gofigure wrote:
For you because I thought you might be able to answer. I read your link and noted how the PBGC was mentioned as a player to bail out the Teamsters and did not see mention of the PBGC in the Hill piece. I thought it odd that they received no mention with this latest bail attempt.. That's all.
No personal or professional association with the Teamsters, and their financing arms. They do have a very nice piece of property on the NW side of Capitol Hill.
I'll wait for the story to percolate a bit more before commenting fully. But I think we all get the point of politics at play here and I appreciate fully that the teamsters pension is not the only concern for the PBGC.
I had the pleasure of trying to wind down a small union trucking company about 20 years ago and negotiating a final payout to Central States for the "underfunded" portion of pension (which we funded weekly for 30 years with exactly what we were told to fund). Pretty much everyone I dealt with from the person at the "help line" number to the person I handed the check over to at Central was an attorney who's sole purpose in life was to seperate you from as much $ as they could.
My boss at the time had colorful stories about contract negotiations with the Teamsters during the 70's and early 80's. Most of which started with him negotiating with a Teamster rep sitting across from him flanked by 2 very large men (standing behind said rep) with pronounced bulges of holsters in their jackets.