CSX - Rails drama over new contract service issues

The major railroads in the U.S. plan to offer their employees up to $600 a month in advance of raises they expect to pay once the current two-year-old national contract talks are eventually settled, according to Associated Press. That measure is meeting some resistance from a coalition of unions that represents more than 105,000 railroad workers, who stated they will refuse the payments partly because workers would be on the hook to repay some of the money if the eventual raises are not big enough to cover the payments. The unions are pushing the National Carriers’ Conference Committee to negotiate a contract instead. Executives at CSX Corporation (CSX -0.6%) and Union Pacific (NYSE:UNP -0.2%) indicated last week during their earnings calls  that a comprehensive contract with the unions is likely still some time away. The contract talks are said to be mired in mediation while the railroads pursue unpopular proposals to cut

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Rails drama over new contract, service issues