*Update: Mediation & Arbitration are the same thing

Note: Today’s earlier post [here] has an update. Looks like there was an oversight and this is what I recieved a little bit earlier via email from Carol Kinsley, an assistant to the article’s author, E. Ralph Hostetter:
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There should have been another sentence (colored orange below), based on Mendelsohn’s article.
Mr. Hostetter’s column should read:Under the new legislation if the two parties cannot reach agreement, either may request mediation from the Federal Mediation and Conciliation Service. If mediation fails, binding interest arbitration is mandated. The decision of the arbitration panel is binding for two years.

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