BUSINESS BRIEFS: Pay cut vote extended

 
No Author Published: December 30, 2008    Comment on this article Leave a comment

NATION

Pay cut vote extended
NEW YORK — The deadline for a vote to lock in an immediate 10 percent pay cut and other contract modifications for union workers at YRC Worldwide Inc., one of the nation’s largest trucking companies, has been extended by a week, the company said Monday.

Ballots were to be counted by today, but the company said it pushed the deadline to Jan. 6 because of several factors.

Investor sells Ford stock
DETROIT — Billionaire investor Kirk Kerkorian has sold his remaining shares in Ford Motor Co., according to a spokeswoman for his investment company Tracinda Corp. Kerkorian’s jettisoning of Ford comes just six months after Tracinda boosted its stake in the Dearborn, Mich.-based automaker to 6.49 percent.

Wetland case reaches deal
DETROIT— An agreement has been reached in a dispute over wetlands and development in a Michigan case that went all the way to the U.S. Supreme Court. Developer John Rapanos and other defendants agreed Monday to pay a $150,000 penalty. The deal also requires him to create wetlands and buffer areas to make up for areas that were filled in. Rapanos was accused of filling in wetlands in mid-Michigan to build homes and a shopping center.

Northwest delays plans
ATLANTANorthwest Airlines, because of poor market conditions in light of the weakened global economy, is the latest carrier seeking to delay or cut back long-coveted U.

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