Problem
On the Friday after Thanksgiving in 2011, when representatives for the basketball players met with representatives for the team owners and the league, the fate of the NBA's 2011-12 season was at stake. The NBA had imposed a lockout after the previous collective bargaining agreement expired. Now the owners were negotiating to improve team profitability and the players were negotiating to avoid giving up basketball-related income. Talks stretched from Friday into Saturday, and before dawn, the two sides came to agreement. The players would receive at least 50 percent and possibly more of the basketball-related income, according to a complex formula. The owners would have some spending restrictions and make payments for better competitive and financial balance between teams. The players withdrew their lawsuits and applied to have their union recertified so they could ratify the new contract. Owners began signing players, and the shortened season got underway on December
Questions
1. After mediation failed to help resolve the issues between players and owners, do you think arbitration should have been the next step? Explain your answer.
2. What are the advantages and disadvantages of using a lockout when lengthy talks don't lead to an agreement and both players and owners will face heavy financial losses if games aren't played?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.