 |
On July 15th, the President signed an Executive Order creating an Emergency Board to facilitate an agreement between rail companies and unions. This action has averted immediate action by the parties including lockouts or strikes. Establishing an Emergency Board will create an opportunity for the unions and management to negotiate a settlement during a mandated “cooling off” period. The three person panel will deliver a report to the White House within 30 days and if there is no resolution a second 30-day cooling off period will commenced preventing either a walkout or a lockout. Any overt labor action by either party would exacerbate the currently stressed supply chain, contributing further to inflation.
|