CANADIAN NATIONAL RA

CNR
Delayed Toronto Stock Exchange - 12:17 2022-12-05 pm EST
171.88 CAD -0.09%

Deutsche Bank on US Rails' Labour Update

09/22/2022 | 12:01pm
(MT Newswires) -- Deutsche Bank analyst Amit Mehrotra notes US President Joe Biden's Supply Chain Envoy said he believes the recently negotiated tentative agreement between the six Class I railroads and unions will be ratified. Those votes will occur between Sept. 28 and mid-October. If the agreement is rejected, it won't automatically lead to a strike, but rather would bring parties back to the table to negotiate another agreement. The Envoy also offered a benign outlook for the ongoing West Coast port union negotiations, saying that "there is nothing that would lead me to think you are going to see a massive disruption at West Coast ports....", and he believed the two sides would reach an agreement in October; however, that date may move back but a deal is obtainable.

"The bottom line is we appear to be nearing the end of a couple major labor-related risks for the transportation industry, though we are still yet to get details on the financial impact for the rails. The next major watch item is the Teamsters negotiation with UPS, which we expect to get going around March next year," Mhrotra reports.

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MT Newswires 2022
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