Major U.S. railroads have new tentative agreements with four of the 11 unions needed to avert a potential nationwide strike or lockout in December.
The agreements announced [in mid-November] follow the creation of a Presidential Emergency Board Nov. 5 and a 30-day “cooling off” period that expires Dec. 6.
President Obama created the PEB to establish the cooling off period, allow more time for negotiations and recommend terms to the railroads and unions.