`SKUNK WORKS' PACT OK'D, STRIKE AVERTED.Byline: Bhavna Mistry Daily News Staff Writer Members of the union representing Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. ``Skunk skunk, name for several related New World mammals of the weasel family, characterized by their conspicuous black and white markings and use of a strong, highly offensive odor for defense. Works'' employees have accepted a new three-year contract, union officials said Sunday. In balloting late Saturday night, 224 union members were against the contract but 787 voted to accept it and avert the strike which was proposed to begin Wednesday, union officials said. ``The contract was ratified rat·i·fy tr.v. rat·i·fied, rat·i·fy·ing, rat·i·fies To approve and give formal sanction to; confirm. See Synonyms at approve. , but this in no way means that the membership is satisfied with the offer,'' said Dick Floyd, a union official, on a taped hot line. Members of he union - Local 727P of the International Association of Machinists and Aerospace Workers The International Association of Machinists and Aerospace Workers is an AFL-CIO/CLC trade union representing approx. 646,933 workers as of 2006 in more than 200 industries. - had rejected a similar proposal in March and proposed to go on strike until a federal mediator mediator n. a person who conducts mediation. A mediator is usually a lawyer, or retired judge, but can be a non-attorney specialist in the subject matter (like child custody) who tries to bring people and their disputes to early resolution through a conference. was called to assist with negotiations. ``It wasn't anything but a little bit more than was originally proposed,'' said Paul Best, an aircraft inspector, who voted to reject the new proposal. ``I didn't accept it then, I wasn't going to accept it now.'' In the new contract, employees will keep one of two holidays cut in the March proposal, get a cost-of-living allowance Noun 1. cost-of-living allowance - an allowance for changes in the consumer price index allowance, adjustment - an amount added or deducted on the basis of qualifying circumstances; "an allowance for profit" paid at the beginning of the second and third years of the pact, instead of having to wait on a quarterly basis, and get 29 cents a mile rather than 25 cents a mile for auto travel. The contract retains the pay and pension provisions that union members rejected in March, when 67 percent of those who voted were opposed. ``We've gone nine years without a pay raise; now this will put us at 12 years with no raise,'' Best said. |
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