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The United Auto Workers may be out of the hole now that President Bush has approved a $17 billion bailout of the U.S. auto industry, but the union isn't out of the bunker just yet.

Even as the industry struggles with massive losses, the UAW brass continue to own and operate a $33 million lakeside retreat in Michigan, complete with a $6.4 million designer golf course. And it's costing them millions each year.

Click here to see photos of the UAW's $33 million retreat.

The UAW, known more for its strikes than its slices, hosts seminars and junkets at the Walter and May Reuther Family Education Center in Onaway, Mich., which is nestled on "1,000 heavily forested acres" on Michigan's Black Lake, according to its Web site.

"Unions certainly have had real estate investments in the past, but investments are supposed to make money, not bleed money," said Wilson.

The UAW did not return calls from FOXNews.com, and a spokesman could not be reached for comment.

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