Employment

  • March 20, 2006

    Delta Asks Court To Reject Employee Stock Options

    In a move to lop off any unnecessary costs weighing it down, Delta Air Lines Inc. asked a bankruptcy court Monday for permission to reject approximately 93 million stock options held by 70,000 current and former employees and directors.

  • March 15, 2006

    Northwest Bankruptcy Underscores Larger Pension Issues

    As the U.S. Department of Labor begins its investigation into Northwest Airlines’ pension plans, the controversy surrounding the bankrupt carrier’s alleged “systematic shortchanging” highlights a deeper problem: how to insure pension plans remain adequately funded in the face of financial difficulties.

  • March 9, 2006

    Riverstone Pleads For $6.55M Bonus Package

    With employee morale at a delicate point, bankrupt telecommunications company Riverstone Networks Inc. has asked the court to approve a $6.55 million bonus package designed to retain key employees as the company prepares for its upcoming asset sale.

  • March 9, 2006

    Employee Groups Reject Northwest Pay-Cut Proposal

    Bankrupt Northwest Airlines Corp. hit a wall this week when two employee groups from the International Association of Machinists and Aerospace Workers rejected a new labor contract and authorized a strike.

  • March 3, 2006

    T-Mobile's "Sidekick" Targeted In Patent Suit

    A small patent-holding company is seeking to halt sales of the popular Sidekick wireless e-mail device sold by telecom retailer T-Mobile USA Inc., accusing the company of patent infringement and widespread theft of trade secrets.

  • March 2, 2006

    Yahoo Sues Over Alleged Trade Secret Theft

    Internet search company Yahoo Inc. has sued a growing technology firm in state court, accusing the smaller rival of building its company with trade secrets poached by the six former Yahoo engineers who founded it.

  • March 1, 2006

    Pilots, Delta To Arbitrate Over Pay Slashes

    A deadline for Delta Air Lines Inc. and its pilots’ union to reach an agreement on more than $300 million in annual concessions passed Wednesday with no deal in the works.

  • March 1, 2006

    Northwest And Flight Attendants Union Strike Deal

    Bankrupt Northwest Airlines Corp. and its flight attendants union reached a pay cut agreement Wednesday, helping the beleaguered airline steer clear of a potential employee strike for now.

  • February 28, 2006

    Northwest Abandons Key Flight Attendant Request: Union

    In what amounts to a significant concession, bankrupt Northwest Airlines Corp. has reportedly retreated from an earlier demand to staff overseas flights with mainly non-U.S flight attendants, according to the airline’s Professional Flight Attendants Association.

  • February 27, 2006

    Showdown Begins Over Tower’s Union Contracts

    Despite the looming threat of a union strike, Tower Automotive Inc. pressed on with its quest to reject collective bargaining agreements on Monday, with the auto parts maker claiming that it would not be able to emerge from Chapter 11 proceedings if the contracts were upheld.

  • February 24, 2006

    Aloha Airlines Probe Targets Four Banks

    Four banks have been subpoenaed in connection with a federal investigation into whether Honolulu's Aloha Airlines illegally used employee pension funds to pay off bank loans prior to its Chapter 11 bankruptcy filing in December 2004.

  • February 21, 2006

    Calpine Asks Insurers To Cover Employee Defense Costs

    Looking to alleviate defense costs for several employees mired in class action securities litigation, bankrupt power company Calpine has asked a bankruptcy court judge to allow the company’s insurers to cover the litigation expenses so employees can focus on turning around the ailing company.

  • February 21, 2006

    Delta Fights For Executive Severance Plan

    Delta Airlines headed back to bankruptcy court this week, this time to defend its proposed severance package for company officers and directors. The plan has come under fire from the Delta pilot’s union, which asked the court to reject the $14.2 million proposal.

  • February 21, 2006

    GM Bids For Spot On Delphi Creditors Panel

    In the footsteps of the United Auto Workers union and the Pension Benefit Guaranty Corp., General Motors Corp. has made a bid to secure a seat on the creditors’ committee of scandal-ridden auto parts giant Delphi Corp., arguing that its appointment would “help to facilitate a consensual resolution.”

  • February 17, 2006

    Enron To Fork Over $134M For Workers, Retirees

    Enron Corp.’s workers and retirees will receive approximately $134 million under the defunct energy company’s settlement of government and employee claims, the U.S. Department of Labor announced.

  • February 13, 2006

    Northwest Pilots Gear Up For Strike

    Pilots for Northwest Airlines will decide whether or not to strike later in the month, casting their votes today about a proposed work stoppage in response to the airline’s proposal to end the union contract in favor of cheaper labor.

  • February 10, 2006

    As Pilots Inch Towards Strike, Delta Throws Bones

    With its disgruntled pilots union a gathering storm, Delta Air Lines Inc. offered this week to pay pilots $300 million in the event that it cuts its $1.89 billion pilot pension plan, although the embattled carrier has yet to decide whether it will do so.

  • February 9, 2006

    Pay Cuts Sustained For Northwest Flight Attendants

    Despite heated opposition from its flight attendants union, an interim pay cut agreement between embattled Northwest Airlines Corp. and the union has been extended while longer-term concessionary contracts are negotiated.

  • February 8, 2006

    Delphi Union Threatens Strike Over Incentive Plan

    An executive bonus plan that could pay out up to $500 million to company executives has raised the ire of rank-and-file employees at bankrupt auto parts maker Delphi, who are threatening to strike over the plan.

  • February 7, 2006

    Deaf To Union Pleas, Northwest Moves to Foil Strike

    In a bid to prevent a potential strike by its flight attendants union, Northwest Airlines has asked a bankruptcy judge to extend a pact between the company and its workers. But the union has refused to extend the deadline of the agreement, which expires next week.