Warren Buffett tells Bernie Sanders he won’t intervene in Special Metals strike
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Warren Buffett (R), talks to Mark Donegan CEO Precision Castparts at the Precision Castparts Booth in the exhibit hall at the Berkshire Hathaway Annual Shareholders Meeting held at the CenturyLink Center, Omaha, Nebraska on April 30, 2016.
Ryan Henriksen | Reuters
Warren BuffettHis firm will not intervene during a strike by steelworkers at his company Berkshire HathawayHe said that Sen. Bernie SandersThis week.
Sanders wrote Tuesday to Buffett, asking him to participate in negotiations between United Steelworkers Local 40 (West Virginia) and Special Metals (West Virginia). Special Metals are owned by Precision Castparts (a subsidiary of Buffett’s conglomerate).
Buffett stated to the Vermont independent in a Wednesday letter, which was published by Sanders’ office and made public on Thursday that he will not intervene in the labor negotiations. Berkshire has a policy where its employees “deal independently with their labor and personnel decisions,” he stated.
Buffett sent the following: “I am passing on your letter to Precision Castparts CEO, but not making any recommendation as to what he should do.” He is accountable for his company.
Huntington, W.Va. has approximately 450 Special Metals workers On Oct. 1, workers walked out. Talks over contract negotiations will continue into 2022, as workers seek to avoid potential pay cuts and increase in their health-insurance premiums.
United Steelworkers Local 40, and Precision Castparts didn’t immediately respond to our requests for comment.
Sanders asked Buffett to help him in his letter. He wanted to make sure the workers received dignity and respect, and a fair contract to reward their sacrifices and hard work.
The senator stated that workers at Berkshire Hathaway and this company are doing well. There is no reason to worry about their ability to provide for their families or get health care. There is no reason for the standard of life of hardworking Americans to drop. Berkshire Hathaway and I can achieve better results than this, I am sure.”
Sanders is a labor advocate who has supported numerous strikes and union drives over the past few years. He rallied for striking workers most recently. Kellogg’sMichigan workers this month
Buffett, one the most important. 10 wealthiest people in the U.S.Sanders hasn’t been as frequent of a target as Elon Musk and Jeff Bezos, however.
Sanders wrote to Buffett a note noting that Buffett’s Berkshire CEO had “spoken out elegantly about the crisis our nation is currently facing in terms of increasing income inequality and wealth inequality.”
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