OTHER NEWS - June 24, 1992
From Times Staff and Wire Reports
LTV Steelworkers Threaten a Strike: The United Steelworkers of America says its members will strike if a bankruptcy judge grants LTV Corp.’s request to void their labor agreement. LTV needs to resolve steel labor costs in order to wrap up a six-year, $6-billion Chapter 11 reorganization. In addition to resolving the labor costs issue, LTV must sell its aerospace and defense unit to end its reorganization. The company invoked a part of the bankruptcy code that allows a judge to reject a labor agreement already in force if negotiations fail to produce a compromise. The steelworkers contract will expire Aug. 1, 1993, or the day the company emerges from Chapter 11, whichever comes first. The USWA represents 12,500 LTV workers.
