Tuesday, March 28, 2023
  • 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 LinkedinShare on WhatsApp

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

Do you know why your employees are leaving?
Opinion

Do You Know Why Your Employees Are Leaving?

Here are the 5 key drivers of employee engagement
Opinion

Here are the 5 key drivers of employee engagement

What do your customers want in 2023?
Opinion

What Do Your Customers Want in 2023?

Five questions all leaders should always be asking
Opinion

Five Questions All Leaders Should Always Be Asking

Two basic problems of a declining population in a country
Opinion

Two basic problems of a declining population in a country

4 surprises all leaders face
Opinion

4 Surprises All Leaders Face

Women get “nicer” feedback — and it holds them back
Opinion

Women Get “Nicer” Feedback — and It Holds Them Back

Does it feel like your department has been sidelined?
Opinion

Does It Feel Like Your Department Has Been Sidelined?

How to test if your interview process is a nightmare
Opinion

How to Test If Your Interview Process Is a Nightmare

Helping gen z employees find their place at work
Opinion

Helping Gen Z Employees Find Their Place at Work

No Result
View All Result

Recent Posts

  • Symbotic’s CEO Rick Cohen shines a light on the consumer goods supply revolution
  • CEO John Wynne outlines how Fortis Solution Group is disrupting the packaging industry
  • CEO Keh-Shew Lu explains how Diodes Inc is pushing the frontiers of connectivity
  • CEO NA Andrea Pirondini explains why the Prysmian Group is best-in-class at cable solutions
  • Eric Clark on how ONE NTT is driving client-led innovation

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

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

    Editorials – stuart.james@ceo-na.com

    Advertising – media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

     

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

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

    Editorials –
    stuart.james@ceo-na.com

    Editor-In-Chief –

    caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising –
    media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    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

    © 2023 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

    Warning: array_sum() expects parameter 1 to be array, null given in /home/ceonacom/public_html/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111