Interest rates rise on short term Treasury bills
Washington AP reports Treasury sold 7.6 billion in three month bills at 5.86 percent discount, and 7.6 billion in six month bills at 5.89 percent, highest since June 30. Real yields rise to 6.03 percent and 6.16 percent respectively.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Ohio lawmakers vow to contest LTV retiree insurance cut
In Cleveland hearings Northeast Ohio lawmakers pledged to press Washington to block LTV Corp retiree life and health insurance cuts. About 76,566 retirees are affected, including 1,000 USW members. LTV filed for Chapter 11 protection, claiming it cannot fund the company paid coverage. The panel heard support for legal challenges and possible federal court action to enforce promised pension benefits.
MENTIONED IN THIS ARTICLE
Cleveland
Ohio
Washington
LTV Corp
Howard Meisenbaum
Cne Cy
Cleveland Mills
United Steelworkers
USW
Lynn Williams
Liv
Nes Ce
Baede Meraniepseaeth Metropolitan Life Insurance Co
John Hancock Mutual Life Insurance Co
Dallas
New York
U.S
Arlen Specter
R-Pa
James Traficant
Youngstown
Mahoning Valley
Justice Department
Traficant
Congress
Harvard Law
Vernon Countryman
LTV
Metzenbaum
Jim Butler
Bil L Amendment to Be Introduced by U S
A brief report notes an amendment proposed in Congress, named the Bil L amendment, aimed at addressing a specific legal or policy issue. The item highlights the expected introduction by U S lawmakers and potential implications for related statutes.
MENTIONED IN THIS ARTICLE
U.S
Union authorizes strike against Bell in five states
The Communications Workers of America votes to authorize a strike involving 65,000 workers against Ameritech and Bell companies in Ohio Illinois Indiana Michigan and Wisconsin unless a contract is reached by midnight August 9. The union cites opposition to eliminating cost of living allowances and lump sum wage increases and against insurance deductibles and copayments.
MENTIONED IN THIS ARTICLE
Cleveland
Communications Workers of America
CWA
Martin J. Hughes
Hughes
Ameritech Operating Companies
Bell Telephone Companies
Ohio
Ilinois
Indiana
Michigan
Wisconsin
Wage gains in union contracts reach 19 year low
Private sector union contracts covering about 1 million workers show an average first year pay raise of 1.2 percent, the lowest in 19 years, with lump sum bonuses and other gains not reflected in the BLS data. Economists say overall value to workers may be higher due to bonuses, profit sharing, and training programs.
MENTIONED IN THIS ARTICLE
Washington
Bureau of Labor Statistics
Bureau
John Zalusky
Afl-Cio
Bureau of National Affairs
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