Thursday, February 2, 2023

How to be a profitable company

"Union Pacific, one of the major freight railroads that successfully fought off union demands for paid sick days for workers during contentious labor negotiations in 2022, reported another year of record earnings Tuesday.
The company, along with CSX, Norfolk Southern and Burlington Northern Sante Fe, narrowly avoided a strike by its unionized workers when Congress imposed new contracts on about half of its union members in December.
For the year, the company’s employee pay and benefits rose by about $500 million, or 12%, to $4.6 billion, far less than the $6.3 billion that Union Pacific spent repurchasing shares of stock. "

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