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" The Association of American Railroads said the deal would give rail employees a 24% wage increase during the five-year period from 2020 through 2024, as well as an immediate payout that averages around $11,000."
Are workers getting paid , ( a Premium per say ) for hours worked in 2020 & 2021 ? First time I've seen retro pay go this far back.
A good friend is about to turn 93. Tough road. Husband passed away long ago. Very independent lady. Now faced with possibly loosing driver’s license after accidentally smashing into a newspaper stand in a parking lot. Funny if not so tragic. Oh - I know …. safety first and all that. Yet it’s a monumental loss of one of life’s pleasures.
@Derf - Buffet seems to me pretty liberal considering his lofty perch on the financial ladder. I suspect he’s happy workers are winning back some of their bargaining power. Even though it will impact his wealth.
Henry Ford had it figured out (according to folklore) - at least part way - when he gave his assembly workers a raise. Buffet may well reason likewise: Who’s going to purchase the goods and services his companies produce if a good segment of the population is impoverished?
Retro pay? Back in my working days it was sometimes put in a contract if we had been working without a contract for some period of time. Would you rather have 3 pay raises of 6% a year or just one new raise of 18%? As it works out, you do better with the 3 separate raises over 3 years because they compound. (#2 & #3 are based on a higher previous year’s base.)
In addition to better pay, the railroad workers are seeking more flexible work schedule and medical leave. The terms have not been passed by all the workers, but getting through the first step is good.
Comments
@Derf - Buffet seems to me pretty liberal considering his lofty perch on the financial ladder. I suspect he’s happy workers are winning back some of their bargaining power. Even though it will impact his wealth.
Henry Ford had it figured out (according to folklore) - at least part way - when he gave his assembly workers a raise. Buffet may well reason likewise: Who’s going to purchase the goods and services his companies produce if a good segment of the population is impoverished?
They will be passed along !
Federal workers on the hand, are not allow to strike, just like the flight controllers back in the 80’s.it was quite messy.
https://npr.org/2021/08/05/1025018833/looking-back-on-when-president-reagan-fired-air-traffic-controllers