Teamsters International takes over Local 331

[Omaha Steve]

http://www.pressofatlanticcity.com/top_three/story/7485909p-7380911c.html

Teamsters International takes over Local 331
By MAYA RAO Staff Writer, [phone]
Published: Saturday, June 16, 2007

The International Brotherhood of Teamsters has taken over Local 331 for the third time in two decades after uncovering alleged financial malfeasance and possible fraud.

Among those removed from office was President Joseph Yeoman, who vowed when elected in 1992 to ensure that the local would never come under trusteeship again. For nearly three years before his election, Yeoman served as assistant trustee running the Pleasantville-based local during its second international union takeover. The first lasted from 1986 to 1988.

The international union's president reported in a letter to more than 1,700 members Wednesday that Local 331 was in “dire financial straits” and that it would impose an emergency trusteeship immediately. A hearing will be held within 30 days to determine whether the trusteeship should continue.

Among the international union's findings were:

n The local has no financial policies to control spending or handle excessive debt. It has cash reserves of only $6,515 and its annual shortfall is projected at $31,000.

n The local's secretary-treasurer is uninvolved in administering the local, leaving its principal officer as the person solely responsible for its finances.

n The local inflated the value of its building by at least $350,000 on federal disclosure records.


FULL story at link.