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What the UAW 2021 monetary report reveals: Property rise, membership falls

The UAW realized yet one more rise in its whole belongings in 2021, reaching $1.18 billion, up from $1.13 billion…

By Staff , in Investments , at April 6, 2022

The UAW realized yet one more rise in its whole belongings in 2021, reaching $1.18 billion, up from $1.13 billion in 2020, even because the COVID-19 pandemic raged via workplaces and factories and the union’s membership declined to its lowest stage since 2010.

The latest LM-2 monetary report confirmed UAW membership declined to 372,254 in 2021, down 6 p.c from the 2020 determine of 397,073. That compares to a membership of 701,818 as just lately as 2002 and a excessive of 1.5 million in 1979, earlier than mass layoffs and plant closures started a decades-long decimation of UAW membership.

Regardless of the decline of membership, the monetary belongings of the UAW have remained remarkably fixed over the a long time, reflecting the separation of the pursuits of the union paperwork from the employees it supposedly represents. UAW whole belongings in 2021 had been barely better than in 2002, with 430,000 fewer members paying dues.

The monetary report reveals much more clearly the direct correlation between the rise within the fortunes of the UAW equipment and its efforts to implement the desire of company administration and sabotage staff’ struggles.

Curry being sworn in 2018. To the suitable is Gary Jones, and on the podium, is Dennis Williams: the 2 UAW presidents who could be convicted for embezzlement. (Supply: UAW)

In 2021, the UAW doled out simply $33,478,986 from its gargantuan strike fund, which really rose from $790 million in 2020 to $815 million by the top of 2021. The strike fund elevated regardless of a lot of important walkouts final 12 months, together with 3,000 Volvo Vans staff in Virginia, greater than 10,000 John Deere staff within the Midwest, 3,000 Columbia College graduate scholar instructors and a pair of,000 New York College graduate scholar staff.

Throughout these strikes, in addition to a bitter contract battle at elements maker Dana Inc., staff more and more rebelled towards the UAW paperwork’s makes an attempt to implement management-friendly agreements. At Volvo, Deere and Dana, staff voted down a sequence of pro-company, union-endorsed contracts by 90 p.c margins and initiated rank-and-file committees to battle again towards the UAW and firms’ maneuvers.

In every case, nevertheless, the UAW shut down the strikes primarily based on rotten agreements that didn’t meet the calls for of staff, utilizing a mix of lies and intimidation. To facilitate these betrayals the UAW remoted the strikes from the broad mass of the working class whereas handing out miserly strike checks of simply $275 every week.

The revenue and bills of the UAW equipment

The paltry sums handed out to putting staff are in stark distinction to the $75 million in wage and bills paid out to the union’s prime officers, who all obtained their full pay whereas staff had been starved on the picket strains.

Furthermore, whereas a whole bunch of 1000’s of UAW members have been compelled to labor in unsafe circumstances in factories in the course of the COVID-19 pandemic, with 1000’s contaminated and an unknown quantity perishing, the extremely paid UAW paperwork has remained safely working at house just about the entire time.

Ten worldwide workers officers obtained greater than $200,000 every in salaries and bills in 2021. Tons of of servicing representatives, organizers, bookkeepers, stenographers and others earned greater than $100,000 apiece.

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