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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (15324)	11/10/2004 12:23:36 AM
From: RealMuLan	Read Replies (4) of 116555

Companies Sue Union Retirees To Cut Promised Health Benefits Firms Claim Right to Change Coverage, Attempt to Pick Sympathetic Jurisdictions The Process Server Pays a Call By ELLEN E. SCHULTZ Staff Reporter of THE WALL STREET JOURNAL November 10, 2004; Page A1 When a deputy sheriff came to his door with a court summons, George Kneifel, a retiree in Union Mills, Ind., was mystified. His former employer was suing him. The employer, beverage-can maker Rexam Inc., had agreed in labor contracts to provide retirees with health-care coverage. But now the company was asking a federal judge to rule that it could reduce or eliminate the benefit. Many companies have already cut back company-paid health-care coverage for retirees from their salaried staffs. But until recently, employers generally were barred from touching unionized retirees' benefits because they are spelled out in labor contracts. Now, some are taking aggressive steps to pare those benefits as well, including going to court. online.wsj.com

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