May 14, 2001 

             Our membership last week voted overwhelmingly to ratify a new 51-month contract with Standard & Poor’s that gives us 16.4% increases over its term.  

            The vote in a packed auditorium on the 13th floor at 55 Water Street was 290 in favor and 13 opposed, while another 10 votes were cast in favor on President Street in Brooklyn, making it a round 300.  There was one dissenting vote on President Street so the final tally was 300 in favor and 14 against.  

            The first increase, a 4.25% wage hike, is expected to be seen in Thursday’s paychecks.  The increase is retroactive to January 1.  Those checks are expected in two to three weeks. 

            New York Newspaper Guild President Barry Lipton, who came into the negotiations in the final session to wrap them up, said he commends and congratulates S&P’s membership for their outstanding support throughout the bargaining right up to and through the ratification meeting. 

            Local Representative Bob Townsend was the lead negotiator. Unit Chairperson Ed Fannon headed the Negotiating Committee, which also included Marilyn Bissell of Cash Systems, Leo Larkin of the Analytical Department, Peter Burke of Ratings Information Services, Brian McGuire of Facilities and Services Management, John Matis of Data Operations, Caheim Murray of Mail Services and Dorothy Madison of Subscriber Services – Circulation Fulfillment. 

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