Wednesday, April 16, 2014

Profits are UP for "Wall Street" Dave Regan

Last year, Dave Regan used SEIU-UHW to produce millions more in profits.

The Oakland-based union pocketed $8.6 million in profits during 2013, according to an annual report recently filed by SEIU-UHW with the U.S. Department of Labor

That's a profit margin of 7.8%.

In another section of the report, SEIU-UHW reveals that it stockpiled $37.8 million in cash by the end of 2013 -- the union's piles of cash jumped by 30 percent compared to twelve months earlier.

Remember…  SEIU-UHW made these profits from its members even BEFORE it implemented Regan’s giant dues hike, which took effect on January 1, 2014. Under that scheme, Regan boosted SEIU-UHW members' maximum monthly from $84 to $124.

So what's producing Regan's ridiculous profits? 

Tasty guesses the slashing of representation for members has something to do with it. Less spending on members = higher profits for Dave.

Here are some excerpts from SEIU-UHW’s recent filing: