Rail

The managing partner of Soroban Capital Partners, Eric Mandelblatt, said in a letter that the Omaha, Nebraska-based railroad has lagged behind its peers during Lance Fritz' tenure over the past eight years and that a leadership change is overdue. read more >

The Senate passed a bill to bind rail companies and workers to a proposed settlement, sending the legislation to President Biden. read more >

The bill lawmakers are considering would impose a compromise labor agreement brokered by the Biden administration that was ultimately voted down by four of 12 labor unions. read more >

"Let me be clear: a rail shutdown would devastate our economy," the president said in a statement. read more >

The business groups led by the U.S. Chamber of Commerce, National Association of Manufacturers and National Retail Federation said even a short-term strike would have a tremendous impact and the economic pain would start to be felt even before the Dec. 9 strike deadline. read more >

A split vote Monday from the two biggest railroad unions follows the rejection by three other unions of their deals with the railroads that the Biden administration helped broker before the original strike deadline in September. Seven smaller unions have approved the five-year deal that, on top of the 24% raise, includes $5,000 in bonuses. read more >

The move allows time for engineers and conductors to vote on their agreements with the freight railroads and give more opportunity for the industry to renegotiate with two unions that rejected their deals last month. read more >

Depending on the mode of operation, fuel savings and greenhouse gas emission reductions could total up to 80%. read more >

If both sides can't agree on contracts, Congress could step in to block a strike and impose terms on the workers. read more >

The deal that's retroactive to 2020 will give rail workers the biggest raises they've seen in more than four decades. But the concessions related to working conditions may prove to be more important to them. read more >

The widely expected move will keep 115,000 rail workers on the job while the arbitrators develop a set of contract recommendations for both sides to consider. read more >

Shippers, regulators and labor groups say the railroads cut too deeply when they eliminated nearly one-third of their workforce in recent years in the name of efficiency. read more >

Union employees say a new company attendance policy violates their contract. read more >