sweetheart contract


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Related to sweetheart contract: Sweetheart deals

sweetheart contract

A contract entered into by related parties who do not negotiate aggressively for the best terms and conditions and which usually has the effect of costing a third party more money than would otherwise be necessary under the circumstances.At one time it was common for developers to retain title to recreational amenities in a subdivision or condo project and charge high rents for their usage.This has largely been regulated out of existence,but such sweetheart contracts always seems to arise in some other guise.

References in periodicals archive ?
But to talk now of helping Washingtons poor as often summons memories of Barry's sweetheart contracts and employment programs that produced few jobs.
When we expand the definition of social welfare to include the billions siphoned off routinely in sweetheart contracts, pork-barrel projects, special tax breaks, and the like--not to mention Pentagon waste and the recent scandals in the banking and savings-and-loan industry and the Department of Housing and Urban Development--the magnitude of the fraud in this sensationalized case scarcely warrants a blurb in the B section.
It needs that money for these sweetheart contracts.
Congress must redouble its efforts to prevent defense contractors from conspiring with friendly -- and possibly compromised -- Pentagon employees to push through sweetheart contracts that are unfair to taxpayers.
How does it serve the rest of us to have public-employee unions control the state legislative process, essentially buying sweetheart contracts that are bankrupting California?
All of the unions and city contractors were repaid many times over for their contributions, read payments, with outlandish raises and sweetheart contracts.
Consumers are locked into paying twice the current market rate for electricity because of sweetheart contracts negotiated in secrecy by Gov.
During his nine months as superintendent, Romer has raised more than a few concerns by negotiating sweetheart contracts with LAUSD's unions, expanding the bureaucracy and pushing forward with trying to put 5,000 school kids into the Belmont Learning Center, the nation's costliest but unusable school.
The MTA and its predecessor transit agencies have been a bureaucratic black hole for decades, with scandalous sweetheart contracts, unexplained cost overruns and inadequate service.
A healthy dose of skepticism is in order before anyone believes the public really will get a benefit from the strike and that the featherbedding and sweetheart contracts between the MTA and its unions are gone with the wind.
The council voted to urge the governor to sign Senate Bill 1101, which would require the proposed Valley transit zone to abide by Metropolitan Transportation Authority contracts indefinitely - a key demand of the unions because it protects their sweetheart contracts at the expense of taxpayers who subsidize the MTA and the working class people who depend on it to get to their jobs.
They cut sweetheart contracts during the heady days when the MTA and its predecessor agencies were so fat with tax dollars that there was enough money to rip off the public treasury with impunity.