Reply #62: I SPENT MANY YEARS [View All]

As a Union Carpenter. In our case ( and this does happen), our
Business Agents put a lien on the company's assets until the
money is paid back. I have seen them liquidate companies (it
takes years) but the Union Contracts, ours anyway) will cover
a certain amount of lapsed insurance (and all benefits) and
liquidate the company to retrieve the money. I have had it
happen to me (once, the company paid my benefits and kept
their business) and I have also seen them force a large
company into bankruptcy. All of the company directors had to
put up their homes as collateral during the process.
Eventually, they all lost their homes to pay back the
employees. THAT IS WHY UNIONS ARE SO IMPORTANT FOR WORKING
PEOPLE. Of course I felt sorry for the owners who lost their
homes, they still have money though, but they were stealing
from their employees and telling them the money was being paid
on their benefits.