"The same wealthy rail industry executives that say they can't afford to pay their workers fair wages all had banner years in net revenue and shareholder giveaways."A new analysis shines fresh light on U.S. railroad giants'"greedy behavior"—from gorging on their own stock to ramping up fees to pad their bottom lines—as workers struggle for basic rights and benefits in ongoing contract negotiations that could result in the first national rail strike in decades.
"Big Rail has opted to impose record fees and shortchange their workers while continuing to enrich a small group of investors." In those nine months, Union Pacific spent nearly $8 billion on stock buybacks and dividend payouts to shareholders, Accountable.US notes. The rail transportation giant CSX reported a 37% surge in Fiscal Year 2021 net income, the watchdog added, and the company repurchased $3.7 billion worth of its own shares during the first three quarters of this year.
Rail workers haven't fared nearly as well as industry giants and their wealthy executives and shareholders. For the past three years, many rail employees have worked under increasingly grueling conditions
Do they still have handlebar mustaches?
strike UnionStrong