April 21, 2006

 

S&P REGULATORY AFFAIRS OFFICIALS 

AT NEGOTIATIONS 

DON’T HELP SETTLE DISPUTE

 

           Standard & Poor’s Regulatory Affairs officials Rita Bolger and Irene Greenberg, who were instrumental in writing the controversial Personal Securities Trading System (PSTS) which has been the major stumbling block in reaching a contract settlement, sat in on negotiations at Guild headquarters this week.

 

When they concluded Wednesday, however, Bolger and Greenberg hadn’t convinced union negotiators of the need for a 45-day hold on stocks before they can be sold for a profit, and the Guild hadn’t convinced the company to alter that demand in any way.

 

As we have reported in the past, there has been some movement in the company’s PSTS proposal that has brought the parties closer to an agreement, but the “hold” remains a major source of contention.

 

The committees have set another meeting for Friday, April 28, to adjust the policy’s language to reflect the tentative agreements. 

 

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04.21.06