The FINANCIAL -- WASHINGTON – Today, President Barack Obama signed an Executive Order creating a Presidential Emergency Board to help resolve an ongoing dispute between major freight rail carriers and their unions.

President Obama said, “Freight rail is vital to our economy and our future.  It’s in our national interest to make sure our freight rail system runs smoothly, since a disruption could affect businesses across the country and cause unnecessary damage to our already-fragile economy.  These dedicated individuals have a wealth of experience and talent addressing and resolving labor-management disputes.  I’m grateful they have agreed to serve in this capacity, and I trust them to work toward a swift and smooth resolution of these outstanding contracts.”

The Presidential Emergency Board will provide a structure for the two sides to resolve their disagreements.  The Presidential Emergency Board will hear evidence and, within 30 days, will deliver a report to the President recommending how the dispute should be resolved.

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