February 27, 2007: The Central States Pension Fund has invested $54 million in Wal-Mart, a notorious union-buster.
According to financial documents released by Central States, the fund owns $34.8 million in Wal-Mart stock and another $10.9 million in Wal-Mart bonds.
Since Central States invested in Wal-Mart, the fund has lost over $1.8 million on the stocks and $1 million on the bonds.
Central States also owns $8.8 million in Wal-Mart de Mexico. This stock has increased its value since the fund bought it.
With the labor movement and Change to Win uniting to fight back against Wal-Mart’s anti-union policies—and with Wal-Mart being such a bad investment—Teamster members have to ask: Why is Central States banking our retirement money on Wal-Mart?