As Detroit struggles to meet its obligations to fund retiree health funds and public sector pensions, the city is poised to enter a settlement with two banks that may see the banks recover around 75 cents on the dollar. As the New York Times explains, this recovery—far higher than that expected for Detroit’s other creditors—stems from the nature of Detroit’s obligation to the banks. Specifically, Detroit owes the banks money under a swap agreement, and collection of debts owing under swap agreements during a bankruptcy case isn’t stayed by the Bankruptcy Code.
Eight months after the collapse of Bangladesh’s Rana Plaza factory left more than 1,100 dead, retailers and labor groups are joining with the Bangladesh government to create a $40M fund to help those hurt by the tragedy. The New York Times is reporting that the families of those who lost their lives are expected to receive around $25,000 each; per capita income in Bangladesh is about $1,900/year.
The Washington Post offers a poignant profile of a cashier hired to work at one of DC’s new Wal-Mart locations, and the opportunities afforded by a regular paycheck and the chance at career advancement. Wal-Mart has already promoted 20 of the retailer’s 600 new DC employees to supervisory positions.
Daily News & Commentary
Start your day with our roundup of the latest labor developments. See all
August 1
The Michigan Supreme Court grants heightened judicial scrutiny over employment contracts that shorten the limitations period for filing civil rights claims; the California Labor Commission gains new enforcement power over tip theft; and a new Florida law further empowers employers issuing noncompete agreements.
July 31
EEOC sued over trans rights enforcement; railroad union opposes railroad merger; suits against NLRB slow down.
July 30
In today’s news and commentary, the First Circuit will hear oral arguments on the Department of Homeland Security’s (DHS) revocation of parole grants for thousands of migrants; United Airlines’ flight attendants vote against a new labor contract; and the AFL-CIO files a complaint against a Trump Administrative Executive Order that strips the collective bargaining rights of the vast majority of federal workers.
July 29
The Trump administration released new guidelines for federal employers regarding religious expression in the workplace; the International Brotherhood of Boilermakers is suing former union president for repayment of mismanagement of union funds; Uber has criticized a new proposal requiring delivery workers to carry company-issued identification numbers.
July 28
Lower courts work out meaning of Muldrow; NLRB releases memos on recording and union salts.
July 27
In today’s news and commentary, Trump issues an EO on college sports, a second district court judge blocks the Department of Labor from winding down Job Corps, and Safeway workers in California reach a tentative agreement. On Thursday, President Trump announced an executive order titled “Saving College Sports,” which declared it common sense that “college […]