The idea of organizing workers according to their skills, as exemplified by the member unions of the American Federation of Labor (AFL).
industrial unionism
Unionizing approach which argued that all workers in a particular industry should be organized in a single union, regardless of what functions the worker performed. This became the founding ideal of the Congress of Industrial Organizations (CIO).
refinance
To renew or reorganize financing-- often achieved in a process whereby an existing loan or mortgage is paid off with the proceeds of a new loan secured by the same collateral. Refinancing is often undertaken to avoid foreclosure. The new loan is usually at a lower interest rate for a longer term and with lower payments.
