31 January 2023

How to be a profitable company

"Union Pacific, one of the major freight railroads that successfully fought off union demands for paid sick days for workers during contentious labor negotiations in 2022, reported another year of record earnings Tuesday.

The company, along with CSX, Norfolk Southern and Burlington Northern Sante Fe, narrowly avoided a strike by its unionized workers when Congress imposed new contracts on about half of its union members in December.

For the year, the company’s employee pay and benefits rose by about $500 million, or 12%, to $4.6 billion, far less than the $6.3 billion that Union Pacific spent repurchasing shares of stock. "

4 comments:

  1. It’s too bad the Democrats we’re not still in control of Congress in December. They are the party of the working class and labor unions, and would have ensured these workers got those paid sick days.

    ReplyDelete
  2. Sure, they could have passed a law forcing the railroads to pay sick leave. Surely private and public corporations wouldn't object to that, as they always welcome guidance from the government in operating their business. The Wall Street boys would certainly put their stamp of approval on it too.
    (I found his sarcasm emoji)
    xoxoxoBruce

    ReplyDelete

Related Posts Plugin for WordPress, Blogger...