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Teamsters Pension Fund / Labor Department Lawsuit #256297

CBS Evening News for Wednesday, Feb 01, 1978
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(Studio) Labor Department's lawsuit against Teamsters president Frank Fitzsimmons and other officials of union for alleged mishandling of pension fund noted; details given.
REPORTER: Walter Cronkite

(DC) Labor Department civil lawsuit outlined; loans from pension fund for improvements to Stardust Hotel and Fremont Hotel in Las Vegas cited as example [Labor Secretary MARSHALL - hopes to recover all lost funds, but doesn't know what defs.' assets are and can't get money if it's not there to get.] Marshall's announcement with regard to Justice Department probe into possible criminal charges noted. Reaction of Florida Teamster dissident Paul Poulos cited. [POULOS - thinks it's Labor Department publicity stunt. Had hoped Labor and Justice would have gotten to bottom of situation.] Fitzsimmons' response made in California noted. [FITZSIMMONS - reads statement of response.] Details with regard to present control of pension fund and attempts to minimize losses by group of independent investment mgrs., supervised by Equitable Life Assurance Company, given. Florida and New York real estate properties mentioned.
REPORTER: Renee Poussaint

Cronkite, Walter;
Poussaint, Renee

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