Railroad Strike would take huge toll on the Supply Chain

A BNSF rail terminal worker monitors the departure of a freight train, on June 15, 2021, in Galesburg, Ill. (AP Photo/Shafkat Anowar, File)

Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Brace for Economic Shockwaves and Empty Shelves as Railroad Strike and New Energy Spike Could Hit Hard
  • More than 100,000 railroad workers are threatening to walk off their jobs this week over worker pay, health care, and other issues.
  • Unions are now negotiating with the nation’s biggest freight railroads, including Union Pacific, CSX, Norfolk Southern, BNSF, and Kansas City Southern, and have announced eight of the 13 tentative agreements needed to avert a strike.
  • The deals that have been announced so far have closely followed the Presidential Emergency Board’s recommendations that called for 24% raises over five years, $5,000 in bonuses and one additional paid leave day a year. But the two biggest unions representing conductors and engineers have been holding out because they want the railroads to go beyond those recommendations and address some of their concerns about strict attendance policies and working conditions.
  • If a deal is not made, then passenger service, supply chains, and jobs could be affected, costing the economy an estimated $2 billion per day.
  • Bloomberg explains the impact on the supply chain would be huge because trains transport 28% of all U.S. freight.

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