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Author Topic: Fashion's Recommended Executive Board Makes Bad Decisions  (Read 865 times)

Offline PSperanza

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Fashion's Recommended Executive Board Makes Bad Decisions
« on: June 07, 2008, 10:41:00 AM »
We have seen the results of having an executive board in place that is dependent on the business manager’s office for their employment, political success and re election.

Prior to the last election in 2005 the local 353 executive board approved a $1 million loan from our local union funds to Retrocom.
This was high risk loan and in my opinion should not have been made, risking $1 million of membership money did nothing but delay the halt of Retrocom shares on the stock market and eventual filing for bankruptcy protection till after the 2005 local 353 election.

This kind of questionable decision was made by Joe Fashion’s “recommended slate” the membership was not consulted but only informed by way of the reading out of the executive board minutes at a local union meeting.

The following members are currently recommended by Joe Fashion and were part of that E-Board:

Rob White
Barry Stevens
Steven Belanger
Dan Drummond
George Smith


At the March 16, 2008 special called  meeting figures detailing union fund accounting were briefly flashed on an a hard to see overhead and  they showed some of those loans taken from union funds. At the same meeting members were recommended to contribute money from their raise into local union funds.

Did that loan to Retrocom save our $31 million pension investment?

No.

Did it delay Retrocom’s collapse till after the 2005 local 353 election?

Yes.
« Last Edit: June 07, 2008, 10:49:46 AM by PSperanza »
I love our local 353, SOLIDARITY and SUCCESS to the members in Alberta!

Offline TheCritic

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Re: Fashion's Recommended Executive Board Makes Bad Decisions
« Reply #1 on: June 09, 2008, 10:02:43 PM »
Perry

There was $30M ultimately that was invested into RETROCOM.  The $1M taken from each of the local union funds was suppose to be a 12.5% "loan" according to Fashion reporting to the Executive Board at the time.  Gullins was opposed and commented it was another donation, not a loan because RETROCOM did not have the money to ever pay it back. 

Gullins was at odds with the names you mentioned including Fashion and had his objection to the loan included in the local union Executive Minutes 'for the record' and he knew full well the money could not be returned with the 12.5% interest.  The following year it got even more deceiptful.

Fashion tried to give the impression the loan had been paid back by flashing a phoney cheque in the amount owed.  Gullins commented he knew there would be another offer for a high interest loan because the books couldn't show a deposit.  Sure enough Fashion brought another loan proposal and the E. B. bought into it.  They work for the man, what do you expect?

Bottom line is the $1M of local union money is gone!  Thanks to Barry, Rob, Steve, Dan and George.  These guys now want to be re-elected? 

A side comment.   Does anyone know why an appointed business representative added his name to the E. B. candidates?  Bill Acorn's ego must be taking over (again) with visions of grandeur.  Knowing full well of the negative impact business reps/officers has had on this local is there some other agenda here? 

Just asking as the present time. 

Offline icyman

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Re: Fashion's Recommended Executive Board Makes Bad Decisions
« Reply #2 on: June 09, 2008, 10:20:48 PM »
Quote
Bottom line is the $1M of local union money is gone!  Thanks to Barry, Rob, Steve, Dan and George.  These guys now want to be re-elected? 


Thanks guys but no thanks.

by the way with the return we lost on our investment over the years we lost untold millions which cost each and every member money right off the top of our pay checks.

these aren't bad decisions, they are reckless decisions.

They should be behind bars. >:(


Life is all about Ass; You're either Covering it, Laughing it Off, kicking it, Kissing it, Busting it, Trying to get a Piece of it or Behaving like One !!!

Offline TheCritic

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Re: Fashion's Recommended Executive Board Makes Bad Decisions
« Reply #3 on: June 10, 2008, 04:24:45 PM »
Quote
Bottom line is the $1M of local union money is gone!  Thanks to Barry, Rob, Steve, Dan and George.  These guys now want to be re-elected? 


Thanks guys but no thanks.

by the way with the return we lost on our investment over the years we lost untold millions which cost each and every member money right off the top of our pay checks.

these aren't bad decisions, they are reckless decisions.

They should be behind bars. >:(

Icyman

Observant as usual.   Your last comment could have read differently were the financial resources available.  Here is why.

Fashions claim that RETROCOM was concluded is not totally accurate.   FSCO are still waiting for the information regarding the "due diligence" taken by the trustees of the day.  The legal costs to pursue this case would have been in excess of $100,000.00.  Were the monies available it would have been undertaken and for sure a conviction made.   We are tradesmen and don't have the required sorts of money so he was let off again.

Had the funding been available justice would have been served and Joe's 73 years of freedom would have expired.   At least we would have known where we could find him.