"Think loan sharks charge predatory rates? Compared with what it costs to get out of union pension funds, those guys are cheap. When he was forced to downsize his last, part-time unionized trucker, George Kerver said he was charged nearly half a million dollars to help bail out the Teamsters union pension fund. "We got the bill and it was for $465,774," said Kerver, president of Fastdecks Inc., a concrete forming company in Walled Lake. "We have made three payments so far. The first one was due five days after our receipt of their demand. Three sets of lawyers have all warned us that this law is pay now and ask questions later."

Michigan Company Billed $465,774 For Teamsters Pension After Laying Off Its Last Unionized Trucker [Michigan Capitol Confidential]