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☆ U.S. House votes to block rail strike, mandate paid sick leave
▼ + stars: | 2022-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

WASHINGTON, Nov 30 (Reuters) - The U.S. House of Representatives on Wednesday voted to approve a bill to block a potentially crippling railroad strike and to mandate paid sick time for rail workers. The House separately voted 221-207 to give seven days of paid sick leave to railroad employees, but that faces an uncertain fate in the Senate. Democrats and some Republicans have expressed outrage over the lack of paid short-term sick leave for railroad workers. "We know much more needs to be done for railroad workers," House Speaker Nancy Pelosi said ahead of the votes. Asked if Biden supported the separate House measure to require sick leave, White House Press Secretary Karine Jean-Pierre said that the president broadly supports paid sick leave for all Americans "but he does not support any bill or amendment that would delay getting this bill to his desk."

☆ U.S. House set to approve bill to block rail strike
▼ + stars: | 2022-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 30 (Reuters) - The U.S. House of Representatives is set to vote on Wednesday to approve a bill to block a potentially crippling rail strike, but the fate of a separate proposal by lawmakers to mandate paid sick time remains uncertain. The influential business lobby group said the sick leave vote "would impose an unworkable, one-sided modification to a labor agreement." There are no paid short-term sick days under the tentative deal after unions asked for 15 and railroads settled on one personal day. But some labor leaders have criticized Biden for asking Congress to impose a contract that workers in four unions have rejected over its lack of paid sick leave. Both Transportation Secretary Pete Buttigieg and Labor Secretary Marty Walsh are set to speak to Senate Democrats on Thursday about the rail labor issue.

☆ House approves tentative labor deal to avoid rail strike
▼ + stars: | 2022-11-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

The House passed legislation Wednesday that would force a tentative rail labor agreement and thwart a national strike. House Speaker Nancy Pelosi also plans to hold a separate vote to add seven days of paid sick leave to the agreement. He met with the four House and Senate leaders Tuesday in an effort to avoid the economic impacts of a rail strike, which the industry forecasts could cost the U.S. economy $2 billion per day. Railways and their labor unions had until Dec. 9 to reach an agreement before workers promised to strike. The tentative labor deal grants workers one additional personal day, for a total of three personal days for railroad workers.

☆ U.S. House votes to approve bill to block rail strike
▼ + stars: | 2022-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Nov 30 (Reuters) - The U.S. House of Representatives on Wednesday voted to approve a bill to block a potentially crippling rail strike, but the fate of a separate proposal by lawmakers to mandate paid sick time remains uncertain. A separate vote was ongoing on whether to give seven days of paid sick leave to railroad employees, which lawmakers said is also expected to pass the House but faces an uncertain fate in the Senate. "We know much more needs to be done for railroad workers," House Speaker Nancy Pelosi said. The influential business lobby group said the sick leave vote "would impose an unworkable, one-sided modification to a labor agreement." Both Transportation Secretary Pete Buttigieg and Labor Secretary Marty Walsh are set to speak to Senate Democrats on Thursday about the rail labor issue.

☆ A battle over paid leave is threatening to grind the US economy to a halt
▼ + stars: | 2022-11-30 | by ( Juliana Kaplan | Hannah Towey | ) www.businessinsider.com time to read: +7 min

US rail workers are preparing to strike over their latest negotiations with management. Three years of rail workers' negotiations with management over this issue could soon culminate in an economy-disrupting strike, after the latest tentative agreement included just one paid personal day off a year. That's too far from the 15 days of paid sick leave that rail workers pushed for, and which railroads argue would cost them $688 million a year. While praise for essential workers has faded, rail workers still hold a lot of power in the economy. "The stockholders would go absolutely crazy if we were able to strike for one day."

☆ America may dodge a crippling rail strike. Here’s how we got here
▼ + stars: | 2022-11-30 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The House approved two pieces of legislation Wednesday, one to impose the tentative agreements that members of four of the unions have already rejected, keeping 115,000 rail workers on the job and averting a strike. More than just sick daysThe fact that this is still an issue more than two months after an 11th-hour tentative deal was reached goes beyond the issue of paid sick days. All 12 rail unions agreed to the tentative deals that generated so much opposition. But he said the issue of sick days will not be going away. Senator Bernie Sanders, a close ally of the labor movement, tweeted “At a time of record profits in the rail industry, it’s unacceptable that rail workers have ZERO guaranteed paid sick days.

☆ Biden urges Congress to pass legislation to avert nationwide rail strike
▼ + stars: | 2022-11-29 | by ( Zoë Richards | Zoë Richards Is The Evening Politics Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

President Joe Biden on Monday called on lawmakers to quickly approve a labor deal that would avert what he called a “potentially crippling national rail shutdown” as early as Dec. 9. The tentative agreement, which Speaker Nancy Pelosi said the House would vote on this week, aims to prevent a freight strike just two weeks before Christmas, but it has divided workers at two of the country’s biggest rail unions. Shortly after Biden’s statement, Pelosi said the House would soon consider the tentative agreement. The deal would provide a 24% pay raise for rail workers over five years and bump the average pay up to $110,000 by 2024, the Association of American Railroads says. Four out of a dozen unions representing rail workers have rejected the tentative agreement, but just one union’s decision to strike would require all 12 to honor it, bringing the system to a halt.

WASHINGTON/LOS ANGELES, Nov 29 (Reuters) - The U.S. House of Representatives plans to vote Wednesday to block a potential a U.S. rail strike after President Joe Biden warned of the dire economic consequences of a rail disruption that could happen as early as Dec. 9. U.S. House Speaker Nancy Pelosi said lawmakers will vote Wednesday to impose a tentative contract deal struck in September. At a White House meeting Tuesday with congressional leaders, the Democratic president was asked if he was confident he could avert a rail strike, and responded, "I am confident." Labor unions have criticized the railroads’ sick leave and attendance policies and the lack of paid sick days for short-term illness. There are no paid sick days under the tentative deal.

☆ Tech companies begin rerouting critical chip supplies to trucks with rail strike looming
▼ + stars: | 2022-11-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

Technology companies supplying critical semiconductor chips to the economy have started shifting cargo shipments from railroads to trucks with a national freight rail strike looming. The moves are being made, DHL Global Forwarding tells CNBC, in an effort to avoid any pre-strike rail preparations that would force freight rail companies to prioritize cargo. "This is tech cargo originating out of California," said Goetz Alebrand, head of ocean freight for the Americas at DHL Global Forwarding. "There are more trucks and chassis, but that does not mean there are enough trucks to move all rail cargo onto trucks," Alebrand said. Delays incurred by a rail strike would only add to the late charges shippers pay the railroads on late cargo.

☆ We are taking every step to avoid a rail work stoppage, says Association of American Railroads CEO
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are taking every step to avoid a rail work stoppage, says Association of American Railroads CEOIan Jefferies, president and CEO of the Association of American Railroads, joins CNBC's 'Squawk Box' to discuss the impact of a rail stoppage on the U.S. economy amid a potential strike.

New York CNN Buiness —With a crippling freight rail strike looming in two weeks, leaders of four railroad unions and management of the major US freight railroads are due back at the negotiating table Tuesday afternoon. It will be the first joint negotiating session for the four unions, whose rank-and-file members rejected the five-year labor agreements similar to deals accepted by the eight other rail unions in recent months. If any one of the unions goes on strike, it would be honored by all 12 unions, which would bring US freight rail service to a halt. Union members also would receive cash bonuses of $1,000 a year. All told, the backpay and bonuses would give union members an average payment of $11,000 per worker once the deal is ratified.

☆ Rail workers are 'enraged' and feel 'mistreated,' says a union president. It could end in a holiday season strike that would send shockwaves through the US economy.
▼ + stars: | 2022-11-22 | by ( Hannah Towey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Rail workers might go on strike in December, potentially rattling the supply chain and the whole economy. BLET narrowly voted to ratify an agreement with management, but another major union voted to reject. Ultimately, if any union goes on strike, other rail unions likely will not cross the picket line. Rail workers voted in record numbers after feeling "alienated," "enraged," and "mistreated, all for the sake of profit"The Transportation Division of Sheet Metal, Air, Rail, and Transportation Workers (SMART-TD), which has over 28,000 eligible voting members, narrowly voted down the proposal. If any union does strike, Pierce said, "no other union is going to cross that picket line in the railroad biz."

☆ Rail workers at biggest unions split on contract, strike potential unclear
▼ + stars: | 2022-11-21 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

Workers at two of the country's biggest rail unions split over a tentative contract their leaders had hashed out with freight rail companies — leaving open the possibility of a debilitating rail strike in the middle of the holiday season. The 28,000-member SMART-TD union, which represents rail conductors, voted no on the contract, after one of their divisions voted it down. A strike could also impact the country’s commuter rail system, with the potential to halt service entirely on some lines serviced by freight rail workers and cause backlogs and traffic snarls on others. The National Carriers’ Conference Committee, which represents rail companies in the bargaining process warned about the economic threats of a strike. The Association of American Railroads, the trade group which represents the rail companies, estimates losses of $2 billion a day.

☆ Rail strike potential grows, threatening to worsen supply chain backlogs, inflation
▼ + stars: | 2022-11-17 | by ( Eli M. Rosenberg | Eli Rosenberg Is An Investigative Tech Reporter For Nbc News. | ) www.nbcnews.com time to read: +12 min

That’s how much paid sick leave some freight rail workers are demanding from the rail companies before they sign new contracts. Rail workers say years of grievances about workforce cuts, coupled with new scheduling requirements, have pushed them to the brink of exhaustion. But if any of the unions decides to strike, all rail unions will honor the work stoppage. Kennedy said the union had never agreed to higher wages at the expense of a benefit like paid sick leave. “A rail strike, even one of short duration, would be catastrophic,” said John Drake, a vice president at the Chamber of Commerce.

☆ It's important our employees to get the compensation they deserve, says Assoc. of American Railroads CEO
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's important our employees to get the compensation they deserve, says Assoc. of American Railroads CEOIan Jefferies, president and CEO of the Association of American Railroads, joins The Exchange' to discuss what happens if railroad unions end up striking, why all 12 railroad unions need to ratify an agreement and more.

☆ With U.S. economy at risk, here's how a national rail strike could start in December
▼ + stars: | 2022-11-17 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

The strike prep calendar for rail operators, customers, and logistics managers continues to be in flux with a lack of coordination between key rail unions leaving open the potential for two strike dates in December. BMWED, which represents the Brotherhood of Maintenance of Way Employees, is scheduled to strike on December 5 with the The Brotherhood of Railroad Signalmen (BRS). But unlike BMWED, the BRS — which can also strike after its cooling-off period ends on Dec. 4 — has not indicated whether it will extend its deadline for talks. According to federal safety measures, railroad carriers begin prepping for a strike seven days before the strike date. The carriers start to prioritize the securing and movement of security sensitive materials like chlorine for drinking water and hazardous materials in the rail winddown.

☆ Key freight rail union BMWED extends deadline for strike that threatens U.S. economy
▼ + stars: | 2022-11-09 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The Brotherhood of Maintenance of Way Employees Division, the third largest rail union in the country, is extending its status quo period (no strike, no lockout) during which it wants to continue negotiations with the freight rail carriers. Meanwhile, two major rail unions are set to vote on ratifying the deal on Nov. 21: The Brotherhood of Locomotive Engineers and Trainmen, and the Smart Transportation Division. The rail industry has previously estimated the cost to the economy of a rail strike at $2 billion per day. The BMWED was the first rail union to vote against ratification of a labor agreement negotiated in conjunction with Biden's PEB. All 12 labor unions must ratify a labor agreement to avoid the potential for a nationwide rail shutdown.

☆ We've got plenty of time to work through a potential railroad employee strike, says AAR's Jefferies
▼ + stars: | 2022-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've got plenty of time to work through a potential railroad employee strike, says AAR's JefferiesIan Jefferies, Association of American Railroads president and CEO, joins 'The Exchange' to discuss the stumbling block point for railway employees, if he is hopeful for a new railroad employee deal and more.

☆ Second railroad union votes down deal needed to avert nationwide strike
▼ + stars: | 2022-10-26 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +2 min

The Brotherhood of Railroad Signalmen is the second union to vote down the tentative agreement between rail unions, freight rail companies and the Biden administration that was reached on September 15 and critical to avoiding a nationwide rail strike. "For the first time that I can remember, the BRS members voted not to ratify a National Agreement, and with the highest participation rate in BRS history," said BRS president Michael Baldwin in a statement. The NCCC and PEB also both failed to recognize the safety-sensitive and highly stressful job BRS members perform each day to keep the railroad running and supply chain flowing." The rejection of the National Tentative Agreement begins a "status quo" period during which the union will reengage with the NCCC until December 4. The railroads have estimated that a rail strike could cost the economy $2 billion per day.

☆ Freight Operators’ Peak Shipping Season Is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +7 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas. Citi analysts say they expect a “weaker peak season and a large amount of uncertainty in terms of the magnitude of demand.”—Esther Fung and Liz Young contributed to this article.

☆ Freight Operators’ Peak Shipping Season is Crumbling
▼ + stars: | 2022-10-18 | by ( Paul Berger | Paul Page | ) www.wsj.com time to read: +6 min

The peak shipping season is fizzling as overstocked retailers cancel overseas orders and freight companies scale back expectations for heavy freight volumes heading into the holidays. But a range of measures of shipping demand across the U.S. are sliding, freight rates are falling as a result, leading carriers to pull back capacity amid concerns a deeper downturn is coming. Many retailers pulled peak season orders in early this year to avoid a repeat of 2021 when supply-chain congestion caused delays and product shortages during the holidays. Container shipping rates that hit record highs last year have also pulled back sharply, although they still remain above 2019 levels. The peak shipping season cascades down into package transport, as United Parcel Service Inc., FedEx Corp. and others typically handle growing volumes as the calendar counts down to Christmas.

But that doesn’t mean that the freight railroads are providing good service to their customers. Many of the problems tangling up the supply chain, driving up prices and slowing the economy can be traced to the steady decline in freight rail service in recent years. “Railroads understand that service is not at the level customers expect or deserve. “”I’m told by a lot of our members that this has been the worst rail service year in their careers. For rail customers there is basically no alternative for the products they ship.

☆ Recession indicators are flashing and Wall Street's fear gauge suggests stocks haven't hit bottom. Here's what you want to know.
▼ + stars: | 2022-09-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Traders on the floor of the New York Stock Exchange (NYSE) Spencer Platt/Getty Images1. Maybe that third one isn't quite so guaranteed — but history tells us the bond market's recession warning is a pretty reliable signal of a downturn in the near to medium-term. The two-year yield on Thursday jumped eight basis points, to 3.86%, 39 basis points above the 30-year Treasury yield of about 3.47%. The stock market's fear gauge is off, too, according to DataTrek. How confident are you in the current market?

Railroads and workers' unions reached a tentative labor agreement early Thursday to avert a national rail strike that threatened to shut a major segment of the U.S. transportation network. "The tentative agreement reached tonight is an important win for our economy and the American people," President Joe Biden said in a statement announcing the deal. The White House had been in talks with railroad workers' unions and companies for several months, but negotiations were hung up over unpaid sick time. He thanked railroad unions and companies for negotiating "in good faith." Negotiators from railroad carriers and unions had met in Labor Secretary Marty Walsh's office Wednesday as the sides tried to negotiate a deal ahead of Friday's strike deadline.

☆ Rail Shippers Brace for Potential National Strike
▼ + stars: | 2022-09-14 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

Companies from food suppliers in the Midwest to retail importers across the U.S. are bracing for a potential national rail strike by seeking alternative transport to keep their supply chains running. Tens of thousands of American workers are on strike and thousands more are attempting to unionize. “We believe the potential for a rail work stoppage is growing,” Citi’s Christian Wetherbee wrote in a research note Wednesday. Other shippers will have to hold on to cargo if the rail network shuts down. U.S. railroads hauled more than 18,000 carloads of grains over the past week, according to the Association of American Railroads.

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