WSFA 12 News Montgomery, AL |Ala. settlement money used for employees
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Associated Press - November 10, 2009 5:14 PM ET
BIRMINGHAM, Ala. (AP) - Alabama's most populous county is going to use part of a $50 million settlement from its bond dealer to restore 40-hour work weeks for employees.
Most hourly workers for Jefferson County have been on a 32-hour work week since August, when the county effectively ran out of money. The Jefferson County Commission voted Tuesday to restore all county employees to a normal work week.
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 paying $50 million to the county. Part of the money will be used for occupational tax refunds and a reserve fund.
Information from: The Birmingham News, http://www.al.com/birminghamnews
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