Is Important That Members Realize Why We Write About Douglas Mccarron
The merging of locals is so he can have complete control. He takes away total autonomy from the members.
No one person that has any type of authority within the District Councils are voted for by the members, they are appointed by him and are paid astronomically high salaries so the can't say no to him.
Why did McCarron accuse Fred Devine of giving out a 13th check to the retirees is New York, so he can buy their vote and support. So, why is McCarron handing out the 13th check to the retirees in So. California??? Could it be that he is doing the same thing??? Is it so no one questions the Pension increases given to the management??
Why does McCarron speak of the gains in the So. California Pension but yet not tell the members that they have poured $23 million into a company that has been losing money for the last 5 years. Perini had a loss of $6.38 per share in 1995 and an even deeper loss of $15.13 in 1996, which is when Tutor,Blum and McCarron decided to plunge the $23 million from the So. California Pension Fund of which there was a 50% loss. Why does the Fund keep pouring money into 3 hotels that keep going down in value.
Why does McCarron keep merging locals? Why is he selling the District Council building in New York? Did he sell the buildings 500 and 520 So. Virgil in Los Angeles, they were up for sale in 1992? Were these buildings transferred or sold?
Why does McCarron accuse Fred Devine of spending the funds money for personal trips it he comes to his home in Southern California almost every weekend?
In an article in Business Week magazine, McCarron says that union positions are not
positions for life. Then why is he in power since 1975?
Is McCarron collecting $50.00 for every 1506 meeting even though he has not showed up since November. Members say that he is marked present at every meeting. If it is true that he does this we will be told by looking at the LM-2 Report for 1998/1999.
James Bernsen Criticized The Fact That Pete Wilson Made $139,000 A Year. First Of All Pete Wilson Was Voted In By The Citizens Of California. Second, Pete Wilson Will Not Get A Double Pension As The Following People Will. Bernsen Was Appointed By Doug Mccarron Not Elected By The Members.
Is the reason James Bernsen receives such a high salary is so Doug's brother Mike can be paid at this rate when he is appointed president of the District Council? What warrants Bernsen's salary increase of $60,000 in two years, when all he does besides agitating the members with his political lies and propaganda about Republican politicians in the Carpenters Magazine is check out the horse racing results at his desk. I wonder how many times James Bernsen has had a hammer in his hand? Does he even know how to handle a hammer? Has Bernsen ever worked as a carpenter?? Has he worn the tools of the trade?? How does Bernsen know what the members needs are? These are the people that Douglas $McCarron has put in place to represent the members!!!
WOW!!!! An increase of $60,000, Bob Sheets must really work hard for the members, he should show us all the charges he has filed on behalf of members. When he gets time represent the members, is still a mystery as he is always locked in his office doing accounting work! When will the DOL do some investigating as to why Bob Sheets gets paid as a Business Rep., when what he actually does is run the accounting office for the District Council.
ONCE AGAIN UNIONPLAINFACTS BRINGS YOU FRESH NEWS!!!!!!
On 4/13/99 New York District Attorney Morganthau, US Ass't Attorney
Mary Jo White and Chief Investigator of NY ERISA/DOL Jonathan Brown showed up at the NYDC
with subpoena's demanding the records of Union Labor Life, Zenith Administrators and the
complete financial records of the New York District Council from 1995 to present!
CARPENTERS PENSION FUND LOSES 50% OF ITS INVESTMENT IN PERINI STOCK
BECAUSE OF CORRUPT DEALINGS WITH
Two years after its financial rescue, Perini Corp.'s stock has been one of the weakest performers in the industry, losing about 45% of its value during 1998. Perini's construction operations churned out profit with improved efficiency last year. But the company remains weighted down by $80 million in debt. Wall Street investors, never overly fond of construction stocks, have not cut Perini any slack.
"They have a heavily leveraged balance sheet and we probably stayed in longer than we should have," says one mutual fund manager who sold his Perini shares last year.
Two years ago, shares of Perini traded for roughly $8 and in early 1998 they hit $11.25. But the bull market subsequently ran past Perini (AMEX-PCR) and its shares closed recently at $5.12---about half of its book value.
On March 15, the company reported $11.7 million in 1998 net income, up from $5.4 million in 1997, on $1.035 billion in revenue. Perini says huge interest payments on long-term debt, cut to $80 million from $125 million, limit earnings. "If we continue to do what we've been doing, and our people have been outstanding, we will be fine," says Ronald N. Tutor, co-chief executive.
The key investors that saved Perini two years ago are sticking with the contractor. In November 1996, one of the sharpest investment advisors on Wall Street, Richard C. Blum, plunged $27 million of union workers' funds into Perini Corp. The money came from the Carpenters Pension Trust for Southern California and the Union Labor Life Insurance Co., which invests money in support of union companies. Along with another $3 million from Tutor, a Perini joint-venture partner, the funds saved the Framingham, Mass.-based contractor from financial disaster.
David Perini remains as chairman and co-ceo but Tutor oversees construction. Tutor is also co-chairman of the Southern California Carpenters pension fund. (Former ENR Editor-in-Chief Arthur J. Fox Jr. is a Perini director.) David Perini believes that the shares are undervalued and says because the stock is thinly traded, small trades can dramatically change its closing price.
One remaining issue in Perini's future is the final resolution of the troublesome Rincon Center mixed-use real estate project in San Francisco. David Perini says that when Rincon's restructuring is completed the project will no longer be a cash drain. "Once that's done it's basically clear sailing" on Perini's remaining real estate, he adds.
Another question in Perini's future is who will be named chief
executive, filling the post vacated in January by Roger Ludlam, who joined Morrison
Knudsen after a year in Perini's top job. Tutor says that the next Perini chief executive
will be chosen from the company's managers.
What happened to the 200 million dollars that they reported that was made in 1998 What happened to the 200 million dollars that they reported that was made in 1998
ATTENTION CARPENTER UNION MEMBERS OF SOUTHERN CALIFORNIA
Did you know that if you become disabled for whatever reason while working in "Covered Employment" (a union job), you can get pension credit.(See page 5 of the pension book)
If you do not have it call the Pension trust at (310)
739-9300. Make sure you have this book!!!
HOW MANY MEMBERS HAVE ACTUALLY BEEN GIVEN THIS BOOK?????
Check out our new section "UNION MEMBERS BOOKLET" ON THIS SITE.
New York Daily News Article
New York Daily News February 8, 1999, article by Tom Robbins
Feds Launch probe of Carpenter Fund!!!!!
THE FEDERAL DEPARTMENT of labor has opened an
inquiry into the handling of carpenters union benefit funds, according to government and