"During the busiest shipping and travel period of the year, a nationwide disruption of rail service would deal a crushing blow to our nation's economy, potentially costing our country $2 billion a day," A. Kenneth Gradia, the railroads' bargaining representative, said in a statement.
Although there's still a possibility of some 52,800 union employees striking, the market appears to be confident that a deal will be reached.
The remaining Class I public stocks were relatively flat on Thursday: CSX (CSX) closed at $21.73, up 2 cents, or 0.1%; Union Pacific (UNP) was at $102.93, down 48 cents, or 0.5%; Canadian National (CNI) slid to $77.27, down 29 cents, or 0.4%; Canadian Pacific (CP) finished at $60.29, up 11 cents, or 0.2%.
"The stocks are telling you that nothing's going to happen," a rail analyst said.-- Written by Joe Deaux in New York. >Contact by Email. >Follow Joe Deaux on Twitter. Subscribe on Facebook.
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