Tough Contract Talks Produce Tentative Pact at Dow Jones

Employees at Dow Jones & Company have a tentative contract after 10 months of tough negotiations that were further complicated this summer when Dow Jones was sold to News Corporation, owned by Rupert Murdoch.

The board of the Independent Association of Publishers' Employees Local 1096, a unit of The Newspaper Guild-CWA, recommended approval of the settlement; plans for membership ratification are underway.

If ratified, the three-year contract provides for annual 3 percent wage increases plus a cost of living adjustment that will take effect when inflation hits 3.25 percent. Increases will be retroactive to January 2007, when the previous contract expired.

The IAPE bargaining team retained the full 401k plan and Money Retirement Plan, a guaranteed schedule of severance pay, all rights to grievance and arbitration, seniority, due process in discipline and due cause protections in dismissals, said Local President Steven Yount.

The contract adds a new wellness/disease management program and expands coverage for physical exams and immunizations for employees and family members. Some health care costs will increase, including some premiums and costs for certain in-network services.

Yount called the settlement a testament to the incredible hard work of the IAPE bargaining team and the resolve of countless IAPE members across the country.

 "Obviously, this contract is not everything that we wanted -- and the board believes it is short of the quality contract" that members deserve. "But the board also believes -- at this time, under these conditions -- this is the best package available," Yount said.

The $5 billion deal to sell Dow Jones, including its flagship publication the Wall Street Journal to Murdoch's News Corporation is expected to be finalized in November. IAPE-CWA represents about 2,000 reporters, photographers, editors and other employees at Dow Jones operations.