Wilmington Trust, National Association, As Successor Contract Administrator

Total Page:16

File Type:pdf, Size:1020Kb

Wilmington Trust, National Association, As Successor Contract Administrator UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION ----------------------------------------------------x : : In re: Chapter 9 : CITY OF DETROIT, MICHIGAN, : Case No. 13-53846 : Debtor. Hon. Steven W. Rhodes : : ----------------------------------------------------x STIPULATION TO ENTRY OF JOINT FINAL PRETRIAL ORDER BY DEBTOR AND CERTAIN PLAN OBJECTORS Pursuant to Local Bankruptcy Rule 7016-1 and paragraph 6(c) of the Eighth Amended Order Establishing Procedures, Deadlines and Hearing Dates Relating to the Debtor’s Plan of Adjustment (Aug. 13, 2014) [Dkt. 6699], (a) the City of Detroit, Michigan (the “City”), the proponent of the Sixth Amended Plan for the Adjustment of Debts of the City of Detroit (Aug. 20, 2014) [Dkt. 6908] (as it may be further amended, modified or supplemented, and including all exhibits and attachments thereto, the “Plan”), (b) certain supporters of the Plan (collectively with the City, the “Plan Supporters”), including The Detroit Institute of Arts, a Michigan nonprofit corporation (the “DIA Corp.”), the Official Committee of Retirees of the City of Detroit (the “Committee”), and the Police and Fire 1 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 1 of 393 Retirement System of the City of Detroit and the General Retirement System of the City of Detroit (together, the “Retirement Systems”), and (c) certain objectors to the Plan (collectively, the “Objectors”), including (i) Syncora Guarantee Inc. and Syncora Capital Assurance Inc. (together, “Syncora”), (ii) Financial Guaranty Insurance Company (“FGIC”), (iii) Assured Guaranty Municipal Corporation (“Assured”), (iv) National Public Finance Guarantee Corporation (“National”), (v) Berkshire Hathaway Assurance Corporation (“BHAC”), (vi) U.S. Bank National Association, as Indenture Trustee for the DWSD Bonds (the “Trustee”, and together with Assured, and National and BHAC, the “DWSD Parties”), (vii) Wilmington Trust, National Association, as successor contract administrator (“WTNA”), (viii) the Ad Hoc COPs Holders , (ixviii) International Union, UAW (“UAW”), (ix) the County of Wayne, Michigan, (xi) the County of Oakland, Michigan, and (xii) the County of Macomb, Michigan, by and through its County Agency, Anthony V. Marrocco, the Macomb County Public Works Commissioner, and the Macomb Interceptor Drain Drainage District (“Macomb Parties”), have conferred and, as indicated by the signatures of counsel below, hereby stipulate to entry of the Joint Final Pretrial Order attached hereto as Exhibit 1 and move the Court for its entry. 2 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 2 of 393 Dated: August 25, 2014 Respectfully submitted, /s/ Bruce Bennett /s/ James H.M. Sprayregen, P.C. Bruce Bennett (CA 105430) James H.M. Sprayregen, P.C. JONES DAY Ryan Blaine Bennett 555 South Flower Street Stephen C. Hackney Fiftieth Floor KIRKLAND & ELLIS LLP Los Angeles, California 90071 300 North LaSalle Telephone: (213) 243-2382 Chicago, Illinois 60654 Facsimile: (213) 243-2539 Telephone: (312) 862-2000 [email protected] Facsimile: (312) 862-2200 E-mail: [email protected] David G. Heiman (OH 0038271) E-mail: [email protected] Heather Lennox (OH 0059649) E-mail: [email protected] JONES DAY North Point - and – 901 Lakeside Avenue Cleveland, Ohio 44114 Stephen M. Gross Telephone: (216) 586-3939 David A. Agay Facsimile: (216) 579-0212 Joshua Gadharf [email protected] MCDONALD HOPKINS PLC [email protected] 39533 Woodward Avenue Bloomfield Hills, MI 48304 Thomas F. Cullen, Jr. (DC 224733) Telephone: (248) 646-5070 Gregory M. Shumaker (DC 416537) Facsimile: (248) 646-5075 Geoffrey S. Stewart (DC 287979 E-mail: [email protected] JONES DAY E-mail: [email protected] 51 Louisiana Ave., N.W. E-mail: [email protected] Washington, D.C. 20001 Telephone: (202) 879-3939 Counsel for Syncora Guarantee Inc. and Syncora Facsimile: (202) 626-1700 Capital Assurance Inc. [email protected] [email protected] [email protected] 3 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 3 of 393 Robert S. Hertzberg (P30261) /s/ Alfredo R. Pérez Deborah Kovsky-Apap Alfredo R. Pérez PEPPER HAMILTON LLP WEIL, GOTSHAL & MANGES LLP 4000 Town Center 700 Louisiana Street, Suite 1700 Suite 1800 Houston, TX 77002 Southfield, MI 48075 Telephone: (713) 546-5000 Telephone: (248) 359-7300 Facsimile: (713) 224-9511 Facsimile: (248) 359-7700 Email: [email protected] [email protected] [email protected] – and – Counsel for the City of Detroit, Ernest J. Essad Jr. Michigan Mark R. James WILLIAMS, WILLIAMS, RATTNER & PLUNKETT, P.C. 280 North Old Woodward Avenue, Suite 300 _By: /s/ Robert D. Gordon Birmingham, MI 48009 Robert D. Gordon (P48627) Telephone: (248) 642-0333 Jennifer K. Green (P69019) Shannon L. Facsimile: (248) 642-0856 Deeby (P60242) Email: [email protected] 151 South Old Woodward Avenue Email: [email protected] Suite 200 Birmingham, Michigan 48009 Attorneys for Financial Guaranty Insurance Telephone: (248) 988-5882 Company Facsimile: (248) 988-2502 [email protected] By: /s/ Lawrence A. Larose [email protected] Lawrence A. Larose [email protected] Samuel S. Kohn Robert A. Schwinger Counsel to the Police and Fire Eric Daucher Retirement System of the City of Detroit CHADBOURNE & PARKE LLP and the General Retirement System of 30 Rockefeller Plaza the City of Detroit New York, NY 10012 Telephone: (212) 408-5100 [email protected] [email protected] [email protected] [email protected] Attorneys for Assured Guaranty Municipal Corp. 4 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 4 of 393 By: /s/ Claude Montogomery By: /s/ Guy S. Neal Claude Montgomery Jeffrey E. Bjork Carole Neville Gabriel MacConaill DENTONS US LLP SIDLEY AUSTIN LLP 1221 Avenue of the Americas 555 West Fifth Street, Suite 4000 New York, New York 10020 Los Angeles, California 90013 Tel: (212) 768-6700 Telephone: (213) 896-6000 Fax: (212) 768-6800 [email protected] [email protected] [email protected] [email protected] James F. Bendernagel, Jr. Sam Alberts Guy S. Neal Dan Barnowski SIDLEY AUSTIN LLP DENTONS US LLP 1501 K Street, N.W. 1301 K Street, NW, Washington, D.C. 20005 Suite 600 East Tower Telephone: (202) 736-8041 Washington, DC 20005 [email protected] Tel: (202) 408-6400 [email protected] Fax: (202) 408-6399 [email protected] - and – [email protected] Louis P. Rochkind (P24121) BROOKS WILKINS SHARKEY & Paul R. Hage (P70460) TURCO PLLC JAFFE RAITT HEUER & WEISS, P.C. Matthew E. Wilkins 27777 Franklin Road, Suite 2500 Paula A. Hall Southfield, MI 48034-8214 401 South Old Woodward, Suite 400 Telephone: (248) 351-3000 Birmingham, Michigan 48009 [email protected] Direct: (248) 971-1711 Cell: (248) 882-8496 Counsel for National Public Finance Guarantee Fax: (248) 971-1801 Corp. [email protected] [email protected] Attorneys for the Official Committee of Retirees of the City of Detroit, Michigan 5 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 5 of 393 HONIGMAN MILLER SCHWARTZ AND COHN LLP By:/s/Arthur T. O’Reilly /s/ My Chi To________________ Arthur T. O’Reilly (P70406) DEBEVOISE & PLIMPTON LLP Jason R. Abel (P70408) M. Natasha Labovitz Scott B. Kitei (P78064) My Chi To 2290 First National Building 919 Third Avenue 660 Woodward Avenue New York, New York 10022 Detroit, MI 48226-3506 Telephone: (212) 909-6000 Telephone: (313) 465-7628 Facsimile: (212) 909-6836 Facsimile: (313) 465-7629 [email protected] Email: [email protected] [email protected] and Attorneys for Berkshire Hathaway Assurance Corporation CRAVATH, SWAINE & MOORE LLP Richard Levin By: /s/ David E. Lemke Worldwide Plaza David E. Lemke (TN13586) 825 Eighth Avenue Paul S. Davidson (TN11789) New York, NY 10019-7475 Heather J. Hubbard (TN23699) Telephone: (212) 474-1000 Courtney M. Rogers (TN25664) WALLER LANSDEN DORTCH & DAVIS, LLP Attorneys for The Detroit Institute of 511 Union Street, Suite 2700 Arts Nashville, Tennessee 37219 Telephone: (615) 244-6380 Fax: (615) 244-6804 [email protected] [email protected] [email protected] [email protected] – and – 6 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 6 of 393 Robert J. Diehl, Jr. (MI31264) Jaimee L. Witten (P70068) BODMAN PLC 1901 St. Antoine Street, 6th Floor Detroit, Michigan 48226 Telephone: (313) 393- 7597 Fax: (313) 393-7579 [email protected] [email protected] Counsel for U.S. Bank National Association, as Indenture Trustee for the DWSD Bonds By: /s/ Heath D. Rosenblat Kristin K. Going, Esq. Heath D. Rosenblat, Esq. DRINKER BIDDLE & REATH LLP 1177 Avenue of the Americas, 41st Floor New York, New York 10036-2714 E-mail: [email protected] E-mail: [email protected] Telephone: (212) 248-3140 -and- Dirk H. Beckwith, Esq. (P35609) FOSTER SWIFT COLLINS & SMITH, P.C. 32300 Northwestern Highway, Suite 230 Farmington Hills, Michigan 48334-1471 E-mail: [email protected] Telephone: (248) 539-9918 Counsel for Wilmington Trust, National Association, as Successor Contract Administrator 7 13-53846-swr Doc 7060 Filed 08/25/14 Entered 08/25/14 22:18:03 Page 7 of 393 By: /s/Kenneth E. Noble KATTEN MUCHIN ROSENMAN LLP Kenneth E. Noble John J. Ramirez 575 Madison Avenue New York, NY 10022-2585 Tel: (212) 715-9393 E-mail: [email protected] John. [email protected] Counsel for Deutsche Bank AG, London By: /s/ Deborah L. Fish ALLARD & FISH, P.C.
Recommended publications
  • The Bankruptcy of Detroit: What Role Did Race Play?
    The Bankruptcy of Detroit: What Role did Race Play? Reynolds Farley* University of Michigan at Michigan Perhaps no city in the United States has a longer and more vibrant history of racial conflict than Detroit. It is the only city where federal troops have been dispatched to the streets four times to put down racial bloodshed. By the 1990s, Detroit was the quintessential “Chocolate City-Vanilla Suburbs” metropolis. In 2013, Detroit be- came the largest city to enter bankruptcy. It is an oversimplification and inaccurate to argue that racial conflict and segregation caused the bankruptcy of Detroit. But racial issues were deeply intertwined with fundamental population shifts and em- ployment changes that together diminished the tax base of the city. Consideration is also given to the role continuing racial disparity will play in the future of Detroit after bankruptcy. INTRODUCTION The city of Detroit ran out of funds to pay its bills in early 2013. Emergency Man- ager Kevyn Orr, with the approval of Michigan Governor Snyder, sought and received bankruptcy protection from the federal court and Detroit became the largest city to enter bankruptcy. This paper explores the role that racial conflict played in the fiscal collapse of what was the nation’s fourth largest city. In June 1967 racial violence in Newark led to 26 deaths and, the next month, rioting in Detroit killed 43. President Johnson appointed Illinois Governor Kerner to chair a com- mission to explain the causes of urban racial violence. That Commission emphasized the grievances of blacks in big cities—segregated housing, discrimination in employment, poor schools, and frequent police violence including the questionable shooting of nu- merous African American men.
    [Show full text]
  • INSIDE HERE IS a CLOUD NO LARGER Than a California Initiative in the Sky
    Tax Debate EDITED BY · MICHAEL HARRINGTON May 1979 ~ 02 Vol. VII No. 5 Is Clouded By Michael H arrington INSIDE HERE IS A CLOUD NO LARGER than a California initiative in the sky. It is one of many in Changes in National Staff, p. 4 the gathering storm over bud­ Although 1t has been denied that the 1ob is get balancing either through reserved for people with the initials JC, it state-wide initiatives or a Con­ is true that Jack Clark will hand over the reins stitutional amendment. It is of office to Jim Chapin this month. Marjorie Paul Gann's proposal to limit Phyfe made the Democratic Party take notice spending increases by any jurisdiction in with DEMOCRATIC AGENDA . Now she will California to the rise in inflation and pop­ do similar work for the Machinists. ulation. ''One does not per­ Fighting the Corporations, p. 5 Gann, of course, is the co-author of suade people to go While corporate powers urge people to eat Proposition 13. In making this move, beyond Franklin Roose­ cake, Massachusetts Fair Share organizes he is pioneering an approach that is gain­ velt's New Deal by working class and middle income people ing on the Right and raising issues that around bread and butter issues. Ron Bloom touch upon the national debate on tax pandering to Herbert looks at Fair Share's strategies. policy. Hoover's critique. ,, Socialist Notes, p. 7 That debate has tantalized some seg­ DSOCers around the country take part ments of the Left, for it holds out the in many fights.
    [Show full text]
  • U:\OK to Print 117Th\43780.TXT
    LEGISLATIVE PROPOSALS TO PUT THE POSTAL SERVICE ON SUSTAINABLE FINANCIAL FOOTING HEARING BEFORE THE COMMITTEE ON OVERSIGHT AND REFORM HOUSE OF REPRESENTATIVES ONE HUNDRED SEVENTEENTH CONGRESS FIRST SESSION FEBRUARY 24, 2021 Serial No. 117–4 Printed for the use of the Committee on Oversight and Reform ( Available on: govinfo.gov, oversight.house.gov or docs.house.gov U.S. GOVERNMENT PUBLISHING OFFICE 43–780 PDF WASHINGTON : 2021 COMMITTEE ON OVERSIGHT AND REFORM CAROLYN B. MALONEY, New York, Chairwoman ELEANOR HOLMES NORTON, District of JAMES COMER, Kentucky, Ranking Minority Columbia Member STEPHEN F. LYNCH, Massachusetts JIM JORDAN, Ohio JIM COOPER, Tennessee PAUL A. GOSAR, Arizona GERALD E. CONNOLLY, Virginia VIRGINIA FOXX, North Carolina RAJA KRISHNAMOORTHI, Illinois JODY B. HICE, Georgia JAMIE RASKIN, Maryland GLENN GROTHMAN, Wisconsin RO KHANNA, California MICHAEL CLOUD, Texas KWEISI MFUME, Maryland BOB GIBBS, Ohio ALEXANDRIA OCASIO-CORTEZ, New York CLAY HIGGINS, Louisiana RASHIDA TLAIB, Michigan RALPH NORMAN, South Carolina KATIE PORTER, California PETE SESSIONS, Texas CORI BUSH, Missouri FRED KELLER, Pennsylvania DANNY K. DAVIS, Illinois ANDY BIGGS, Arizona DEBBIE WASSERMAN SCHULTZ, Florida ANDREW CLYDE, Georgia PETER WELCH, Vermont NANCY MACE, South Carolina HENRY C. ‘‘HANK’’ JOHNSON, JR., Georgia SCOTT FRANKLIN, Florida JOHN P. SARBANES, Maryland JAKE LATURNER, Kansas JACKIE SPEIER, California PAT FALLON, Texas ROBIN L. KELLY, Illinois YVETTE HERRELL, New Mexico BRENDA L. LAWRENCE, Michigan BYRON DONALDS, Florida MARK DESAULNIER, California JIMMY GOMEZ, California AYANNA PRESSLEY, Massachusetts VACANCY DAVID RAPALLO, Staff Director MARK STEPHENSON, Director of Legislation ETHAN VANNESS, Professional Staff ELISA LANIER, Chief Clerk CONTACT NUMBER: 202-225-5051 MARK MARIN, Minority Staff Director (II) CONTENTS Page Hearing held on February 24, 2021 ......................................................................
    [Show full text]
  • PA Tax Reform Commission Final Report
    PENNSYLVANIA BUSINESS TAX REFORM COMMISSION REPORT TABLE OF CONTENTS 1. Chairman’s Letter 2. Table of Contents 3. Executive Order 4. Final Report 5. Interim Report 6. Commission Members 7. Meetings Held 8. List of Testimony Presented 9. Criteria for Pennsylvania Business Tax Reform Commission 10. State Corporate Net Income Tax Issues – National Overview 11. Pennsylvania Corporate Net Income Tax Issues – Overview 12. Existing Department of Community and Economic Development Initiatives - 1 - MAJOR RECOMMENDATIONS OF THE COMMISSION 13. Reduction of Pennsylvania Corporate Net Income Tax Rate A. Current Pennsylvania Law – Tax Rate of 9.99% B. Reasons for Change C. Discussion of the Recommendation 1. Testimony Presented at the Commission Meetings 2. Comments by Commission Members 3. Other State Tax Commission Recommendations D. Evaluation of the Recommendation Under Established Criteria E. Commission Members’ Major Recommendation F. Parameters Associated with the Recommendation 1. Assumptions 2. Contingencies Impacting Fiscal Estimate G. General Economic Impact Considerations in Arriving at Recommendation 1. Business Tax Burden 2. Business Tax Climate H. Distributional Effect of the Proposal by Industry - 2 - MAJOR RECOMMENDATIONS OF THE COMMISSION 14. Modification of Existing Pennsylvania Net Operating Loss Provisions A. Current Pennsylvania Law – Annual $2,000,000 Limit on Use of Net Operating Loss Carryover B. Reasons for Change C. Discussion of the Recommendation 1. Testimony Presented at the Commission Meetings 2. Comments by the Commission Members 3. Other State Tax Commission Recommendations D. Evaluation of the Recommendation Under Established Criteria E. Commission Members’ Major Recommendation F. Parameters Associated with the Recommendation 1. Assumptions 2. Contingencies Impacting Static Revenue Estimate G.
    [Show full text]
  • K:\My Documents\Black\Pleadings\Treas
    Case 2:09-cv-13616-AJT-MKM Document 164 Filed 12/20/10 Page 1 of 55 UNITED STATES DISTRICT COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION ) No. 2:09-cv-13616-AJT-MKM DENNIS BLACK, et al.,) ) RENEWED MOTION TO DISMISS OF Plaintiffs, ) DEFENDANTS U.S. DEPARTMENT OF ) THE TREASURY, PRESIDENTIAL v. ) TASK FORCE ON THE AUTO ) INDUSTRY, TIMOTHY F. GEITHNER, PENSION BENEFIT GUARANTY ) STEVEN L. RATTNER, AND RON A. CORPORATION, et al., ) BLOOM Defendants. ) ) Defendants U.S. Department of the Treasury, Presidential Task Force on the Auto Industry, Timothy F. Geithner, Steven L. Rattner, and Ron A. Bloom hereby move pursuant to Fed, R. Civ. P. 12(b)(1) and (6) to dismiss plaintiffs’ claim against them for lack of subject matter jurisdiction and for failure to state a claim upon which relief can be granted. The grounds for that motion are set forth in the memorandum submitted herewith. Plaintiffs advise through counsel that they oppose the motion. Respectfully submitted, TONY WEST Assistant Attorney General BARBARA L. McQUADE United States Attorney PETER A. CAPLAN Assistant United States Attorney SANDRA M. SCHRAIBMAN Ass’t Branch Dir., Dep’t of Justice, Civil Division Case 2:09-cv-13616-AJT-MKM Document 164 Filed 12/20/10 Page 2 of 55 s/ David M. Glass DAVID M. GLASS, DC Bar 544549 Sr. Trial Counsel, Dep’t of Justice, Civil Division 20 Mass. Ave., N.W., Room 7200 Washington, D.C. 20530 Tel: (202) 514-4469/Fax: (202) 616-8470 E-mail: [email protected] Attorneys for Defendants U.S. Department of the Treasury, Presidential Task Force on the Auto Industry, Timothy F.
    [Show full text]
  • TARP Assistance for Chrysler: Restructuring and Repayment Issues
    TARP Assistance for Chrysler: Restructuring and Repayment Issues Baird Webel Specialist in Financial Economics Bill Canis Specialist in Industrial Organization and Business September 7, 2012 Congressional Research Service 7-5700 www.crs.gov R41940 CRS Report for Congress Prepared for Members and Committees of Congress TARP Assistance for Chrysler: Restructuring and Repayment Issues Summary The recent recession and accompanying credit crisis posed severe challenges for all automakers, but especially for General Motors and Chrysler. Executives of both companies testified before congressional committees in the fall of 2008 requesting federal bridge loans. Legislation that would have provided such financial assistance passed the House of Representatives but did not pass the Senate. In lieu of that assistance, the Bush Administration turned to the Troubled Asset Relief Program (TARP), a $700 billion program that was enacted in October 2008 to shore up the financial system and prevent spillover to the broader economy. The Bush Administration used TARP to provide both automakers and two auto financing companies with nearly $25 billion in loans, and told the automakers to submit viability plans if they were to seek additional aid. Chrysler submitted such a plan in February 2009, outlining how it planned to restructure its operations, including a strategic alliance with Fiat. Some questions were raised as to whether Chrysler could survive as a free-standing company, even with government assistance, because of its relatively small size. The Obama Administration rejected Chrysler’s initial viability plan as insufficient and gave the company 30 days to develop a new plan in an effort to avert bankruptcy. Working with the Administration’s Auto Task Force, Chrysler developed a restructuring plan that included a revised labor agreement, cost reductions from dealers and suppliers, reductions in creditor claims, and limitations on executive compensation.
    [Show full text]
  • Detroit's Municipal Bankruptcy and the Case of Austerity Urbanism
    Detroit’s Municipal Bankruptcy and the Case of Austerity Urbanism by Sarah Phinney A thesis submitted to the Faculty of Graduate and Postdoctoral Affairs in partial fulfillment of the requirements for the degree of Master of Arts in Political Economy Carleton University Ottawa, Ontario © 2016, Sarah Phinney i ABSTRACT Urban theorist Jamie Peck theorizes austerity urbanism as a dominant state practice of financially “restructuring” the fiscal agendas of local governments in order to reduce government budget deficits in times of economic recessions. This thesis examines how austerity urbanism as a theoretical lens can be used to describe urban transformations in the City of Detroit. My central argument is that Detroit, specifically following its municipal bankruptcy, is experiencing an austerity moment as a result of the United States’ shift towards neoliberalism that dismantled Keynesian principles and compelled the federal and state government to withdraw their presence in fiscal aid transfers to local governments. This era created a reinvigorated neoliberal politics of austerity in the City of Detroit that is based on balancing state budgets and favouring cuts in government expenditure. ii ACKNOWLEDGEMENTS I would like to first give a sincere thanks to my supervisor, Dr. Jennifer Ridgley, for her enormous patience and guidance. I would also like to express my gratitude to my friends and colleagues in the Political Economy program, especially those whom I learned and grew with over the course of the last two years. I would like to thank my grandparents, and two sisters, Kristen and Ashley, for always supporting me in life. I would also like to offer a very warm thanks to my father and mother whose support was influential in helping me complete and pursue my research.
    [Show full text]
  • Administration of Barack H. Obama, 2009 Remarks at the AFL–CIO
    Administration of Barack H. Obama, 2009 Remarks at the AFL–CIO National Convention in Pittsburgh, Pennsylvania September 15, 2009 The President. Thank you. Thank you, AFL–CIO. Thank you. Thank you very much. Please, everybody, have a seat. Thank you. Thank you, guys. Thank you very much, everybody. All right, you guys are making me blush. Thank you. Audience members. Obama! Obama! Obama! The President. Thank you so much, everybody. You know, I tell you what, the White House is pretty nice, but there's nothing like being back in the House of Labor. Let me begin by recognizing a man who came to Washington to fight for the working men and women of Pennsylvania and who has a distinguished record of doing just that, Arlen Specter. I want to give my thanks and the thanks of our Nation to one of the great labor leaders of our time, a man whose entire life has been devoted to working people, who brought new life to a movement, and who worked tirelessly on behalf of organized workers, and who will be stepping down tomorrow, your president, John Sweeney. John, I know that Maureen is looking forward to seeing a little more of you, and your granddaughter Kennedy is about to get a whole lot more spoiled by her grandpa. But we are so proud of the work that you've done and grateful for your lifetime of service. I know it's bad luck to congratulate somebody before they're officially elected, but I'm going to go ahead and take my chances and congratulate the man who will pick up John's mantle, the son and grandson of Pennsylvania coal miners, a man who worked his way through college to lead the United Mine Workers, my friend, a fiery advocate for America's ideals, Rich Trumka.
    [Show full text]
  • Unions Grasp for Influence Over Private Equity by Ivan Osorio
    Unions Grasp For Influence Over Private Equity By Ivan Osorio Summary: When private equity firms unions are able to pressure companies by Enron and WorldCom scandals, has buy up companies they expect to avoid having the funds offer shareholder reso- sparked an unanticipated response from shareholder pressure campaigns—espe- lutions at corporate annual meetings. More some companies. To avoid burdensome cially those devised by labor unions. Or and more companies find themselves un- government regulation, they are deciding so they hope. der the gun, dealing with aggressive not to list their shares on American stock union-sponsored shareholder resolutions. exchanges—a trend that is leading to more ention the names of certain However, the enactment of the 2002 stock listings in overseas financial cen- large corporations, and many Sarbanes-Oxley Act, in the wake of the ters like London and Hong Kong. In some M people start to think bad things. ExxonMobil reaps “windfall profits” as it “gouges” drivers with high gas prices. Wal-Mart “destroys” city downtowns by ‘Corporate Campaigns’ Target Private Firms “undercutting” mom-and-pop shops. Sound familiar? That’s precisely how An Interview With Jarol Manheim organized labor and their allies want it. These companies have been targets of Labor Watch author Ivan Osorio “corporate campaigns”—public relations interviewed Jarol Manheim, Profes- onslaughts designed to damage a sor of Media and Public Affairs and company’s reputation. of Political Science at the George When planning corporate campaigns, Washington University. Professor unions and activist groups research their Manheim is the author of The Death target and identify its weaknesses.
    [Show full text]
  • At the Wheel with a Fragile Plan to Save Chrysler in Hand, Corinne Ball and a Jones Day Team Had Six Weeks to Win Bankruptcy Court Approval
    americanlawyer.com SEPTEMBER 2009 AT THE WHEEL With a fragile plan to save Chrysler in hand, Corinne Ball and a Jones Day team had six weeks to win bankruptcy court approval. It was lawyering at the speed of Daytona. During Chrysler’s 42-day journey through bankruptcy court, Jones Day’s Corinne Ball was at the wheel—with the government playing backseat driver. DRIVE-THROUGH BANKRUPTCY BY VIVIA CHEN ON MAY 1, AFTER DELIVERING THE OPENING STATEMENT for Chrysler LLC in one of the most highly anticipated bankruptcy cases in history, Jones Day partner Corinne Ball dashed out of federal court in lower Manhattan to return to her midtown office. Instead of taking one of the black town cars waiting by the courthouse, she headed for the subway. A flock of photographers followed, snapping images of the restructuring doyenne in an orange St. John’s knit suit as she charged through the City Hall station. Ball’s choice of transportation and attire was no accident. “I’m very conscious that I’m a bank- ruptcy lawyer,” she says a few weeks later. “You didn’t think I was going to fly there in my private jet, did you?” Ball asks—an allusion to the scolding that the Detroit auto executives got last year when they took corporate jets to Washington, D.C., to ask Congress for aid. As for that Fanta- hued outfit, she says, “Color is good for rescue—it’s a good occasion, not a funeral.” The lead bankruptcy lawyer for Chrysler, Ball became the public face of the lawyering behind the company’s whirlwind 42-day foray into bankruptcy and subsequent rebirth as a Fiat SpA ally (the Italian automaker now runs Chrysler).
    [Show full text]
  • Annual Report of the White House Task Force on the Middle Class
    ANNUAL REPORT OF THE WHITE HOUSE TASK FORCE ON THE MIDDLE CLASS F E BR UA R Y 2 0 10 Table of Contents Executive Summary iii I Introduction 1 The State of the American Middle Class 3 What Does It Mean To Be Middle Class? 10 II Protecting Workers and Creating Middle-Class Jobs 13 Supporting the Manufacturing Sector 13 Green Jobs 16 Project Labor Agreements and Other Executive Orders 20 Enforcing Labor Standards and Preventing Misclassification 21 Responsible Federal Contracting 23 National Equal Pay Enforcement Task Force 23 Employee Free Choice Act 23 III Retirement Security 25 Establishing Automatic IRAs 25 Simplifying and Expanding the Saver’s Credit 26 Updating 401(k) Regulations to Improve Transparency and Reliability 27 Administrative Actions to Improve Retirement Security 27 Another Option: Safe Investment Choices 28 IV Balancing Work and Family Responsibilities 29 Child Care 29 Supporting Family Caregivers 31 More Flexible Workplaces 33 An Administration-Wide Commitment 34 V Pathways to the Middle Class 35 Making Higher Education Affordable and Accessible 35 Connecting Workers to Career Ladders 42 VI Conclusion 43 Mr President, I’m proud to present you with the annual report of the White House Task Force on the Middle Class Shortly after we took office, you gave me the honor of chairing this Task Force, noting that “the strength of our economy can be measured by the strength of our middle class ” Since that day, that simple yet powerful equation—a strong middle class equals a strong economy—has guided our work We report on those
    [Show full text]
  • President Fredric V. Rolando
    PRESIDENT FREDRIC V. ROLANDO 2012 — 2014 BIENNIAL REPORT NALC 125 YEARS OF SERVICE, SOLIDARITY AND This report is hereby submitted to the offi cers and delegates to the 69th Biennial Convention of the National Association of PROGRESS Letter Carriers, AFL-CIO, Philadelphia, PA, July 21-25, 2014, pursuant to Article 9, Sec- tion 1(k) of the Constitution of the National Association of Letter Carriers. Detailed information pertaining to many of the National Association of Letter Carriers’ most important activities can be found in OF LETTER CARRIERS ASSOCIATION NATIONAL the following pages and in the reports of my fellow offi cers. I am grateful for their efforts in fulfi lling their responsibilities with dili- gence and competence. My role has been to coordinate and supervise their activities, set an overall direction for this great union and, in a number of key areas, provide di- rect, active and assertive leadership in the best interests of the members of the NALC and, where appropriate, the U.S. Postal Ser- vice as well. President Fredric V. Rolando July 2014 | The Postal Record 9 EW PRIVATE INSTITUTIONS Unemployment stood at 9.5 percent Public-sector workers across the coun- get to celebrate their quas- (50 percent higher than today), and the try were under assault by similarly anti- quicentennial—their 125th USPS had recorded the biggest losses labor politicians, who targeted public anniversary. That is especially in its history—and not just because of employee pay, benefi ts and bargaining true of labor unions. The world the pre-funding mandate that we’ve rights to close budget defi cits caused Fof work changes so dramatically from been battling since 2006.
    [Show full text]