UH-OH! Looks Like IBEW Local 103 Boss Might Have a Problem
Boston Herald: "Boston official failed to disclose union ties to big project - Vote raises ethics cloud"
The Boston Herald reported on Friday, November 22, 2013 that Michael Monahan, business manager of IBEW Local 103 failed to recuse himself as chairman of the Boston Redevelopment Authority on a vote to approve a large scale construction project known as One Congress Street that is funded by the National IBEW union.
FUN FACT: National IBEW President Edwin Hill took in a cool $400,968 in 2013, according to federal filings. In fact, a quick scan of the International union's officers and directors show that hard working IBEW members shelled out a whopping $4,355,723 in 2013 for their salaries. To view the federal filing, click here.
According to the Herald, "...in a quarterly newsletter Monahan sent to his members earlier this year, he highlighted One Congress Street among a group of prominent developments in Boston, including the Liberty Hotel and 33 Arch St., that have benefited his union’s trust fund and provided jobs.
“Presently, $120 million of our pension money is allocated to real estate investments,” he wrote. “We have benefited both from very solid returns that our real estate portfolio has realized, and also in numerous construction jobs that have resulted from these investments.”
The Herald went on to report that Monahan, also told his members, "the "NEBF real estate portfolio has been a major contributing factor to the healthy condition of the Local 103 Pension Plan." To read the full news article and view the video of Monahan trying to slither out of his mess, click here
We have reported on the bad behavior of Monahan and his minions for some time now, but this is a sheer embarrassment for the National and local IBEW unions. Really, does the greed and chicanery ever stop?