Wed, Jul 20, 2005
More than 92-Percent Would Rather Fight Than Settle
Northwest Airlines mechanics Tuesday
authorized their union leaders to declare a strike rather than
accept the airline's request for additional concessions.
More than 92-percent of the mechanics voted to authorize a
The authorization comes as union leaders predict the National
Mediation Board to release both parties. Both sides have asked out,
since they're unable to come to an agreement. Neither side will
agree to an NMB request that they submit to binding
The airline has said it will probably have to file for
bankruptcy protection if it can't get unions to agree to $1.1
billion in concessions on pay and benefits.
Northwest stock is plummeting as a result -- a sell-off led by
Chairman Gary Wilson, who's reportedly dumped three million shares
for an estimated $18.7 million.
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