Courtesy of WRCR.
The threat of a national railroad strike may be on hold as a tentative deal was announced early this morning, potentially avoiding tomorrow’s 9am deadline. CNBC reported that negotiators from railroad carriers and unions met in the Labor Secretary’s office yesterday as both sides tried to hash out a deal, with the announcement of a tentative agreement coming just this morning from the White House. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge says if the strike does happen, it would be horrible for the economy…
CNBC says a strike could affect about 60,000 workers on more than 7,000 trains, and that would cost the U.S. economy more than $2 billion a day. Amtrak routes could be affected as well, since nearly all of their long-distance train service operates on freight railroads.