This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Funeral Giant SCI Refuses Interest Arbitration To End Five-Month Labor Dispute

Corporate Bully Turns Down Teamsters' Offer to Return to Work

CHICAGO, Dec. 12, 2013 /PRNewswire-USNewswire/ -- Funeral industry giant Service Corporation International (NYSE:SCI) refused an interest arbitration offer made by the Teamsters to end a five-month lockout of Chicago funeral directors and drivers.


SCI, which operates under the Dignity Memorial brand name, rejected the arbitration deal after turning down an unconditional offer to return to work made by Teamsters Local 727 in September. The lockout affects 59 funeral directors and livery drivers at 16 Dignity Memorial funeral homes.

"SCI has spent six months telling the public that its final contract offer to these dedicated employees is fair and generous. If that is true, then the company should have no problem letting an impartial third party decide," said John T. Coli, Secretary-Treasurer of Teamsters Local 727. "All along, the union has remained willing to continue negotiating, and now we are simply asking that company agree to interest arbitration so these men and women can go back to work immediately."

The 59 funeral employees were forced to strike on July 2 after SCI refused to bargain over a new contract in good faith with the Teamsters. More than 23 weeks later, SCI continues to insist on slashing union-sponsored health insurance and pension benefits. When negotiations began in June, the $4 billion company based in Houston proposed nearly 40 regressive changes to the union contract, despite seeing SCI's stock rise 94 percent in the last two years alone.

The Teamsters made an unconditional offer to return to work on Aug. 19, but SCI chose to lock out employees instead. In the Chicago area, the corporation owns and operates 16 funeral homes under the Dignity Memorial brand name.

"SCI would rather see its longtime employees literally out in the cold than serving grieving families," Coli said. "The company has the power to end this lockout today, and we are calling on SCI to do the right thing for our members and our communities."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs