Silicon Valley Bank

oldngray

nowhere special
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Up In Smoke

Well-Known Member
Tell me how much salary the union officers who are trustees on that fund receive yearly?
The union trustees that sit on our pension board make 125k per year plus benefits. I'm not sure what the company board members make. Salaries are listed on the LM2s and are public knowledge.
 

Up In Smoke

Well-Known Member
I'm not in the Central States Fund, but with a little effort, the names and salaries are available. Our fund trustees are also officers of our local and receive only expenses for being trustees of the fund. Everything is spelled out in our Constitution and bylaws. These are open to public viewing.
 

Thebrownblob

Well-Known Member
I'm not in the Central States Fund, but with a little effort, the names and salaries are available. Our fund trustees are also officers of our local and receive only expenses for being trustees of the fund. Everything is spelled out in our Constitution and bylaws. These are open to public viewing.
Central states union trustees receive no salary. Only expenses paid.
 

Thebrownblob

Well-Known Member
I'm not in the Central States Fund, but with a little effort, the names and salaries are available. Our fund trustees are also officers of our local and receive only expenses for being trustees of the fund. Everything is spelled out in our Constitution and bylaws. These are open to public viewing.
Yep all of these things are pretty easy to find out if you really want to. Every member has the right to know these things, and to question their leader ship and vote them out if they so choose.. unfortunately, some members sit in the cab of the truck for years and seethe with anger about things, they do not understand, and would never have the intestinal fortitude to try to do their selves. It would be interesting to know if the vast majority of these people who are sitting in a cab of the truck realize they make as much or more than their local union officers who represent them? I think that’s a pretty good representation. They also have the opportunity to run for elected office and take that position ourselves if they have the support and desire.
 

qdg2

Well-Known Member
Yep all of these things are pretty easy to find out if you really want to. Every member has the right to know these things, and to question their leader ship and vote them out if they so choose.. unfortunately, some members sit in the cab of the truck for years and seethe with anger about things, they do not understand, and would never have the intestinal fortitude to try to do their selves. It would be interesting to know if the vast majority of these people who are sitting in a cab of the truck realize they make as much or more than their local union officers who represent them? I think that’s a pretty good representation. They also have the opportunity to run for elected office and take that position ourselves if they have the support and desire.
All great......except......bad decisions and investments were made........some would say collusion also.

Where do we go to be made whole? Serious question.
 

bacha29

Well-Known Member
But let’s not put stronger regulations back in place because, well let’s just not do it. Regulation bad. Free market good.

Right?
Guys, it all comes back to having allowed greedy bankers to succeed in their effort to get Glass Steagall repealed and replaced with the mother of all greedy banking laws Gramm Leach Bliley. The legislation most widely blamed for the 2007/2008 financial crisis.

This debacle brought about the 2010 passage of Dodd Frank which restored many of the banking rules set forth under Glass Steagall.

In 2018 however Dodd Frank was weakened considerably with the passage of the Economic Growth, Regulatory Relief And Consumer Protection Act....Passage required the votes of 13 Democrat senators to get it across the finish line.

Under Dodd Frank banks with less than 10 billion in deposits were not subjected to the same rigorous regulations including the so called "stress tests" larger banks had to comply with

However one of the provisions of the Economic Growth, Regulatory Relief And Consumer Protection Act raised that threshold from 10 billion to 250 billion. SVB made sure that it stayed just under that threshold allowing them to pretty much do whatever they damned well please.

Just the other day Janet Yellen reaffirmed the need for the return of Glass Steagall in order to put an end to the shenanigans of greedy bankers.
 

Trucker Clock

Well-Known Member
Hi, cancel someone else.

Who cares what you think or mandate. Really.

The simple fact that I annoy you......well priceless.

Who's pathetic now?

I remember these 2 post very well made by you, especially this first one.

More like you are jealous and envious of the life I do have outside of UPS.

Say, aren't you retired? What in the world are you doing on a internet forum about where you USED to work? Seems pathetic to me....chuckle.

Aren't you retired and not relevant here?
 

Thebrownblob

Well-Known Member
All great......except......bad decisions and investments were made........some would say collusion also.

Where do we go to be made whole? Serious question.
Good and fair question. I’m sure there were bad decisions, happens in every fund. Some of those investments probably didn’t pay off like they thought as well. As far as collusion, I have no idea, if you’re speaking to decades ago and loans that were made involving properties in Las Vegas perhaps those people but those are ancient history, and many of those paid off quite well. as well as many of those people went to prison. By far the biggest problem for our pension was the deregulation in the 80s, causing numerous trucking companies to go out of business and leave the fund. Those orphaned members were costing the pension money, and the money wasn’t being replaced anymore. I don’t know any investment they could make up that ground other than investing in organizing other companies, and that didn’t happen. In my opinion, the government broke it, and it was on them to fix it.
 

qdg2

Well-Known Member
Just pointing out that you called people pathetic and irrelevant for doing exactly what you are doing now.

So, it does not matter what I think. By your own admission, you are pathetic and irrelevant.
Who cares what you think. I don't.

Say......go away.....

I'm a poet.
 
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