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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (47695)	5/28/1998 5:45:00 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 61433

Should I buy on fact or sell short on rumor?<g> Jeff

To: djane who wrote (47695)	5/28/1998 7:08:00 PM
From: djane	Respond to of 61433

Union Members Vote Strike Authorization at LU; Negotiations Continue as May 30 Contract Expiration Nears Company Press Release SOURCE: Communications Workers of America Thursday May 28, 11:44 am Eastern Time WASHINGTON, May 28 /PRNewswire/ -- Members of the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW) have voted overwhelmingly to authorize a strike at Lucent Technologies if contract talks covering 44,000 workers fail. The current union contracts expire at midnight on Saturday, May 30. CWA and IBEW, which are bargaining jointly with the telecom manufacturing giant, reported that members of both unions voted by more than a 9 to 1 margin to give their leaders the authorization to call a strike if necessary. CWA represents 25,000 Lucent workers, the IBEW about 19,000. As negotiations continued in Washington, D.C., this week, union negotiators said the sides were far apart on major issues. CWA's chief negotiator, Vice President James Irvine, cited demands by Lucent to shift health care costs to workers and retirees as ''totally unacceptable.'' ''Considering that joint union-management programs actually reduced Lucent's health care costs by more than 10 percent last year alone, it is outrageous for this highly profitable company to demand concessions from our members and to break faith with its retired workers,'' he said. Frank Possinger, President of the IBEW's System Council EM-3, composed of local unions representing clerical and high tech production workers at ten Lucent facilities, expressed the unions' strong opposition to company demands that would restrict workers' ability to transfer to jobs within Lucent and would increase the subcontracting of work to outside sources. ''The company talks a good game about flexibility and mobility in today's tough business environment,'' Possinger said, ''but they're clinging to the rigid ways of the past and undermining their skilled work force.'' Also unresolved are wage and pension improvements and many other key issues, according to union negotiators. Lucent Technologies comprises what was formerly AT&T's manufacturing, installation and Bell Laboratories operations. Since it was spun off from AT&T in 1996, Lucent has been one of the hottest companies in telecommunications, posting an increase in stock value of more than 400 percent. SOURCE: Communications Workers of America Related News Categories: telecom Help Copyright c 1998 PRNewswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?