Biden announces tentative labor agreement to avert national rail strike

CNBC ^

[FarCenter]

The tentative agreement averts a national rail strike that would have shut down a key part of the U.S. transportation network.

The new contracts provide 24% pay increases over 5 years from 2020 through 2024 and include immediate payouts averaging $11,000 upon ratification, according to the Association of American Railroads.

[alloysteel]

More money and more money....

Like that has ever solved problems in times of high inflation.

[neverevergiveup]

That's extortion, but sounds like it was a pre-arranged plan between the union and the ‘administration’ to try propping up Biden prior to the mid-terms.

[Sacajaweau]

Why is he announcing it? The industry came up with the plan. He makes it sound like he did it.

[teeman8r]

And 10 %, well, we know

[Shady]

The money hasn’t been the key issue here, the sick leave and scheduling issues are. It will be very interesting to see what the rank and file has to say about this.

[Fresh Wind]

The price of votes continues to escalate. The kollege loan bailout was a mere $10,000 per vote. Now, just a few weeks later, rail union votes are going for $11,000.

[ronnie raygun]

He needs wins before the midterms, this is what its all about

[mewzilla]

I doubt the rank and file will have a say since I don’t think union elections are free and fair any more than are elections for public officials.

[neverevergiveup]

Yep.

[wardamneagle]

Nat gas up 10% yesterday.
Thought is if no compromise power plants will move to nat gas and dump rail supplied coal. But Shitshow Joe will take this and play it praising the union. He avoids the strike and be the hero. Totally staged.

[GreenLanternCorps]

Um, taking credit for the achievements of others is what Joe Biden does...

[slapshot]

Called it yesterday- basically a ruse to prop up Jao Bai Dan regime and opportunity for media to extol the virtues of regime

[caww]

Doubt it will fly but oh well Biden needs to look like a savior again.

[texoz]

Bread and Circus!!

[Sooth2222]

The new contracts provide 24% pay increases over 5 years from 2020 through 2024 and include immediate payouts averaging $11,000 upon ratification, according to the Association of American Railroads.

24%/5 = 4.8% annually.

Inflation was just reported as 8.3% Tuesday.

If it were my union, I'd vote against it.

[cranked]

How many dollars can be shoved into a hole in a dam before the dam just busts?

[Tupelo]

“That's extortion, but sounds like it was a pre-arranged plan between the union and the ‘administration’ to try propping up Biden prior to the mid-terms.”

I agree.
Plus we can be assured The regime's 37 or 73 world renown economist all agree that a 24% pay increase will not have any affect on inflation. Not like a 25% increase would. Now I wonder which unions will be lining up for their pay increase. Off the top of my head, I would say the government employees.

[lucky american]

This is all theater to bring Bribem’s poll numbers up.
I can see it now. Bribem saves the children from starving.

[Vermont Lt]

The government had zero to do with this.

It’s not government money.