Legal and economic issues pertaining to collective bargaining in a retrenchment situation are considered in 18 conference papers. Titles and authors are as follows: "Retrenchment in State Government: Its Consequences for Higher Education" (James R. Mingle); "A Chancellor's Perspective on Retrenchment" (Joseph S. Murphy); "An Analysis of the AAUP's Recommended Institutional Regulation on Financial Exigency" (Lawrence White); "Financial Exigency and Contract Law" (John A. Gray); "Avoiding Financial Exigency" (Sigmund G. Ginsburg); "Planning to Avoid Financial Exigency" (Ann H. Franke); "A Union Perspective on Cooperative Ventures in a Period of Retrenchment--No. I and No. II" (Alan D. Willsey--No. I and Arnold Cantor--No. II); "Retrenchment--Faculty and Staff Policies" (C. Keith Groty); "Bargaining Retrenchment--Procedural Criteria for Layoff" (Jack Samit); "How Neutrals Can Help Bargainers in Troubled Times" (Robert Birnbaum); "Retrenchment--The Wayne State Experience" (Melbourne G. Stewart); "Negotiating Alternatives to Layoff--The Macomb County Community College Experience" (Bill Knott); "Negotiating Alternatives to Layoffs--The Oregon State Experience" (W. T. Lemman); and "Avoiding Financial Exigency: The Canadian Association of University Teachers Experience" (Tina Head). Three papers concern Northern Michigan University's experience of financial exigency. They are: "A Union Officer's Perspective" (David Carlson); "A Grievance Officer's Perspective" (Candy Bays); and "An Administrative Response" (Glenn R. Stevens). (SW)