Northern Illinois Maintenance of Way Secretary-Treasurer Sentenced

On March 27, Michael Schofield, former secretary-treasurer of Brotherhood of Maintenance of Way Employees Local 1046, was sentenced to eight months in prison and one year of supervised release for making false entries in financial records of the Plainfield, Ill.-based union for the purpose of concealing unauthorized loans totaling $31,850. …

SEIU Puts Michigan Health Care Affiliate in Trusteeship, Probes Possible Fraud

Financial malpractice rarely goes out of season among a number of health care affiliates of the Service Employees International Union. On February 14, SEIU President Mary Kay Henry placed SEIU Healthcare Michigan under emergency trusteeship following allegations by an unnamed internal whistleblower that two of its top officials had abused …

Ruling in Perry Capital Appeal Shackles Fannie Mae/Freddie Mac Shareholders

One buys stock with an understanding that the rules affecting profit and loss won’t change without warning. The U.S. Court for Appeals, District of Columbia Circuit, apparently believes otherwise. On February 21, the court ruled 2-1 that investors in shares of secondary residential mortgage lenders Fannie Mae and Freddie Mac, …

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