Thursday, July 7, 2022
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Bernie Sanders writes Warren Buffett in support of Local 40 strikers

in Opinion
Bernie sanders writes warren buffett in support of local 40 strikers

Supreme Court Justice Nominee Judge Sonia Sotomayor

Share on FacebookShare on Twitter

Senator Bernie Sanders sent a letter to Warren Buffett in support of our 450 siblings at USW Local 40 who have been on strike against Special Metals in Huntington, West Virginia, a subsidiary of Precision Castparts which Buffett’s Berkshire Hathaway owns.

The text reads:

Dear Mr. Buffett,

As I’m sure you know, 450 steelworkers at Special Metals in Huntington, West Virginia, a subsidiary of Precision Castparts which Berkshire Hathaway owns, have been engaged in a bitter strike for almost 100 days. These skilled employees produce critically important materials for space crafts, airplanes, and submarines. They do their work with great pride and diligence, and many of them have been employed at the company for years.

Despite their hard work and loyalty, the company has offered them a 5-year contract that is outrageous and insulting. At a time when inflation is over 6% and when Precision Castports made $1.5 billion in profits last year, the latest offer from your management team is for a zero pay increase this year. Instead, the company would simply provide a $2,000 signing bonus. Further, the workers would get a totally inadequate 1 percent wage increase next year, and a tiny 2 percent increase for the following three years. This amounts to a very significant cut in real pay when accounting for current inflation.

To add insult to injury, the company also wants to make major cuts in employee health care. It would almost quadruple the cost of health care for these workers, taking a current monthly premium from $275 up to approximately $1,000. The contract offer would force these workers into high-deductible plans that aren’t worth the paper they’re written on.

The company also wants to cut back on the vacation time that employees have accrued.

Mr. Buffett: You have spoken out eloquently on the crisis our country now faces in terms of growing income and wealth inequality. You have correctly pointed out that, while working families struggle, the top one percent is doing extremely well.

Over the years, under your leadership, Berkshire Hathaway has been phenomenally successful. Berkshire reported a record $6.5 billion in operating income last quarter, an 18 percent increase from the same quarter one year ago. It now sits on nearly $150 billion in cash. Further, it is no secret that you are one of the richest people in the world, with wealth of over $108 billion.

Today, I am personally requesting that you intervene in the negotiations between Steelworkers Local 40 and Precision Castparts to make sure that the workers are treated with dignity and respect and receive a fair contract that rewards the hard work and sacrifices they have made. At a time when this company and Berkshire Hathaway are both doing very well, there is no reason why workers employed by you should be worrying about whether they will be able to feed their children or have health care. There is no reason why the standard of living of these hard working Americans should decline. I know that you and Berkshire Hathaway can do better than that.

I would appreciate the opportunity to speak with you about this matter as soon as possible.

Sincerely,

BERNARD SANDERS UNITED STATES SENATOR

Tags: Bernie SandersUnionsWarren Buffet

Related Posts

Passive etfs are surprisingly active
Opinion

Passive ETFs Are Surprisingly Active

How dealmakers can capitalize on market volatility
Opinion

How Dealmakers Can Capitalize on Market Volatility

Regulatory cooperation
Opinion

Electrifying Your Digital Transformation

5 things hr should consider when addressing wage transparency laws
Opinion

5 Things HR Should Consider When Addressing Wage Transparency Laws

Mandated financial disclosure leads to fewer innovative companies
Opinion

Mandated Financial Disclosure Leads to Fewer Innovative Companies

Automaker ceos urge congress to lift ev tax credit cap
Opinion

A New Era for Fuel Retailers

Collaborative advantage: activating the power of many
Opinion

Collaborative Advantage: Activating the Power of Many

Why locking in subscribers is bad for business
Opinion

Why Locking In Subscribers Is Bad for Business

Smart cities, smarter public health
Opinion

Smart Cities, Smarter Public Health

Standing still is not an option
Opinion

Standing Still Is Not an Option

No Result
View All Result

Recent Posts

  • Jobless Claims Rose Slightly Last Week, Layoffs Hit 16-Month High
  • U.K. Prime Minister Boris Johnson Resigns
  • Passive ETFs Are Surprisingly Active
  • Amazon Secures Stake in Grubhub, Gets into Food Delivery
  • Job Openings Fell in May as Demand for Workers Remains Strong

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    CEO Latin America | ES

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – george.hatfield@ceo-na.com
    Advertising – media@ceo-na.com

     

    AUSTIN

    600, Congress Avenue 14th Floor
    Austin, TX.
    78701
    USA
    +1 512 649 0340

    NEW YORK

    387 Park Ave South,
    New York, NY.
    10016
    USA
    +1 212 796 64 15

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?