Word: agreement
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...Fifty-three days after announcing a tentative agreement, the Giants and Bonds completed a contract Monday with a most unusual provision. It says, in essence, that the team can void the deal if Bonds is indicted "for any criminal act" specified in the contract, according to the Associated Press, and that Bonds waives the right to challenge - or to authorize the players' association to challenge - the team's decision. In the baseball business, that's called a cover-your-ass clause, and in the case of Bonds, it makes a lot of sense...
...That may be all well and good, but Bond's agent, Jeff Borris, apparently doesn't think the provision is enforceable. He told the AP that the collective bargaining agreement between baseball and the players would override the deal between Bonds and the Giants. He's right about the agreement taking precedence, but it is by no means clear that the two deals conflict...
...collective bargaining agreement provides for a uniform contract that sets employment terms for all players. A player and team cannot change it except to increase the minimum salary or to add "special covenants that contain an actual or potential benefit to the player," explains Clark Griffith, a lawyer and sports law professor in Minneapolis, Minn. Bonds would obviously not benefit from either an out-clause for indictments or a waiver of the right to challenge a Giants decision, so both provisions would seem unenforceable...
...departure--"a mutual agreement between him and the board," according to a Gap spokesperson--marks a low point in the history of a brand that not so long ago epitomized smart, affordable fashion. Named for "the gap in the market it hoped to fill," the Gap had something for everyone. You got your khakis there; your grandmother got her cardigans; Sharon Stone got her outfit for the Oscars. So what went wrong...
...heart of the dispute was the relationship between EDS and GM. The two have become closely linked: EDS runs all GM's computerized operations, from processing paychecks to programming robots on assembly lines. But in the original merger agreement Perot had insisted that he and EDS be granted a highly unusual degree of independence. He did not want the parent company to audit EDS. Moreover, he demanded that EDS be allowed to maintain a different pay structure from GM's?one that called for greater variation in salaries and bonuses, to give EDS employees better incentives for good performance...