Originally from Dispute Resolution Journal

Cost savings is essential in these hard economic times for both labor and management. The labormanagement community has historically used arbitration in lieu of litigation to save money. This article explains how additional cost savings can be achieved by using administered rather than self-administered arbitration.

The current economic crisis in this country has required many industries to rethink their objectives and how to accomplish them. This crisis has dramatically affected working people as hundreds of thousands of jobs have disappeared in recent months. The country’s economic woes began with the subprime mortgage crisis. That led to the collapse of some historic U.S. investment banks, threats to the survival of some major commercial banks, the credit crisis, and a stock market that lost millions of dollars in capital.