[ Home | Contents | Next | Previous | Up ]
From: Joe Cuervo
Date: 07 Dec 2004
Time: 07:42:06 -0700
Remote Name: 208.227.66.2
Sharon in response to your e mail, when we purchased the building we paid $635,000, according to Colleen Callaghan's letter the value of the building has tripled. Some members have been estimating in the $2,000,000 range. Your point that the union is not in the business to make a profit, does not mean we have to strive to lose money. If this deal goes through with Richard Callaghan and his partners, and they take over the building for less then we paid for it. This will be a loss of at least a million dollars in growth to our general fund and we will be restricted to one floor of a building we could once claim was our. If you can't understand this, I just know what left to say. Joe Cuervo