(BRK.A), (BRK.B)
After many years of labor disputes that dogged Berkshire Hathaway’s NetJets, the fractional jet ownership company seems to have finally put its labor troubles behind it.
In 2015, NetJets reached new agreements with its pilots and flight attendants after years of picketing.
Now, the negotiating team comprised of Teamsters Airline Division representatives, Teamsters Local 284 business agent and rank and file committee members for the NetJets Technicians and Related Group have reached an “agreement in principle” to amend their current collective bargaining agreement with NetJets.
The negotiations, which began in February of 2012, have been successfully concluded, according to the Teamsters.
“I am pleased with the ability of the union negotiators and NetJets to work cooperatively to reach a mutually satisfactory ‘agreement in principle,'” said Captain David Bourne, Director of the Teamsters Airline Division.
The Teamsters and NetJets are working to finalize the contract language that will result in a tentative agreement, which will then be put before the membership for a ratification vote.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.