The protests stem in part from two financial deals that the city entered into before the economic crash. The rate swap was designed to take advantage of what were at the time historically low interest rates. But rates dropped even lower when the economy crashed. That left the city paying more than the market rate, while the banks paid variable rates that were kept low by the Federal Reserve. A City Council committee moved Monday to get out of the contracts, saying the deals had soured after the crash.

However, city finance officials have reported the deals are saving some money, if not as much as the city had expected.

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Thank you for taking the time to write in, call in and otherwise voice your support as we continue to bargain our first-ever union contract. We were overwhelmed by the flood of kind, supportive, positive messages. These kinds of negotiations can take a while, particularly for a first contract, which sets the foundation for everything we will work toward in the future.

Your support went a long way toward boosting morale and determination among the journalists of The Times we enter our 14th month at the bargaining table. Thank you. The truly phenomenal reporting from the L. Times welcomed me and informed me, and for that I'm a proud subscriber. Times Guild fought to save their paper. Times this year because of their outstanding journalists AND because of the L. Times subscriber.

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Thank you to all the writers and staff of the L. Times Guild who make my hometown paper great. Times subscription well We need these smart writers putting their words in the world. Times because it helps me understand my city and state better than any other media. I love the L. Times Guild because it ensures good wages that hard-working reporters deserve. Quality begets quality.

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Thanks for investing in my favorite newspaper, DrPatSoonShiong! Times — there is no better newspaper , and their work on California immigration as a microcosm of the national conversation has been unmatched by any other media outlet. Times Guild got recognized. So proud of the way the Times has turned around. Please provide the contract they so richly deserve.

This moment in time requires deep reporting. Let these pros focus on their duty to inform the public. We need the L. We support the L. Fair contract so they can focus on research and writing. As the son of a newspaper reporter and union rep, I know the importance and power of guild representation in a workplace. I support the L.

Times got me into journalism. Great to see the L. Times Guild fighting for the rights that the staff has long deserved. Times subscriber, and a proud union guy. I appreciate Dr. Patrick Soon-Shiong investing in the Times, and I urge him to strike a fair deal with the phenomenal journalists who make the Times the world-class paper it is. The resilient and dedicated journalist… deserve a fair contract for so many reasons. Deeply appreciative of our amazing L. Times journos.

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Always grateful for the hardworking reporters in the L. Times Guild who are creating the paper L.

Since the journalists of The Times began negotiating our first-ever union contract more than a year ago, many of you have asked what you can do to support us. Today, the L. Times Guild is launching a campaign that gives a voice to readers, so you can explain why you care about The Times and support a fair contract for our journalists. Write a digital postcard , perfect for keeping it short and sweet.

Send us a letter if you have more to share. If you have space in your messages, please let our new owner, Dr. Patrick Soon-Shiong, know that you support a fair contract that ensures job security and a better quality of life for our journalists — and be sure to thank him for investing in the future of The Times. Your stories will help push our first-ever contract over the finish line. We plan to share some of them on our website and social media accounts, and with the leadership of The Times. Thank you for your support.

When the story of our revival is told decades from now, our return to local ownership will be remembered as the turning point. As media outlets across the country teetered on the edge of collapse, we worried we would lose our jobs and Los Angeles would lose its paper of record. What a difference a year makes. Thanks to your investment, the determination and loyalty of our staff, and the L. Three of our journalists won the Pulitzer Prize for investigative reporting, the 45th in our history.

We have more time and resources to cover the issues that matter to our readers, at home, in Washington, across the nation and around the world. Your support has given us a fighting chance to build a sustainable business. The feeling in the newsroom is not just one of hope, but of ambition. We want to resolve the negotiations so we can focus on what we do best: great journalism. Given the history in our industry and our own newsroom of outsourcing work to contractors and freelancers, we are asking for reasonable guardrails to protect our journalists and our work. Your commitment to keeping The Times in your family for the next century was welcome news for a community that wanted a return to local ownership after two decades of executive turnover and lack of investment.

If we do face layoffs, we want to ensure that severance is competitive for journalists who have dedicated their professional lives to The Times or have moved their families across the country to be a part of our next chapter. Thank you for your commitment to our future, and the future of journalism. The formal agenda will include:. Discussion of our proposed bylaws.

Members will have an opportunity to ask questions and propose amendments. The establishment of an interim election committee to oversee the ratification of our bylaws and, later, the election of officers in our new Local. We will need several volunteers to serve on this committee, who will be selected by the members in attendance at the meeting. To ensure fairness in the process, the election committee cannot include current officers or members of the bylaws committee.

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Governance Structure: Under these bylaws, our Local would start its operations with an Executive Committee that has four titled officers president, vice president, treasurer, secretary and five at-large members. The Executive Committee would be set up in a way that allows new unions to join our Local if, say, other newsrooms in Los Angeles were to unionize like we did.

Election timetable: Under the proposal, elections for officers and other matters would be held every two years. Public conduct: The draft includes language that would forbid our Local from endorsing candidates for public office.

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The newsroom has been bargaining in good faith with management on a first contract for months. But late in negotiations, the company has proposed a draconian policy on books and other creative projects that, as a condition of employment, would go far beyond the work-for-hire standards of U. If we have a book idea related to our work, even if fictional, the company wants unfettered power to claim control over whether it gets written, who owns the copyright and what we might get paid for it.

The company also wants to claim the film rights to such books even if the company grants permission for the book to be written, on unpaid leave, for an outside publisher. This is especially inappropriate, coming as it does from the Los Angeles Times, which runs the highly popular L. Times Festival of Books and has a proud history of employing journalists who have made significant contributions to the literary community.

But under the company's proposal, these types of projects could fall within its control — and, most disturbingly, within its power to reject wholesale. The Times should encourage its employees to be ambitious, not empower lawyers to squat on copyrights.