Word: contracts
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...many Merkel critics say Germany needs to act now. Merkel's wait-and-see policy just isn't working, they argue. Economists now predict that Germany's export-dependent economy will contract by a record 7% this year. And the latest data from the European Central Bank show that despite the stimulus packages and bailouts across Europe, the region's banks still are not lending money. The volume of lending to the private sector in the eurozone, the 16 countries that use the common European currency, dropped 0.1% in February from the month before and lending to businesses also slipped...
...commissioner Tonya Antonucci has promised to keep costs in check. WPS players will earn an average of $32,000 for a seven-month contract, which frees the players to suit up overseas, or hold down another job, in the off-season to supplement their income. The average salary of WUSA players was around $40,000 a year; stars like Mia Hamm were paid as much...
...options largely has been harsh. Many associates privately complain about how law firms have betrayed trust by promising jobs they may not be in a position to deliver. On public (but anonymous) websites like Abovethelaw.com, most critics have expressed outrage at what they perceive to be a breach of contract. Still, Sandra Sperino, an assistant professor of law for the Beasley School of Law at Temple University in Philadelphia, notes that because most states provide at-will employment, firms can change the terms of a job offer at any time...
...Treasury has already given it. Congressman Barney Frank struck a strident tone when he proposed that the government enforce its right as owners of the company. In a briefing, Frank contended that the government should exercise this right as the majority shareholder and deny payment for breach of contract. In an appearance on Face the Nation, Frank proposed that in order to exercise these rights, "what we ought to be doing is suing as a shareholder, saying, 'look these are people who were paid bonuses that they weren't entitled...
...Except for some contract lawyers, very few people would argue that the portion of the AIG bonuses that was for employee retention are fair. The only reason the company isn't in receivership is because the government deemed it was "too big to fail." Fearing the financial market would be dealt a horrible blow if it went bankrupt, the government has provided AIG with several loans to prevent its untimely demise...