President John T. Niccollai
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CONTRACT NEGOTIATIONS UPDAT - President Niccollai reported today that the Union Contract Negotiating Committee met again today with the Negotiating Committee for the Employers. The Company gave us a second contract proposal, which was slightly better than the first proposal, but still far short of our goals and needs. The biggest positive move made by the Employers related to the fact that they will continue to fund our Defined Benefit Pension Plan for both full-time and part-time members. The biggest disappointment is the Company’s position to require a 9 ½% deduction from...
WEDNESDAY, OCTOBER 21, 2020
KINGS BANKRUPTCY UPDATE
President Niccollai reported today that the Rumor Mill is running wild again, with stories being issued by uninformed sources that are undermining the workforce and the integrity of the Company. Let’s all take a few minutes, settle down and deal with the facts and not a Rumor Mill that’s always negative and hurtful.
First, ACME is the successful bidder for 27 stores and seeks to enhance the reputation of Kings and grow the business. (That’s very positive.)
Second, ACME petitioned the FTC to keep open all the stores for which they...
CONTRACT NEGOTIATIONS UPDATE
President Niccollai reported today that the Union Negotiating Committee met with the Companies’ Negotiating Committees for the fifth time in an attempt to hammer out a new Collective Bargaining Agreement.
Based on prior negotiating sessions and continuing conferences among the Union and Companies’ Professionals, we were presented with an initial proposal including wage increases. President Niccollai foresees extremely serious problems relating to the restructuring of our Pension Plan from a Defined Benefit to a Defined Contribution Plan....
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