Through the Looking Glass.

This article examines whether the new labor organization annual financial report (Form LM-2) has significantly improved transparency of union finances over the old form by providing useful and easily understood information to union members, government, and the public. The new form, filed by unions with $250,000 or more in annual receipts, was first published by the U.S. Department of Labor's Office of Labor-Management Standards in December 2002. After reviewing the changes made in the new LM-2 form, the authors then use data drawn from a stratified random sample of union filings under the new LM-2 form to determine what additional gain in transparency has actually occurred. [ABSTRACT FROM AUTHOR]