WSFA 12 News Montgomery, AL |Ala. Settlement money proposed for employees
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Associated Press - November 10, 2009 8:34 AM ET
BIRMINGHAM, Ala. (AP) - Alabama's most populous county wants to use part of a $50 million settlement from its bond dealer to restore 40-hour work weeks for employees.
Most hourly workers have been on a 32-hour work week since August, when the county effectively ran out of money.
JPMorgan Chase & Co agreed last week to pay $75 million in fines to settle federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Alabama.
JPMorgan is expected to wire the $50 million to the county on Tuesday when the full county commission is set to consider the proposal.
Information from: The Birmingham News, http://www.al.com/birminghamnews
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