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 ?
In Georgia, it wasn't athletics but questions about the connections between big donors and sweetheart contracts that helped open up University System of Georgia Foundation records.
From fast ferries to sweetheart contracts to friends to outright lying in more than one budget, they came close to destroying the B.
The scrapping of sweetheart contracts could lead to unrest at some of the country's biggest firms.
But to talk now of helping Washingtons poor as often summons memories of Barry's sweetheart contracts and employment programs that produced few jobs.
went to the Teamsters' corrupt International leadership of that era and conspired to write sweetheart contracts and shove them with undemocratic zest down the throats of the workers.
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.
Now is the time, says John Sisk of SEACC, to terminate the 50-year sweetheart contracts once and for all.
According to Gravano, Sasso signed sweetheart contracts with racket dominated companies and participated in employer payoffs.
They should not allow themselves to be used as tax shelters, or instruments for entering into sweetheart contracts with private businesses, or sources of additional income for their organizers and officers.
It needs that money for these sweetheart contracts.
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?