UAW assets fell, income rose in ’12

UAW assets fell, income rose in ’12
6:45 am

Washington — The United Auto Workers union said its net assets fell by nearly $40 million in 2012 as its annual revenue rose to $261.1 million.

In its annual report filed with the U.S. Labor Department, the Detroit-based UAW said total assets fell from $1.043 billion to $1.003 billion at the end of 2012 as it wrote down the value of furniture and other equipment by $38.5 million. That’s down from $1.27 billion at the end of 2007. The union said the value of its assets fell from $782 million to $718 million at the end of the year, but its investments in U.S Treasury bonds rose from $66 million to $84 million.

Last week, the union said membership rose by 0.5 percent, or 1,800 members, to 382,518 members, the third straight year membership has risen. But membership is still off significantly from recent years and from its all-time high of 1.53 million in 1979.

The union’s revenue rose to $261.1 million in 2012, up from $257.8 million in 2011, but it is still down about $50 million from 2009, when the union had $315 million in total revenue. Total dues collected fell from $122 million in 2011 to $115 million in 2012.

The union said it spent $260.3 million in 2012, including $29.9 million on political activities and lobbying.

The union sold four buildings that housed union locals and incurred losses on the sale of all four properties: including Local 849 in Ypsilanti, which it bought for $180,000 and sold for $3,882 and the building that housed Local 985 in Redford Township, which cost $298,792 and the union sold for $3,876. The union also wrote down the value of its Black Lake Golf Course in northern Michigan to $5.7 million, down from $7.6 million.

UAW officers received raises in 2012. UAW President Bob King saw his salary rise from $159,293 in 2011 to $174,446 last year.

Seniority Lists
Bargaining Committee

Mike Herron
Tim Stannard
Zone at Large – 1st
Danny Taylor
Zone at Large – 2nd
Mark Wilkerson
Joe McClure
Chad Poynor
Steve Roberts
Derek Lewis
Bill Cundiff
Kirk Zebbs
Don Numinen
Jay Minella
Danny Bragg
Chris Hill
Rashad Thomas
Keith Oswald
Chris Brown

1853 Officers

Tim Stannard
Mike Herron
Vice President
Darrell DeJean
Financial Secretary
Mark Wunderlin
Recording Secretary
Peggy Mullins
Trustee (3)
Jay Lowe
Dave Clements
Dave Spare
Sgt. at Arms
David C Spare
Ashley Holloway
E-Board at Large (2)
David Ryder
Steve Roberts

GM Unit Chair
Mike Herron
Leadec Unit Chair
Larry Poole
Ryder Unit Chair
Patrick Linck
AFV Unit Chair
Katherine McGaw
Retiree Chair
Mike Martinez