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UPS Union Issues
TDU Leader bankrupts Local
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<blockquote data-quote="Inthegame" data-source="post: 1574726" data-attributes="member: 37112"><p>Book value is shown on Schedule 6 on the LM2. L952 did spend a little over what they "took in" in 2014 (about a -.006%), but the net assets showing a negative is because of depreciation of their land and buildings. Their real value is what they appraise for in the California market (not listed on an LM2) which is undoubtedly higher than the acquisition value. Book value is an accounting tool for tax purposes and skews real value downward. If appraisal value was used L952 would be +1 million or greater. </p><p>I'm pretty sure we went through this lesson last year. Pay attention.</p><p></p><p>BTW, Local 805 showed an increase in Net Assets in 2014, maybe Sandy shouldn't have merged.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1574726, member: 37112"] Book value is shown on Schedule 6 on the LM2. L952 did spend a little over what they "took in" in 2014 (about a -.006%), but the net assets showing a negative is because of depreciation of their land and buildings. Their real value is what they appraise for in the California market (not listed on an LM2) which is undoubtedly higher than the acquisition value. Book value is an accounting tool for tax purposes and skews real value downward. If appraisal value was used L952 would be +1 million or greater. I'm pretty sure we went through this lesson last year. Pay attention. BTW, Local 805 showed an increase in Net Assets in 2014, maybe Sandy shouldn't have merged. [/QUOTE]
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