Municipalities In Ch. 9: Rejecting Labor Agreements

Law360, New York (March 25, 2009, 12:00 AM EDT) -- The devastating consequences of an enduring global recession for businesses and individuals alike have been writ large in headlines worldwide, as governments around the globe scramble to implement assistance programs designed to jumpstart stalled economies.

Less visible amid the carnage wrought among the financial institutions, automakers, airlines, retailers, newspapers, homebuilders, homeowners and suddenly laid off workers is the plight of the nation’s cities, towns and other municipalities.

A shrinking tax base caused by plummeting real estate values and a high incidence of mortgage foreclosures, questionable investments...
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