Amendment101st Congress
Amendment provided that the Secretary of Transportation, in determining whether to approve or disapprove the acquisition of voting securities in a leveraged buyout, should also consider whether the buyout would result in a major reduction in wages, benefits, or number of air carrier employees which was not agreed to by the employees and was required primarily as a result of the added cost arising out of the acquisition.
- Amendment Number
- 296
- Description
- Amendment provided that the Secretary of Transportation, in determining whether to approve or disapprove the acquisition of voting securities in a leveraged buyout, should also consider whether the buyout would result in a major reduction in wages, benefits, or number of air carrier employees which was not agreed to by the employees and was required primarily as a result of the added cost arising out of the acquisition.
- Purpose
- An amendment to add to the list of criteria that the Transportation Department must consider in determining whether proposed stock acquisitions should be disapproved by requiring that the effects that such an acquisition would have on the wages, benefits, or number of airline employees be taken into consideration.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- Nov 1, 1989
- Latest Action Text
- On agreeing to the DeFazio amendment (A002) Agreed to by recorded vote: 271 - 147 (Roll no. 325).
- Latest Action Time
- 15:43:53
- Submitted Date
- Nov 1, 1989
- Chamber
- House of Representatives
- Update Date
- Jul 1, 2021