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He does not agree that McMorgan failed on its commitment to the pension funds to check out the Symington financial statement before okaying the Mercado loan.

Bill Dereschuk is not the most popular guy at Operating Engineers Local 428 these days. Beyond his trial vigil, Dereschuk has repeatedly badgered union trustees for bank records that detail some unexplained expenditures.

The trustees arrogantly refused Dereschuk's request, saying that copying the records was too expensive and time-consuming and was not required by laws governing union pension funds.

So Dereschuk sicced the Department of Labor on Local 428. The department is currently investigating the bank records.

Michael Keenan, an attorney for the trustees, tells me Dereschuk's never-ending suspicions about possible wrongdoing are groundless. He says Local 428 is cooperating with the Department of Labor.

(Dereschuk is uncomfortable about the fact that I am writing about him, and not his other union buddies who are equally distrustful and suspicious of the management at Operating Engineers Local 428. He repeatedly says his friends Tommy Garner and Dale Helm have worked just as hard as he has, and explains that his name appears on correspondence to the union because the Dereschuk family owns a computer and his grandson can type.)

Dereschuk is the first to admit that pension-fund management will be vindicated if Manning succeeds in blocking Symington's debt.

Nevertheless, he is determined to bust the pension fund. He says he has a good chance because, among other things, the fund stopped taking new members in 1984. That means quite a few of the people who contributed to the pension might be close to retiring.

Why wouldn't they want to manage their own retirement money?

Why should they entrust their hard-earned dollars to trustees who turn around and spend it on lousy real estate loans and expensive lawyers and money managers to clean up the mess?

If the Local 428 dissidents ever succeed in getting their money, you can bet on one thing.

Bill Dereschuk won't go to cooking school.

Contact Terry Greene Sterling at 602-229-8437, or online at terry.greene@newtimes.com

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