NYC Gives 8% Raise to Municipal Union

At the height of a so-called "financial meltdown" when New York City depends for 20% of its tax revenue on Wall Street, Sharad Karkhanis sent me Kathleen Lucadamo's and Lis Colangleo's Daily News article:

"Members the city's largest municipal union will receive more than 8% in salary increases as part of a new two-year contract, the Daily News has learned."

Other city unions such as the correction officers, will also receive 8% through 2011.