Index – Economy – Bernie Sanders joined Warren Buffett

Index – Economy – Bernie Sanders joined Warren Buffett
Index – Economy – Bernie Sanders joined Warren Buffett

Warren Buffett, currently the ninth richest man in the world, said it was not his job to settle the strike of 450 steel workers working for the company he owned.

U.S. Senator Bernie Sanders wrote a letter to the CEO of Berkshire Hathaway asking him to intervene in the Special Metals strike, which had been going on for three months. The company is part of Precision Castparts and is owned by Warren Buffett Berkshire Hathaway.

“When a company is performing very well, there is no reason for the employees you employ to worry about being fed do they know a their children or whether they can receive health care, ”wrote Bernie Sanders.

The senator called the case “outrageous and offensive,” according to his letter, employees were only offered a $ 2,000 signing bonus, but no pay raise was offered in their first-year contract. A 1 percent pay rise was recorded in the second year and a 2 percent pay rise in the next three years.

Warren Buffett said in a later response that the management of different companies is entrusted to separate executives, whose companies handle their workforce decisions individually. He added that although the senator would forward the letter to the competent leader, he did not propose any action.

The case received special attention because, unlike many other billionaires in the country, Warren Buffett has always spoken with concern about income inequalities in the country: he has called for a higher tax on the rich and even promised to donate much of his wealth.

By the way, Berkshire Hathaway acquired Precision Castparts in 2016 for $ 37.2 billion. Berkshire reported that Precision Castparts closed with $ 1.6 billion in revenue in the third quarter and profit up $ 217 million in the third quarter of 2020.

Precision Castparts ’communications department has issued a statement saying the company wants to re-establish a respectful and fruitful relationship with its employees, and they have done so before. The company will continue to bargain with the union, but the company did not want to answer questions about the offer to the union and comment on the consequences of the continuing strikes.

(Via CNN)

(Cover photo: Bernie Sanders, December 17, 2021. Photo: SETH HERALD / AFP)

 
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