The property issue

John E Samuelsen is bent on hell with his idea to purchase a property as if that would be a panacea for all the ills that TWU Local 100 is in. Lets imagine if that a person wants to purchase a property, common sense would dictate that this person would consult his family. In addition seeking input to that purchase of the property due to the fact that the purchase is a significant transaction which would put the family in a financial bind for a long period of time. However that is not the case with John E Samueslen president of TWU Local 100 with his Take Backward Our Union team - he feels there is no need for a discussion with the membership to seek their approval but rather with his yes men.

Now lets look at this property purchase maze which John E Samuelsen has concocted. First he chose to purchase the property on 350 Schemerhorn Avenue - he laced that property with wild claims in the mass membership 6, 2010. Prudent minds saw John E Samuelsen faulty leadership by putting an end to his meaningless claims.

Second the property on Atlantic Avenue between 3rd Avenue and 4th Avenue the asking price was twenty eight million - the property has rental income at the bottom, probably has adequate space to house Take Backward Our Union cronies. However it has minuscule parking spaces - can you guess those minuscule parking spots to whom they will go to? Your guess is good as ours. The appraisal values the property is worth thirteen million. However the owner has lowered the price to fifteen million that is two million over the appraisal. This property needs renovation that would be worth ten million - clearly this property has a lot of problems. 

Third the property at 205 Montague Ave by Brooklyn Bridge, the asking price was forty eight million. The property has rental income at the bottom, has two floors condominium style however it may not be able to accommodate those burly Take Backwards Our Union team (unless they are put on a strict communist diet under the supervision of the supreme communist from RTO). The appraisal values the property is worth forty two million. However the owner came down to forty five million that is three million above the appraisal.

Forth the property at 195 Montague Avenue, fifth the property at Bushwick by 8th Avenue a vacant factory offered at single digit millions. However they both need extensive renovation which is costly - definitely John E Samuelsen is taking TWU Local 100 to Brooklyn one wonders why. 

We here in why did you join the union believe a third (disinterested) party from a not for profit organization who are well versed in real estate matters who can take the view of what is in the best interest of the membership should handle this property purchase. We believe John E Samuelsen is not diligent, or impartial in his performance on this matter. One wonders if the building fund has about twenty six to twenty eight million why would one purchase a property beyond his means? We believe the prudent minds will stop him on his tracks with his ridiculous ideas. After the interim audit from the TWU International it is clear that John E Samuelsen is unable to safeguard the membership monies - in addition the failure from the executive board that could not discipline him for misappropriating or borrowing membership monies.

We here in why did you join the union believe that TWU Local 100 has no right to pay one penny more than the appraisal. If in the event that this happens during John E Samuelsen’s tenure - the numbers are mind numbing thus he should not serve as administrator on this financial transaction concerning the purchase of the property due to his past practices that is reflected in the U.S. Department of Labor Form LM-2 Labor Organizational Annual Report of 2010 - file number: 003-424 - that would violate the fiduciary obligation, TWU Constitution in addition to TWU Local 100 by laws.