The United Auto Workers aims to break even by mid-2014, as the American union looks to bolster its political and bargaining clout.
For the past five years, the UAW has relied heavily on selling its war chest of stocks, bonds and property to bridge the gap between its annual funding and costs.
The union believes this approach is untenable in the long run and its goal is to “have it turned around” in two years by adding members and managing costs, UAW President Bob King said in an interview on Friday.
“We are going to be at break-even or beginning to again accumulate resources beyond that” by the UAW’s next convention in June 2014, King told the Thomson Reuters editorial board.
Read Article