Know The Difference Minute

57% of members in the 3rd largest freight union voted to oppose the agreement. Without a ratified deal, the strike threat is back.

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It ain’t over.
Welcome to the Know the Difference Minute for Tuesday, October 11th.
A month ago, it looked like we dodged a major railroad strike. A big one. One with a $2 billion DAILY impact. After non-stop negotiations, the Biden administration took a victory lap when most of the unions involved voted in favor. Most but not all.
Yesterday, the 3rd largest freight union representing workers who build and maintain tracks and bridges announced 57% of members voted to oppose the agreement. Without a ratified deal, the strike threat is back—but not until at least November 19th.
Also in the mix, the two largest unions have yet to vote. Even if they vote in favor, if the first union goes out, that’s enough to trigger a strike. 30% of American goods travel by rail. A strike in the 4th quarter is NOT what this economy needs.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.