompson Report."


The Majority report:
Committee Releases Final ULLICO Report; Calls on Labor Department to Fully Investigate Whether Sweetheart Stock Deals Violated Federal Labor and Pension Laws

posted 7:10 AM :: reference link :: 0 comments ::

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