Master Lock Company and the United Auto Workers Local 469 Union will be entering mediation to negotiate a new contract between the company and its approximate 350 employees who are represented by the union.  Both sides are optimistic that mediation will help resolve some of the issues between them.  However, Mike Bink, president of United Auto Workers Local 469, reiterated that the employees are currently working without a contract and that "Our membership wasn't very pleased with the company's last offer, so they voted it down overwhelmingly.” 

Still hoping to resolve the contract dispute, the union is hoping that a neutral, third-party mediator will be the answer to settling the negotiations in a way that is favorable to both parties.  Most have stated that they are treated well by the company, and President Barack Obama even stated that Master Lock Company was an example of a company that employed American workers and made sure they were well compensated. 

While the mediation process is nonbinding, both sides hope that it will be the answer for them.  Bob Rice, Master Lock's senior vice president of global supply chain sourcing and procurement, submitted a written statement that said, “As in prior negotiations, we are working through the process of securing a new multiyear contract with our local UAW 469. This is understandably an important decision for the union."

One of the issues of concern to the union and the employees of Master Lock it represents is the potential for eliminating retiree benefits.  However, Rice stated that the company has always maintained a good relationship with its employees and the union representing them, and assures both workers and the public that the company will do everything within its power to ensure that the employees are happy with the contract negotiations and settlement reached through mediation.