Given the Democratic Party’s long-standing image as the party more sympathetic to worker rights and labor unions, there’s no getting around the astoundingly bad optics of Nancy Pelosi’s swift embrace of corporate America’s appeal to Congress to prohibit a nationwide railroad strike
To an extent, I understand management's reluctance to agree to this. If you give union employees 15 paid sick days (I assume this is per year?), you can bet that they will take them all, whether they are ever sick or not. In effect, it would be the equivalent of giving them two extra weeks of paid vacation.
As a basic premise, of course management is going to be reluctant to accept any level of paid sick days.
But the way to let management and labor reconcile that particular point is for Congress to not interfere and put its thumb on the scale one way or the other.
Instead, we get the odious hypocrisy of Vodka Skeletor claiming that the country simply cannot afford to allow railroad workers the right to strike that workers in every other industry enjoy.
To an extent, I understand management's reluctance to agree to this. If you give union employees 15 paid sick days (I assume this is per year?), you can bet that they will take them all, whether they are ever sick or not. In effect, it would be the equivalent of giving them two extra weeks of paid vacation.
As a basic premise, of course management is going to be reluctant to accept any level of paid sick days.
But the way to let management and labor reconcile that particular point is for Congress to not interfere and put its thumb on the scale one way or the other.
Instead, we get the odious hypocrisy of Vodka Skeletor claiming that the country simply cannot afford to allow railroad workers the right to strike that workers in every other industry enjoy.
What would Dagny Taggart do? ;)
Strike anyway.
By "equities", Pelosi means "call options."
“I don’t like going against the ability of unions to strike, but weighing the equities, we must avoid a strike.
That is certainly a plausible explanation for her stance. Perhaps instead of a "Powell Put" the markets will now be pricing in a "Pelosi Put"?