Labor Update: Immediate Strike Threat Averted
I am very pleased to inform you that the railroads reached tentative settlement agreements with two of the three remaining unions last night. The third union, the Brotherhood of Maintenance of Way Employees (BMWE), has agreed to extend the cooling off period until February 8, 2012. These developments avert the immediate threat of a national rail strike.
We believe the willingness of our customers to contact their Congressional delegations had a significant impact. Your letters helped Congress clearly recognize the impact of an impending strike, leading to a public statement of their willingness to intervene.
We look forward to providing you with uninterrupted service as we move through the busy holiday season. I will update you as the railroads continue to work with the BMWE to bring this bargaining round to conclusion.
Thank you for your support during this difficult period.
Executive Vice President and Chief Marketing Officer