Unpatriotic Teamsters Hoarding Mounds of Cash

The Left’s working motto consistently turns out to be “do as I say, not as I do.” How else could they possibly make bold pronouncements to the media but live the exact opposite?

The day before his declaration of war on the Tea Party movement, Teamsters President James Hoffa appeared on CNN and deemed American companies as “unpatriotic,” according to the Political Ticker.

“I think the president should challenge the patriotism of these American corporations that are sitting on the sidelines,” Hoffa said. “The problem in America isn’t that we don’t have enough money. We’ve got more money than any other country in the world. The problem is American businesses not spending it and not getting it in the game.”

Is Hoffa willing to have his own patriotism challenged? Because some inconvenient truths emerge from the financial report his Teamsters union filed with the federal government.

According to an LM-2 report filed earlier this year, the International Brotherhood of Teamsters, which represents truck drivers and some school employees, ended 2010 with $108,608,477 in the bank. That’s a whopping 24.9% increase in net assets over 2009, when the union reported $86,942,076 in assets.

In contrast, the Teamsters reported $88,371,439 in liabilities. So if the union could afford to go without any new revenue and still meet its obligations for well over 12 months.

There is a trend in the union’s growing net assets. The Teamsters ended 2009 with $86,942,076 in the bank, according to that year’s LM-2 report. That’s an even more impressive 33.4% increase in net assets over 2008, when the union reported $65,148,734 in assets.

From 2008 to 2010, the Teamsters net assets grew an impressive 66.7% – a rate that would make any corporate board of directors smitten with its CEO.

So, James, where is your American spirit? You’re hoarding cash, just like you accuse the corporations of doing. Why doesn’t the union do its part and hire some unemployed Americans to do whatever the Teamsters actually do?

Or is that just the responsibility of the fat cat, jet-owning, unpatriotic CEOs?

And while we’re at it, let’s talk about your $368,000 annual compensation package. Where’s your solidarity with the unemployed workers of Detroit? Can’t you give up your “fair share” of your salary and perks so they can have a little? Or do you enjoy living like a corporate CEO?

The reason corporations – and apparently unions – are hoarding investment dollars is because President Obama and his administration have cultivated an unstable environment in which to do business. Companies don’t know what their tax, regulatory and health care liabilities are going to be under this anti-business administration, so they’re sitting on the sidelines. They’re being responsible to their investors and existing employees.

The best thing to do is to drop the strong-arm rhetoric and convince the president to create a stable environment to allow business to do what it does best – create job opportunities for Americans. But that would run contrary to the leftist, Hoffa-type gasbag narrative of evil, unpatriotic corporations, and we just can’t have that in an election season.