The United Media Guild’s financial strength

When you vote to join the United Media Guild, you will join one of the strongest local unions in The Newspaper Guild.

The UMG is the result of the merger of the St. Louis Newspaper Guild and the Peoria Newspaper Guild. It has a significant war chest.

Our various investments totaled $3.52 million as of April 30. That total has held fairly steady since the end of the 2011 fiscal year, when the total was $3.54 million.

These assets produce investment income allowing us to spend more money on a year-to-year basis than we receive in dues. That allows us to the best possible job representing our members.

During the 2012 fiscal our local received $280,077.87 in dues. It also gained $120,990.95 in investment income and $51,970.56 from the sale of securities. We drew heavily from our investments largely because of legal fees of nearly $160,000 for the fiscal year.

That was just part of our years-long costs for pursuing federal lawsuits against Lee Enterprises. That litigation resulted in a significant settlement for Post-Dispatch retirees wrongly deprived of promised medical insurance.

None of that settlement was used to defray our legal costs. Every penny went to the aggrieved retirees. Few other Guild locals could have pursued such a case to its conclusion.

That is just one example of how the UMG is able things smaller locals cannot do – such as organizing new units and backing aggressive public campaigns to support our collective bargaining.

Leave a Reply

Your email address will not be published. Required fields are marked *