TEAMSTERS (IBT)
Overnite Refuses to Forsake Employees' Future to Historically Corrupt
Pension Fund
As previously reported, Overnite Transportation Co. is the subject
of Int'l Bhd. of Teamsters strike and has filed a federal racketeering
suit against the corrupt union.
A key issue of the strike is that Overnite is standing up to IBT's demands that future pension contributions be made to its Central States Pension Fund (CSPF). Reportedly, CSPF is under-funded by $5.3 billion. "To place our employees' future in the hands of the administrators of that fund would place it in jeopardy, and that is something we will not compromise," said Overnite spokesman Ira Rosenfeld. [Indianapolis Star 2/22/00].
In 1982, a federal jury in Chicago found IBT boss Roy Williams and four others guilty of conspiring to bribe a U.S. Senator and defrauding CSPF. [Chi. Trib. 12/15/98] In 1967, IBT boss James H. Hoffa was sent to prison on convictions of conspiracy and fraud in a scheme in which $1 million was diverted to him and his associates -- in return for loans totaling $25 million from the CSPF. [Newsday 11/1/98]
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Union Corruption Update is part of NLPC's Organized Labor Accountability Project which is investigating and exposing corruption and extremism in the Teamsters, LIUNA, AFL-CIO and many other union organizations. NLPC is a nonpartisan, nonprofit foundation promoting ethics and accountability in government through research, education and legal action.
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