Glenn Kalata 

Total Investments in our two main operating and savings accounts as of March 1'st amount to $4,988,820. Contributing to these totals was a cumulative gain of 7.7%, beating the local's investment benchmark index by 1.76%. A performance analysis chart is available to any member for the asking.

Payroll for the month of February totaled $84, 463 while expenses amounted to $75,253 for the month. Reduced CUM time along with some major reductions in our cost structure is having a positive impact on our overall spending.

The board recently finalized a budget that has the least deficit of any year over the last 9 years. Significant cost saving ideas have been implemented which will help the local get on the right side of the ledger.

I recently attended the CWA District One conference in New Jersey with most of the Executive board. It was quite apparent all of the different local unions are under pressure from their employers and their contracts. I attended several workshops from ATT wireless, workers comp and retiree meetings, all with the goal of educating local officers from our district. Many inspiring stories were shared with the delegation including how the casino workers are mistreated and taken advantage of in Atlantic City.

 Fidelity Investments informed me recently of a system upgrade, which knocked many members out of their on-line retirement accounts. Since last week, most should be back to normal, although a few cases are still being resolved as of this writing. 

Change, change, change! Those are the winds blowing from all employers these days especially ATT wireless, CSC, publishing and ATT landline. It is important for all of us to be flexible and stay informed. These companies are under extreme pressure to reduce costs any way they can. Our economy is heading for what looks to be a deep recession, which may have a major impact on all of us.

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