Tuesday, June 25, 2024

Stocks in operation: Bell Canada Corporation, Canadian National

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Alan Binder
Alan Binder
"Alcohol scholar. Twitter lover. Zombieaholic. Hipster-friendly coffee fanatic."

Here is a selection of ads that moved (or will move) the prices of these companies:

(Refer to our reading from time to time
so you don’t miss an update)

Bill Canada: 65% of 4,200 office workers voted in favor of a strike

Unifor members of office workers bell Canada (BCE.TO, $61.93) voted in favor of the strike authorization on Sunday, ahead of negotiations scheduled for this week with the employer. About 4,200 bargaining unit workers live and work in Ontario and Quebec. Unifor says more than two-thirds of members voted, including 65%, in favor of the strike.

Unifor’s National Treasurer, Lana Payne, notes that while workers face a massive rise in the cost of living, Bell’s earnings have skyrocketed. BCE, the parent company of Bell Canada, reported last month that its profit attributable to common shareholders was $877 million for the quarter ended March 31, compared to $642 million a year earlier. Total operating revenue was $5.85 billion, compared to $5.71 billion in the first three months of 2021.

Workers are looking to get the wage increase they want fairly, to continue working from home and to have a working floor. Unifor criticizes Bell for making efforts over the years to reduce the size of the negotiating unit through attrition, contracting, and other forms of erosion.

The two parties are scheduled to meet with a federal conciliator starting Monday. The previous collective agreement expired on November 30, 2021.

CN: 750 Canadian workers have gone on strike since Saturday morning

About 750 employees of the Canadian National Railways Canadian National (CNR.TO, $140.89), has been on strike since Saturday morning according to their union, the International Brotherhood of Electrical Workers (IBEW).

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The management of the Montreal-based rail company confirmed last week that it will be able to safely continue normal operations, for as long as necessary. Strikers perform tasks related to communication and signals.

The union’s CN administration is calling for wage and benefits disputes to be resolved through binding arbitration.

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