It's a sure sign of tough times when you're forced to sell your resort to raise cash. The Detroit News reports that the UAW will soon have a for-sale sign in front of its $33 million dollar resort in northern Michigan.
The center, renovated in the 1990s, has a gym with two full-size basketball courts; an Olympic-size indoor pool; exercise facilities; table tennis and pool tables; a sauna; beaches; hiking and biking trails; sports fields; a boat-launch ramp; and rooms and condominiums.
In 2000, a $6.7 million golf course was added -- the vision of the late UAW President Stephen Yokich. Golf Digest that year ranked it as North America's second-best "New Upscale Public Course." It now ranks 34th on Golf Digest's list of America's 100 Greatest Public Courses.
Eventhough membership has plummeted and thousands of it members have been fired, the union's shelves are hardly empty.
The union reported $1.2 billion in assets in 2008, the latest data available. That included $700 million in U.S. Treasury securities; $321 million in other investments, mainly securities; and $100 million in fixed assets, including the Black Lake facility.
One can only wonder if many UAW members ever wonder if their hefty dues could have been put to better use.....had they not paid them.
Bill Weckesser
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