Three employees who say they fear losing their jobs at the Boeing Co.’s North Charleston plant were allowed Monday to have limited roles in a federal labor dispute over the company’s 787 passenger jet line. The National Labor Relations Board has decided to allow the employees to file a brief in the case once an NLRB hearing in the case is completed, according to the National Right to Work Legal Defense Foundation, which is helping the employees with their legal case. In April, the NLRB filed a suit against Boeing, claiming the Chicago-based manufacturer located a new 787 passenger aircraft assembly line in South Carolina — a right-to-work state — to retaliate against Washington state union workers who went on strike in 2008.
Canada works to end its postal lockout
The Canadian government has introduced back-to-work legislation to end the Canada Post lockout. Urban postal operations were suspended countrywide last Wednesday after nearly two weeks of rotating strikes by the union. The two sides made no progress in their talks over the weekend. Federal Labor Minister Lisa Raitt informed Parliament on Monday that negotiations have resumed, but said they had ample time to already work out a deal. Members of the Canadian Union of Postal Workers say their employer lost the will to negotiate when the government announced last week it would force them back to work.
Union Bank opens Manhattan branch
Union Bank, which purchased Everett-based Frontier Bank, is opening its first commercial branch in New York City as part of a strategic expansion. The new Manhattan branch follows an earlier expansion into Texas in 2009. “New York is the financial capital of the United States, the headquarters for many U.S. and multi-national companies, and the home to many of our clients,” said Union’s JoAnn Bourne. “It’s imperative that we conduct business in closer proximity to our clients and develop new relationships with companies conducting business overseas.” Union Bank’s corporate parent in San Francisco is a subsidiary of The Bank of Tokyo-Mitsubishi.
T-bill rates fall in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.035 percent, down from 0.05 percent last week. Six-month bills were auctioned at a discount rate of 0.1 percent, down from 0.105 percent last week. For a $10,000 bill, the three-month price was $9,999.11 while the six-month bill sold for $9,994.94. That would equal an annualized rate of 0.036 percent for the three-month bills and 0.102 percent for the six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, was unchanged last week at 0.18 percent, the same as the previous week.
From Herald news services
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