Chicago Teachers Union members voted last week to give their leadership the authority to scrap the union's contract with the Chicago Board of Education and call a strike because teachers have not received a promised salary increased this year.

The specter of a possible strike over the salary issue was one of the issues cited by Standard & Poor's Corp. on Oct. 6 when it assigned a negative outlook to the board's BBB rating on $75 million of outstanding general obligation debt.

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