NEWS: Sanders Calls on Warren Buffett to Stand with Striking Steelworkers at West Virginia Company

[Donkees]

https://www.sanders.senate.gov/press-releases/news-sanders-calls-on-warren-buffett-to-stand-with-striking-steelworkers-at-west-virginia-company-owned-by-berkshire-hathaway/


NEWS: Sanders Calls on Warren Buffett to Stand with Striking Steelworkers at West Virginia Company Owned by Berkshire Hathaway
December 30, 2021

In Response, Billionaire Investor Tells Senator He Will Make ‘No Recommendation’

BURLINGTON, Vt., Dec. 30 – Sen. Bernie Sanders (I-Vt.) this week sent a letter to Warren Buffett, Chairman and Chief Executive Officer of Berkshire Hathaway, asking him to intervene in support of 450 steelworkers in West Virginia on strike for a fair contract, wages, and health care at a company owned by the billionaire investor.

On strike for nearly 100 days, the workers at Special Metals in Huntington, West Virginia – a subsidiary of Precision Castparts which is owned by Berkshire Hathaway – produce critically important materials essential to space crafts and airplanes, including military jet engines and commercial aircrafts, as well as submarines and deep-sea oil rigs – making Special Metals’ Huntington facility the largest nickel alloy plant in the world.

“Today, I am personally requesting that you intervene in the negotiations between Steelworkers Local 40 and Precision Castparts to make sure that the workers are treated with dignity and respect and receive a fair contract that rewards the hard work and sacrifices they have made,” Sanders wrote to Buffett. “At a time when this company and Berkshire Hathaway are both doing very well, there is no reason why workers employed by you should be worrying about whether they will be able to feed their children or have health care. There is no reason why the standard of living of these hard working Americans should decline. I know that you and Berkshire Hathaway can do better than that.”

Buffett responded Wednesday to Sanders, saying in his own missive, “I’m passing along your letter to the CEO of Precision Castparts but making no recommendation to him as to any action. He is responsible for his business.”

Special Metals offered a 5-year contract that institutes a very significant cut in real pay when accounting for current inflation. Adding insult to injury, the company has also tried to make major cuts to accrued vacation time and employee health care, almost quadrupling the cost of health care for these workers by increasing the current monthly premium from $275 up to approximately $1,000.

Sanders reminded Buffett that the cuts in employee pay and health care are happening despite his own company doing incredibly well, noting that Buffett himself is worth $108 billion and Berkshire Hathaway is currently sitting on over $150 billion in cash. Buffett has famously pointed out that through tax loopholes he pays less in tax than his secretary.

Read Sanders’ full letter here:
https://www.sanders.senate.gov/wp-content/uploads/Sanders-Letter-to-Buffett.pdf

Read Buffett’s response here:
https://www.sanders.senate.gov/wp-content/uploads/Letter.pdf

[Donkees]

1. 'thank you for supporting us and speaking out for us ...'

thank you for supporting us and speaking out for us. 91 days on the picket line and even our local elected officials remain silent.

Link to tweet

[calguy]

2. Bernie has no jurisdiction over Buffet.

[TheFarseer]

6. I love how some on here

Just have to take the opportunity to shit on Bernie Sanders. Sometimes calling media attention to an issue will help shame the powerful to do the right thing. However, your original point is correct, Bernie Sanders is not the boss of Warren Buffet. That is true.

[calguy]

8. I love how some on here

Are so sensitive they think everyone who doesn't worship Bernie is always trying to shit on Bernie.

No way was I 'shitting' on Bernie. I'm sorry if you had to take it that way.

[TheFarseer]

9. Then why say that?

We all know Warren Buffet is not an employee of Bernie Sanders. Why go out of your way to say trying to pressure someone in charge into doing the right thing is worthless? Why should anyone say anything to someone they are not the direct supervisor of? Just let the powerful do whatever they want and no one ever even say anything? Maybe that would make things better?

I'm just kind of at a loss for words when a politician stands on the picket line and tries to help striking workers, whether it's Bernie or AOC or Nancy Pelosi, and someone on DU has to be cynical about it and snipe at them.

[PTWB]

11. Bernie makes moderates uncomfortable.

When Bernie publicly stands with the people it shines a spotlight on the issues those people are facing. But it also shines a spotlight on all the politicians who are NOT out there on the picket lines, standing with the people.

When was the last time you saw a moderate or corporatist on the picket line?

[TheFarseer]

14. We'll said. nt

[calguy]

12. As I said, I'm sorry if you chose to take it that way

I can't help it if you're that sensitive. The truth is just because an investor like Buffet owns a lot of shares in a company, it doesn't give him authority to run the company or interfere with it's operations.

For Bernie to stand up there and somehow imply that Buffet can make it all better for the union by simply making a phone call is both unrealistic and disingenuous.

For some here who think Buffet should do whatever Bernie says is an example of their own lack of understanding of how things work. Bernie's made a political career using this brand of rhetoric.

[TheFarseer]

13. If Buffet urged the CEO to make concessions

to end the strike, it would be very difficult for him to resist doing so.

[calguy]

15. You live in a fantasy world

Sorry, but there's no other way to put it. I'm not trying to put you down, I'm just saying you're very naive.

[TheFarseer]

16. He's the CEO and largest shareholder

Of the company that owns the company in question and you think he has no input? My God just move on. You sound ridiculous.

[PTWB]

10. We ALL have jurisdiction to ask others to be decent human beings.

[Donkees]

3. CNBC:

Link to tweet

About 450 Special Metals workers in Huntington, W.V. walked out on Oct. 1. Health care is among the biggest issues in the contract talks as the union tries to avoid paying more for a higher deductible insurance plan, United Steelworkers Local 40 President Chad Thompson said Thursday.

Thompson said Sanders’ office reached out to offer help to the striking workers. He spoke to the senator by phone. He added that he appreciates Sanders offering support and hopes the increased attention will help talks advance.

Thompson was disappointed not to reach a deal by Christmas. He said negotiations will restart next week, more than three months into the strike.

“We’re doing whatever we can to try to help us get back to work,” he said, thanking the Huntington community and local unions for their support during the strike.

Precision Castparts did not immediately respond to a request to comment.

In his letter to Buffett, Sanders asked him to “intervene” in the talks to “make sure that the workers are treated with dignity and respect and receive a fair contract that rewards the hard work and sacrifices they have made.”

[Donkees]

4. "There's class warfare, all right, but it's my class, the rich class, that's making war, ...

Warren Buffett: “There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning.”

Bernie Sanders: "If there is going to be class warfare in this country, it's about time the working class won that war."

[TheFarseer]

5. Really interesting

how Warren Buffet will talk about class warfare in a way that is supportive of working people but will never actually help when he is able to do something tangible.

[mahatmakanejeeves]

7. Warren Buffett says he's halfway to giving away most of his fortune

Warren Buffett says he’s halfway to giving away most of his fortune

Last Updated: June 27, 2021 at 9:27 a.m. ET
First Published: June 23, 2021 at 11:24 a.m. ET
By Leslie Albrecht

{snip}

“In 2006, I pledged to distribute all of my Berkshire Hathaway shares — more than 99% of my net worth — to philanthropy. With today’s $4.1 billion distribution, I’m halfway there,” Buffett wrote. Buffett’s current estimated net worth is $104.4 billion, according to Forbes.

He added, “After 16 years of pursuing my philanthropic plan, I’m delighted with its workings.”

‘I am truly grateful for his wisdom’

The Gates Foundation’s share of the $4.1 billion donation Buffett announced Wednesday was more than $3.2 billion, which brings the total amount he’s given to the Gates Foundation to nearly $33 billion, Suzman said. The other foundations that receive funding from Buffett are run by his family members. They are the Susan Thompson Buffett Foundation, the Howard G. Buffett Foundation, the Sherwood Foundation and the NoVo Foundation.

“The impact of his prodigious generosity is hard to quantify,” Suzman said. Buffett’s largesse has helped save millions of lives through the foundation’s work on vaccines and eradicating deadly diseases such as HIV, tuberculosis and malaria, Suzman said, and it has also helped lift millions of people out of poverty.

{snip}

[Donkees]

18. USW Local 40 - All we want for Christmas is a fair deal

Premiered Dec 23, 2021

All our USW Local 40 family at Special Metals in West Virginia wants for Christmas is a fair deal for their hard work