Airline Unions Expect Boost From Obama
CHARLOTTE, N.C. -- The election of Barack Obama as president will likely mean a series of changes for the airline industry, and organized labor groups may well be the first beneficiary of the new administration.
One of Obama's early moves will likely be the appointment of a Democrat to the National Mediation Board, the agency that works to ensure management and union workers in the railroad and airline sectors get along.
Initially, "the most important thing will be the NMB appointment of someone who will treat the Railway Labor Act with a little more balance," says Duane Woerth, former president of the Air Line Pilots Association and now senior vice president of airline advertising firm Sojurn Inc. "I don't care if it's organizing drives, negotiations, or a quicker release from negotiations, there's probably no more important appointment for labor than who is on the NMB."
The three-member board historically has two members from the president's party. Obama will probably replace Read Van de Water, the current NMB chairman, who was appointed by President Bush in 2003.Further out, Obama is expected to move ahead on an upgrade of the nation's air traffic-control system, which is supported throughout the industry. And, given his strong labor support, his election will likely further delay any move toward easing restrictions on foreign ownership of U.S. airlines. The NMB appointment could also impact the industry's next big labor battle, the effort to unionize various groups at Delta (DAL), which will integrate its workforce with Northwest's over the next two years following their recently completed merger.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV