Rail unions want railroads to take some of the billions they're using every year to buy back their stock and spend it to improve safety in the wake of several high-profile derailments and hire more workers.
keeping up with shipping demand highlight their concerns about how overwhelmed workers have become after extensive job cuts. They say inspections are being rushed with workers getting maybe a minute to check out each rail car and preventative maintenance may be neglected.and insist that cost cuts haven't made their operations riskier.
“Any suggestion that railroads fail to invest appropriately, and that this in turn is related to a negative safety record, is categorically false," AAR spokesman Ted Greener said.“The first dollar we generate and spend goes to either the employees or our railroad,” Fritz said. “We have a great track record in terms of investment in the railroad and it’s actually in some of the best condition I’ve ever seen it and it’s ever been in.
And investors expect to be compensated for putting their money into a company, said Charles Elson, who founded a corporate governance center at the University of Delaware.
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