Finance

Tacoma Teachers’ Strike Ends; Wins 14% Raise
Education, Features, Finance, Labor News Briefs, Law and Politics, Municipal Government

Tacoma Teachers’ Strike Ends; Wins 14% Raise

TACOMA, Wash.—Teachers in Tacoma voted almost unanimously Sept. 14 to ratify a contract that will give them raises averaging 14.4%, and returned to work Sept. 17, ending their seven-day strike. The vote was 2,022-23 in favor. The district had offered a 3.1% raise before the strike, and 7.5% after it started. The deal will increase…

Locked-Out Workers Seek to Help After Massachusetts Gas Explosion
Building Trades, Features, Finance, Labor News Briefs, Law and Politics

Locked-Out Workers Seek to Help After Massachusetts Gas Explosion

LAWRENCE, Mass.—Locked-out gas workers’ offer to help after a series of explosions Sept. 12 killed one person, injured at least 25, and damaged over 80 homes has gone unheeded. The presidents of the two unions locked out by the National Grid utility since June, United Steelworkers Locals 12003 and 12012, said in a statement Sept….

Steelworkers Call U.S. Steel Offer ‘Bad-Faith Attempt’
Features, Finance, Labor News Briefs, Law and Politics, National

Steelworkers Call U.S. Steel Offer ‘Bad-Faith Attempt’

PITTSBURGH, Pa.—The week after more than 16,000 United Steelworkers members voted overwhelmingly to authorize a strike at U.S. Steel, union leaders dismissed the company’s revised contract offer as “another clumsy and bad-faith attempt.” The proposed six-year deal would raise wages by a total of 14%, slightly more than the offer the union rejected. But, the…

How much reserve should be held in net assets?
Features, Finance, Law and Politics, New York

How much reserve should be held in net assets?

Factors to consider when determining the appropriate level of surplus In a recent Milliman report entitled “Status of collectively bargained benefits: Multiemployer health and welfare fund statistics,” Milliman analyzed the 2016 financial disclosures of 705 multiemployer health and welfare funds. One of the more interesting statistics analyzed was net assets (shown as months of total…

Tacoma Teachers Strike Might Last Rest of Month
Education, Features, Finance, Labor News Briefs, Law and Politics, Municipal Government, National

Tacoma Teachers Strike Might Last Rest of Month

TACOMA, Wash.—The 2,200 teachers on strike in Tacoma, Washington believe their walkout might last the rest of the month. “Teachers have the patience of saints,” first-year high-school teacher Megan Holyoke told USA Today on the picket line Sept. 10. “I think the district doesn’t understand that. We will wait this out.” The Tacoma strike was…

SEIU Hit With Another Suit for Fair-Share Refunds
Features, Finance, Health and Safety, Labor News Briefs, Law and Politics, Municipal Government, National

SEIU Hit With Another Suit for Fair-Share Refunds

SAN JOSE, Calif.—The union Service Employees International Union local representing local government employees in Central California is the latest to get hit with a lawsuit demanding that it refund fees paid by nonmembers. The National Right to Work Foundation filed a claim seeking “millions of dollars” from Service Employees International Union Local 521 on behalf…

Sanders Proposes Taxing Corporations for Workers’ Food Stamps
Features, Finance, Labor News Briefs, Law and Politics, National

Sanders Proposes Taxing Corporations for Workers’ Food Stamps

WASHINGTON, DC—Sen. Bernie Sanders (I-Vt.) plans to introduce a bill Sept. 5 that would force corporations such as Amazon, Walmart and McDonald’s to pay the government the full cost of benefits for low-wage workers their employees receive. The measure would assess a 100% tax on benefits such as food stamps, public housing, and Medicaid received…

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