Lynn's GE workers looking out for retirees in contract talks

With their contract due to expire at midnight tonight, union workers at General Electric's aircraft engine plant in Lynn hope a new labor pact comes with an affordable healthcare plan for their retired colleagues.

Although negotiators at the table in New York can't officially bargain for retirees, they have included their concerns about rising healthcare costs in a general discussion about benefits, a local union leader said.

"It really comes down to fairness," said Jeff Crosby, president of IUE-CWA Local 201, the largest labor union at GE's plant in Lynn, representing 2,300 hourly workers. "Our retirees worked long and hard for GE, and they deserve affordable healthcare."

He did not say how much GE is seeking to increase healthcare premiums. "We've heard they want to double them," Crosby said.

On average, single GE workers pay $700 to $800 per year toward health insurance, while family coverage costs $1,500 to $2,000. Retirees under age 65 pay the same rates, while older retirees pay $197 per month, according to the union.

Local 201 last week invited the Massachusetts Workers' Rights Board, a panel of labor advocates from across the state, to Lynn to listen to current and former GE workers. Citing rising prescription drug costs for retirees and out-of-pocket costs for workers, they called on GE to increase the company's share of healthcare expenses.

"We think GE can afford it," said Alex Brown, vice president of Local 201.

GE is negotiating four-year contracts with 11 separate unions across the country. Talks started last month, and could continue beyond tonight if a tentative agreement is not reached, an official said.

"The goal is to negotiate a fair deal that continues to provide all our employees better wages and benefits, while keeping our businesses successful," said Rich Gorham, a GE spokesman in Lynn. "We believe we offer a good package overall."

Any tentative agreement would be presented to the union locals over the next several weeks before a national vote is held.

Fidelity opening Danvers branch

Fidelity Investments is opening a new investor center in Danvers, at the former site of the Red Sauce restaurant on Endicott Street across from Liberty Tree Mall.

The center, scheduled to open on July 30, is Fidelity's first retail shop on the North Shore. The Boston-based mutual fund company has seven branch offices in Massachusetts, the closest in Burlington.

"A lot of thought and research goes into siting our branches," said Mike Shamrell, a spokesman for Fidelity. "We have a really large customer base on the North Shore. That's one reason why we chose to open there."

He declined to disclose Fidelity's local customer count, but noted "It's a pretty broad spectrum."

Fidelity was drawn to Endicott Street for the same reason as other national chains: proximity to routes 114 and 128. "It's got easy access to major roadways. It's a good spot for a branch," Shamrell said.

Though best known internationally for its mutual funds, with $1.2 billion in assets at the end of 2006, Fidelity provides other financial services, including stock trading, retirement savings, and financial planning for individuals and businesses.

Its 6,900-square-foot office in Danvers will have all the bells and whistles. An automated deposit machine, or ADM, will allow customers to make deposits into mutual funds, IRAs, 401k accounts, and other investment products. Customers also will be able to access information from two trading kiosks. Flat-screen televisions will be tuned into market updates, Shamrell said.

"It will be very similar to our other branches, which offer a lot of the features and functions we know our customers expect," Shamrell said.

Help for those seeking grants

A new grant center at the Haverhill Chamber of Commerce aims to help nonprofit groups and small businesses, with 20 or fewer employees, identify potential sources of funds for economic development, job training, and other needs.

"Nonprofits and small businesses usually have small staffs," said Julie Ward, director of the center. "They don't have the time, or the resources, to identify the grants they might qualify for. We're here to help them."

Ward was preparing to send out a newsletter Friday to the chamber's Nonprofit Consortium, a group of 60 organizations focused on homelessness, youth services, workforce development, and other issues in the Merrimack Valley. The letter will list local, state, and federal sources of funding, she said.

"There's a lot of opportunities for grants," said Ward, a former public health instructor at the University of New Hampshire. "We hope to be able to help them identify them, and help them write applications."

The center is funded with a $20,000 grant from the state Office of Business Development. The funding is enough to keep the center open until August, but Ward hopes to obtain other funding to keep it going.

"We think this is a valuable service," she said.

Kathy McCabe can be reached at kmccabe@globe.com.