Allied Bids To Dump Labor Contracts

Law360, New York (February 6, 2007, 12:00 AM EST) -- After months of failed negotiations, Allied Holdings Inc. has asked the bankruptcy court for approval to ditch its labor union contracts, hoping the move will push the auto supplier closer to emerging from Chapter 11 protection.

On Friday, the embattled auto supplier pleaded with the U.S. Bankruptcy Court in Atlanta to allow it to shed its union contracts, arguing that it needs to save another $65 million in yearly costs before it can emerge from bankruptcy.

Allied is hoping to reap these millions of dollars in...
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