Word: contracting
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...However, another contract the union signed with Mitsubishi back in September could become the template for the union's next contract with Detroit automakers. The UAW-Mitsubishi contract, which covers roughly 1,100 workers at the Japanese automaker's plant in Normal, Ill., called for workers to take a 14% pay cut, rolling back wages to $24 per hour from $28 per hour...
...benefit system to the new one isn't cheap and is stretching the financial reserves of the domestic companies. By 2020, GM, which has the largest number of retired employees, will have transferred some $23 billion to the new Voluntary Employee Benefit Association (VEBA), created by the contract. (That amount includes the $13.5 billion GM has already injected into the trust, plus another $9.5 billion yet to be contributed.) Ford owes $13.6 billion to its VEBA, and Chrysler, which doesn't make its finances public, owes between $6 billion and $9 billion to its new retiree-health-care trust...
...teachers through any means necessary. She has brought on extra staff to help principals navigate the byzantine termination process and says an unprecedented number of teachers have already been put on notice. But she cannot give teachers the huge raises she proposed unless the union agrees to a new contract. So this approach will be slower, more litigious and less inspiring. In other words, it will be all stick and no carrot. It's hard to say if anyone else would have been able to persuade the union to trade away tenure for cash bonuses, but Rhee's sometimes dismissive...
...courtroom thriller began last Thursday. Al Khalifa, 33, testified that Jackson, 50, reneged on a contract for a new album, an autobiography and a stage play after accepting millions of dollars in advances. The sheik said that in addition to covering Jacko's living and travel expenses during his year-long stay in Bahrain, he built the singer a recording studio, spent more than $300,000 securing him a "motivational guru" and gave him $250,000 in cash so Jackson "could entertain his friends at Christmas." Jackson has maintained that these were gifts from the Arab prince, an interpretation...
...Bill Clinton, and that superlawyer Vernon Jordan was trying to land her a job to buy her silence in the ongoing Paula Jones sexual-harassment suit against the President. The story rang a bell with the prosecutors, who had been pursuing evidence that Jordan helped obtain a lucrative consulting contract for another Clinton pal who was a potential witness in the Whitewater land-deal probe. Starr's team had heard enough from Tripp to wire her up for a planned meeting on Jan. 13 with Lewinsky, who ended up confiding more damaging information about Clinton: she claimed he had told...