Negative
24Serious
Neutral
Optimistic
Positive
- Total News Sources
- 3
- Left
- 1
- Center
- 1
- Right
- 1
- Unrated
- 0
- Last Updated
- 8 days ago
- Bias Distribution
- 33% Center


UAW Faces Federal Probe Over $80M Post-Strike Investment Loss
The United Auto Workers (UAW) union is under federal investigation after an alleged investment misstep cost it an estimated $80 million in potential market gains. In August 2023, the union liquidated approximately $340 million in stock assets to pay workers during a strike but failed to reinvest the funds promptly following the strike's end, contrary to its investment policy. This reinvestment delay lasted over a year, with only about 5% of the portfolio returned to equities by September 2024, causing the union to miss out on a significant stock market rally. The union's investment policy prescribes a portfolio balance of 30% equities, 53% fixed income, and 17% alternative assets, but funds remained largely in cash, fixed income, and alternative investments during the period. The issue was raised internally after portfolio returns lagged behind typical bank account yields, prompting scrutiny from the federal monitor appointed under a 2020 Department of Justice settlement related to prior union corruption. While union leaders, including President Shawn Fain and Secretary-Treasurer Margaret Mock, have not publicly commented, the board confirmed an investigation into compliance failures concerning these investments.



- Total News Sources
- 3
- Left
- 1
- Center
- 1
- Right
- 1
- Unrated
- 0
- Last Updated
- 8 days ago
- Bias Distribution
- 33% Center
Negative
24Serious
Neutral
Optimistic
Positive
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