Thursday, December 1, 2011

"Concerns grow over possible national railroad strike" (BRK.b; UNP; CSX)

So Mr. President, are you going to leave it up to the "Do-nothing congress" or are you going to use the example of the guy who invented the term?:
Truman orders army to seize control of railroads
From the Los Angeles Times' Money&Co. blog:
Concerns about the possibility of a national railroad strike that may be called as early as Dec. 6 are growing all along the goods movement supply chain.

On Thursday, organizations representing American seaports and retail executives sent letters to the Obama administration and to Congress imploring them to take action to avert a railroad strike that could cost the U.S. economy as much as $2 billion a day.

A strike in the coming days would come at the worst possible time, said Sandra L. Kennedy, president of the Retail Industry Leaders Assn., in a letter to President Obama.

A work stoppage "would disrupt the flow of goods during this critical time, resulting in lost sales, outraged customers," Kennedy said, later adding that it would undermine "what appears to be the strongest holiday shopping season since the recession began."

American Assn. of Port Authorities President and Chief Executive Kurt J. Nagel wrote to congressional leaders, saying, "The National Carriers' Conference Committee estimates that a disruption of rail service could potentially cost our country $2 billion a day. Given the fragility of our current economy and job recovery, this simply cannot be allowed to occur."...MORE