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AP advances economic offer

The Associated Press advanced an economic offer Tuesday that’s contingent on union members agreeing to the company’s proposal to freeze the pension plan and reaching a contract agreement by Dec. 15.

The company offered a 2 percent wage increase effective Dec. 1, along with a lump sum payment of $500 and another lump sum payment of $500 on July 1, 2011. The $1,000 payments would go only to active employees and not those on inactive status. Continue reading