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Wednesday, April 7, 2010 as of 11:14 AM ET

Minimum Wage

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A minimum wage is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers.

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Striking Caterpillar Workers To Vote On Revised Offer

Striking workers at a Caterpillar Inc.

(CAT) plant in suburban Chicago are expected to vote Wednesday on a revised contract proposal from the construction and mining equipment manufacturer.Caterpillar, the world's largest seller of bulldozers, excavators and other earth moving machinery, described the proposal as a "slightly modified" version of the contract offer that the members of the International Association of Machinist and Aerospace Workers rejected earlier. The company declined to provide details about the latest offer. The union's negotiating team did not vote on the offer. Calls to leaders for machinists union Local 851 were not immediately returned.The Peoria, Ill., company presented the revised offer Thursday during a meeting with union representatives and a mediator. The meeting followed a session last week requested by the union.More than 500 members of the machinist union walked off their jobs at Caterpillar's Joliet, Ill., plant after their old contract expired May 1. T...

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