Word: labors
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Dates: during 2000-2009
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...wiped out, replaced as equity owners by the Treasury Department, with 70%, and the United Auto Workers (UAW), with 17.5%. GM's business in Europe, Opel, will be sold. As many as 14 U.S. factories are marked to close. The iconic Pontiac brand is probably finished. Under a new labor agreement with the UAW, GM's hourly domestic workforce, which numbered 600,000 at its peak, will drop to 40,000. In other words, 14 of every 15 GM jobs have vanished in roughly a generation. And the ripples: dealers losing franchises, thousands of suppliers doomed...
...three of four years and that 8% unemployment will become what they call "the new normal." Housing will not recover much if those assessments are true. Over the last decade the unemployment rate has been closer to 5% than to 8%. The three percentage point difference in a labor force which numbers more than 100 million people is a hole in the economy that cannot be filed. People without work are not going to be home buyers...
...argued," says Donald Fehr, the head lawyer for the players' union. "She was in control of her courtroom." Sotomayor issued an injunction against the owners that ordered them to restore free agency and arbitration. With the injunction in place, the players agreed to return to work while a new labor agreement was hammered...
...Organization for Women] right now." However, the legal community for the most part still has high praise for her judgment. "It was the correct ruling," says Rick Karcher, sports law professor at the Florida Coastal School of Law. "She assured that fair collective bargaining would take place under the labor laws." A few days later, a three-judge panel from the Second Circuit Court of Appeals upheld Sotomayor's injunction, and baseball played a 144-game season in 1995. (Read "Judge Sonia Sotomayor Headed for Easy Supreme Court Nomination...
...even though the rule is a "hardship" on players who are not yet members of the players' union. Says Karcher: "Her ruling gave the union the authority to negotiate terms on behalf of amateur players, taking them out of the anti-trust arena and keeping them in the labor arena. Both decisions, at least in the sports area, tend to suggest she is pro-labor...