Thread regarding General Electric Co. layoffs

Financial Statement or Joke, One Can Never Tell

Original Sept. statement printed on 10/12/20, handed out at Oct. meeting, it was “pieced together too quick.” YTD in both columns. That was the excuse. New version just handed out, printed on 10/26/20. YTD is Oct’19-Sep20, the numbers printed on 10/12/20 should be the same as the number on 10/26/20. Those numbers should not have changed since the last day of September. However, here is a list of the YTD columns (for the year) that suddenly decreased in funds. GE Member Dues, Total Income, Steward Lost Time, Union Member Lost Time, Officer Lost Time, GE Payroll Expense, Total Expense, and Unrealized Gains/Loss. Dividends suddenly increased as well as Net Ordinary Income. Not good. From 10/12/20 to 10/26/20 somehow, the YTD, Net Income DECREASED by a Total of $47,372.03. How is that possible? I looked at the investments, I saw a new column listed on the new September statement version called Gain/loss for Month. Never had that column before and it’s not on October’s statement. It shows the mutual fund losing a total of $81,498.21 from the end of August to the end of September. Wow. That s—s. That specific investment account is now at a zero balance, the money was transferred into the other account because it’s safer, according to our BA. I do the math and the numbers don’t add up. It looks like $34,051.17 didn’t make it into the safer account. I was expecting the number to be closer to $81,498.21 since that was the total loss for our mutual fund. Then I realize if I add the $34,051.17 to the $47,372.03 (also add the 1.41 and 73.60 that was shown as negative in the accounts) it gives me the total loss of $81,498.21. Why does the statement (that they created) show that our mutual fund took that loss, but the numbers show they reduced the numbers in the area’s listed above to make up for $47,372.03. The mutual account did not decrease the full $81,498.21, it decreased about $33,976.16 (taking into account the -75.01) And our overall Net Income decreased by $47,372.03. Where did $47,372.03 really go? Our Net Income for the year Oct’19-Sep20 did not suddenly decrease between 10/12/20 and 10/26/20. This does not make sense, much like everything else that hall turns out. I’m ready for the lies and BS excuses. The DOL can go right to the source and bypass the BS. I can’t wait for them to complete their investigation. This sh-t does not make sense.

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| 2692 views | | 44 replies (last November 30, 2020) | Reply
Post ID: @OP+186rlLEs

44 replies (most recent on top)

Probslby into the business agents brand new truck

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Post ID: @1rrl+186rlLEs

The $ 47K went where-ever the 301 Union Board wanted it too. End of story little man

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Post ID: @1dcp+186rlLEs

Local 301. Treasurer doesn’t show up to membership meetings to answer questions or explain anything. Wonder if he’s already hiding like RM is? Can’t hide from that auditor though, right boys? I’m thankful for whistle blowers this year. Tired of certain people benefiting from my dime and turning around and lying to my face. Toot toot mthrfckrs!

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Post ID: @1vhz+186rlLEs

Sounds like you and the poster of "#1 Thing Carolina needs to do? Emphasize accounting/controllership and de-emphasize FP&A" are on the same page. Clear lack of proper financial oversight.

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Post ID: @1dre+186rlLEs

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