Arbitration

In these troubled economic times, it's not hard to understand why people might want to protect their life savings by purchasing a hard asset like gold or silver. At least, that's the pitch of Monex, the big Newport Beach investment firm, which bills itself as "America's trusted name in precious metals investments" and assures clients that it's "committed to customer service. " So let's take a look at the experiences of some customers who say their trust in Monex was misplaced.

NEW YORK - The legal fallout from Facebook Inc.'s botched initial public offering last year isn't over, although regulators approved the $62-million plan by Nasdaq OMX Group Inc. to repay brokerages that lost money in the debacle. The U.S. Securities and Exchange Commission's approval Monday does not stop the government or other parties from taking further legal action against Nasdaq for losses suffered in the Facebook IPO fiasco in May. Swiss banking giant UBS, for one, tallied its losses at $357 million and wants more money back than the settlement could offer.

If the horrific garment factory collapse last month in Bangladesh has any silver lining, it is the response from more than 30 of the world's leading apparel companies - including Benetton, PVH, Abercrombie & Fitch, H&M, Inditex (Zara), Marks & Spencer and Tesco - to sign an agreement to protect the safety and lives of that nation's workers, who make the companies' products. The Accord on Fire and Building Safety in Bangladesh is a historic advance over the voluntary private factory monitoring that has tragically failed to prevent the recent disasters in Bangladesh and in places around the world where clothes are stitched for the global market.

PHOENIX - In a story that ran in the Tuesday edition of The Times , I wrote about how the service time Yasiel Puig accrues this season could determine when he becomes a free agent. If he spends 20 or more days in the minor leagues, the Dodgers will be able to hold onto their prized Cuban outfielder for an extra year, because an extended stay in the minors makes him eligible for free agency after the 2019 season rather than the 2018 season. Less of an issue, but an issue nonetheless, is a clause in Puig's contract that allows him to opt out of the  seven-year, $42-million deal if he accrues enough service time.

The U.S. government was ordered Tuesday to pay the heirs of amateur filmmaker Abraham Zapruder $16 million for seizing one of the nation's most macabre artifacts--the 26-second film capturing President John F. Kennedy's final moments. An arbitration panel charged with determining the value of the film said that the figure might be on the low side.

I rarely agree with Harry Bernstein, but he was on the money in one portion of his Aug. 16 column ("Fire-at-Will Clauses Put Force of Law Behind Unfair Play") discussing arbitration as a way of resolving employer-employee disputes. Too many employers and employees think that arbitration is limited to the union sector. It need not be. An increasing number of non-union employers have arbitration agreements with their employees. They divert from the courtroom disputes that are better resolved by objective, experienced employment professionals.

Ryan Braun, the reigning National League MVP, won his appeal of a positive test for a performance-enhancing drug and had his 50-game suspension overturned by an arbitrator. MLB and the players' union announced the decision Thursday. Rob Manfred, MLB's vice president for labor relations, was incensed at the ruling, saying in a statement: "Major League Baseball considers the obligations of the Joint Drug Prevention and Treatment Program essential to the integrity of our game, our clubs and all of the players who take the field.

The Angels, as expected, offered arbitration on Tuesday to pitcher John Lackey and third baseman Chone Figgins, assuring them of maximum draft-pick compensation should the free agents sign elsewhere. But in something of a surprise, the team did not offer arbitration to veteran reliever Darren Oliver, the 39-year-old left-hander who was 5-1 with a 2.71 earned-run average in 63 games last season, when he earned $3.665 million. The Angels also did not offer arbitration to outfielder Vladimir Guerrero, so they will not receive a draft pick should the 35-year-old slugger depart after six years in Anaheim.

Two days before the start of their season, the New Orleans Saints have already notched a major victory. The suspensions of four players involved in the alleged bounty program have been lifted by a three-person arbitration panel, meaning the banned players are free to return. The ruling does not lift the suspensions of the coaches, so Saints Coach Sean Payton is still out for the year, linebackers coach Joe Vitt will sit out the first six games, and former defensive coordinator Gregg Williams is still banned indefinitely.

Mighty Ducks goalie Guy Hebert will go to arbitration, according to agent Dennis Cook. The arbitration hearing is scheduled for Monday. It will result in one-year deal. Cook said he made a counter proposal two weeks ago, but the Ducks have not improved on their most recent offer. Hebert, 30, is coming of his best season. He had a 2.67 goals-against average.

Fiona Henlon still relives the shock of the letter that arrived three years ago. Citing a breakdown in its payroll system, Los Angeles County health officials explained that they had mistakenly paid the registered nurse an extra $6,200 over a two-year period. And the government was demanding the money back. Henlon, 45, said she hadn't realized that she'd received the added money because she has no set schedule and her paychecks fluctuate. "It is unfair," she said. "They made an error, and we are going to suffer for it. " Henlon is one of roughly 600 relief nurses used to fill county hospital staffing gaps who officials now say must repay a total of $1.8 million.

The Angels avoided arbitration with reliever Kevin Jepsen on Tuesday, agreeing to terms with the hard-throwing right-hander on a $1.181-million deal for 2013 that includes an awards package. Jepsen, who rebounded from 2011 knee surgery to go 3-2 with a 3.02 earned-run average in 49 appearances last season, had asked for $1.4 million, and the team countered with $975,000, a fairly sizeable gap for a non-closing reliever in the first year of arbitration. But the sides settled right around the midway point, assuring that the Angels will avoid going to a hearing with any of their arbitration-eligible players.

The United States prepped for its opening game in the final round of World Cup qualifying with a dull 0-0 tie against Canada on Tuesday night in Houston as Galaxy defender Omar Gonzalez returned to the American national team lineup after a two-year absence. U.S. Coach Juergen Klinsmann changed all 11 starters from November's 2-2 tie at Russia and is likely to change the entire lineup again for the Feb. 6 qualifier against Honduras at San Pedro Sula. With Clint Dempsey, Jozy Altidore and the other regulars remaining with their clubs in Europe for weekend matches, the U.S. started an all-Major League Soccer lineup for the first time since January 2007 against Denmark.

Harmony. Gee, the Dodgers really love you.... Those arbitration cases can get so messy. A club having to argue against its own player. Best to be avoided. Best to be done with as soon as possible. Which is what the Dodgers did yet again Friday, coming to terms with their only two arbitration-eligible players, catcher A.J. Ellis and reliever Ronald Belisario. Both were what are called “super twos,” players with two years and at least 139 days of major-league service. The Dodgers agreed to one-year deals with both, Ellis signing for $2 million and Belisario for $1.45 million.

Reliever Rafael Soriano and the Washington Nationals reached agreement pending a physical on a $28-million, two-year contract that includes $14 million in deferred money, a person familiar with the negotiations told the Associated Press on Tuesday. Speaking to the AP on condition of anonymity because the deal was not yet official, the person said Soriano's contract contains a $14-million option for 2015 that would become guaranteed if he reaches 120 games finished over 2013 and 2014 combined.

The Angels avoided arbitration with pitcher Jerome Williams on Tuesday, agreeing to terms with the right-hander on a $2-million contract for 2013. Four other Angels -- pitchers Jason Vargas, Tommy Hanson and Kevin Jepsen and third baseman Alberto Callaspo -- filed for salary arbitration Tuesday and are set to exchange figures Friday. If the team and players can't come to terms, arbitration hearings are scheduled from Feb. 4-20. Williams, 31, went 6-8 with a 4.58 earned-run average in 32 games, 15 starts, last season, striking out 98 and walking 35 in 137 2/3 innings.

A Superior Court judge on Monday turned down a request by the Ventura County Deputy Sheriff's Assn. to take its unresolved labor dispute to a panel of arbitrators. The union, representing 750 sheriff's deputies, had asked Judge Henry J. Walsh to force county government leaders into arbitration after contract talks broke down. But Walsh agreed with the county's assertion that a state law allowing arbitration for public safety employees is unconstitutional.

The National Assn. of Securities Dealers has approved two proposed changes to the arbitration system used by investors who have a beef with their stockbrokers. As a result of the changes, punitive damage awards will be capped at $750,000, a concession to brokers, who opposed punitive damages. And investors whose cases are too old for arbitration are less likely to be blocked by brokers from going to court.

If you're an EBay user, heads up: The big dog of online auctions says it will take away your right to join class-action lawsuits unless you send in a letter challenging the move. EBay also is serving notice that the company and its affiliates reserve the right to track you down any way they please, "even if you incur charges for receiving such communications. " Taken together, the latest changes to EBay's user agreement suggest the company is taking a harder line with its more than 100 million buyers and sellers.

International cycling's governing body is not planning to challenge the decision to strip Lance Armstrong of his seven Tour de France titles, the organization's president said on Friday. While Pat McQuaid said the UCI will not stand in the way of stripping Armstrong of his victories, he did mention that the U.S. Anti-Doping Agency has yet to turn over its files on the Armstrong investigation that led to the penalties and that his governing body could go to the Court of Arbitration to remove the imposed lifetime ban if there was "serious reason" to do so. "It does seem slightly unusual," McQuaid told Associated Press reporters of the delay in receiving USADA's file.