Posted 5 years ago on Oct. 6, 2011, 7:22 p.m. EST by Radical
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Associated Press Obama order averts freight railroad strike By SAM HANANEL , 10.06.11, 06:37 PM EDT
WASHINGTON -- President Barack Obama has created a special board to help resolve a dispute between major U.S. freight railroads and their unions, averting a costly strike for at least 60 days.
Eleven unions representing about 92,000 railway workers have been unable to reach agreement on a new contract with the railroads, including Union Pacific Corp. ( UNP - news - people ), CSX Corp. ( CSX - news - people ) and Burlington Northern Santa Fe ( BNI - news - people ).
EMAIL REPRINT NEWSLETTER SHARE Several of the unions had voted to begin striking at midnight Thursday.
Obama says it is in the national interest to avoid any disruption to the nation's freight rail system that could damage the economy.
The five members that Obama has appointed to the Presidential Emergency Board have 30 days to recommend a settlement. The unions and railroads will then have another 30 days to approve it.