Hawaii: Teachers union unit files for bankruptcy

AP ^ | 04 Mar 2009 | AP

[BGHater]

The union that represents Hawaii's public schoolteachers says the activities and finances of a subsidiary corporation had been ``grossly mismanaged.''

Member Benefits Corp., which filed for bankruptcy Monday, has been shut down. It had managed the Hawaii State Teachers Association's Voluntary Employees Benefits Association.

The HSTA decided to dissolve the corporation last year after determining the for-profit subsidiary didn't fit within the union's mission.

The union has told it members the mismanagement was discovered by an outside team of attorneys and accountants that was brought in as part of the process of closing the corporation.

The HSTA says the problems included unpaid taxes, penalties and interest.

[machogirl]

wonder if any of the officials teach accounting, govt.?

[RebelTXRose]

There is a God!

[Don Corleone]

Member Benefits Corp., which filed for bankruptcy Monday, has been shut down. It had managed the Hawaii State Teachers Association's Voluntary Employees Benefits Association

In a similar vein, it is my understanding that AIG is the guarantor of the Congressional and Senate pension funds. Hmmmmmmm?

[MeanWestTexan]

Cool.

[bboop]

No! Say it isn’t so! A union that was mismanaged...? Who woulda thunk it? (WWTI)

[US_MilitaryRules]

lol

[thefactor]

bailout. everything will be fine. just print more money.

[alice_in_bubbaland]

Not to worry, they’ll get a bailout....

[4yearlurker]

Unions! There's nothing they can't bankrupt.