Rail companies and union reach tentative agreement

Sep. 15, 2022 5:22 AM ETCNI, CP, CSX, NSC, UNP, BRK.A, BRK.BBy: Kim Khan, SA News Editor101 Comments

Railroad wheels in motion

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  • Railway workers and companies have come to a tentative labor agreement that would avert a strike, the Department of Labor said.
  • "The tentative agreement reached tonight is an important win for our economy and the American people," President Joe Biden said in a statement.
  • Rail workers will get better pay and improved working conditions, while companies will be able to retain and recruit more workers, Biden said.
  • The White House had been considering the use of emergency powers to keep key goods moving by rail in the event of a strike.
  • Related tickers: Berkshire Hathaway (BRK.A) (BRK.B), CSX Corporation (CSX), Union Pacific (UNP), Norfolk Southern (NSC), Canadian Pacific (CP), and Canadian National Railway (CNI).

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