Word: pensioneer
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...three-month period, he was suspended by Ford seven times, culminating in a 30-day stretch off the job. Each time he filed a grievance, but his union failed to back him. Finally, last week Fields was fired. The company told him he could return with full seniority and pension rights, but only if he parked in the back lot or bought a domestic car within 60 days...
...take a salary dispute to arbitration after he had played in the majors for two years. The owners wanted to raise the eligibility requirement to three years and limit any salary increase to 100%. The players refused to budge from the status quo. The other sticking point came over pensions. Traditionally the owners have given one-third of national television and radio revenue to the players' pension fund. With a new TV contract worth $1.1 billion over six years, the players' share under the old formula would have risen from $15 million a year to $60 million. The owners instead...
Only when the players walked out did both sides compromise. The players agreed to raise the eligibility requirement for arbitration for new players from two to three years. The owners, for their part, agreed to drop the salary-cap proposal. On the owners' contribution to the players' pension fund, the two sides compromised at an average of $32.6 million a year for the next five years. The early reading was that the players on balance had prevailed, though in fact they mostly held on to earlier gains...
...thought he had his hands full dealing with a troubled ballpark project and sewer spills that were shutting down San Diego's beaches. But then Murphy, 62, a state superior court judge, became embroiled in an even bigger mess: a $1.35 billion deficit at the city's public-employee pension fund. The crisis has so discredited him, he almost lost his job last November to Donna Frye, a last-minute write-in candidate who runs a surf shop. She actually won more votes, but some 5,500 people who wrote in her name failed to shade in an oval...
...Murphy's predecessor who first approved underfunding the pension fund. But when a balloon payment became due in 2002, Murphy dodged it by fashioning another underfunding plan, winning the pension board's acceptance with a promise to hike pension payouts and give special benefits to the union presidents. Now the FBI, the U.S. Attorney and the SEC are investigating the deal. --By Terry McCarthy. With reporting by Jill Underwood/San Diego