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Tesoro Corporation Message Board

  • jimturner54321 jimturner54321 Feb 28, 2012 1:40 PM Flag

    TSO said it had not received a strike notice from the union.

    HOUSTON (MarketWatch) -- Union workers at the Tesoro Corp. TSO -2.33% refinery in Mandan, N.D., voted to reject a three-year labor agreement, the company said Tuesday.

    All five of Tesoro's refineries set to renew contracts have now rejected it because of provisions that would allow Tesoro to change workers' benefits without bargaining with the union. Representatives of the United Steelworkers and Tesoro management will continue to negotiate over the coming weeks, Steelworkers national spokeswoman Lynne Hancock said.

    "Should ratification not occur, we are prepared to activate our contingency plans," Tesoro spokeswoman Tine Barbee said.

    No deadline was given for ratification of the contracts. Tesoro declined to detail its contigency plans.

    The Steelworkers accepted a preliminary labor agreement reached on Jan. 31 with Shell Oil, the U.S. arm of Royal Dutch Shell PLC and lead negotiator for the refining industry. The national agreement, covering workers at 69 refineries with a combined 6.42 million barrels a day of refining capacity, must be ratified at each site and will include local issues.

    Tesoro said it had not received a strike notice from the union. Any possible labor stoppages occuring at Tesoro's refineries wouldn't spread to other those operated by other companies, Hancock said.

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    • DUMP TSO today or you will be VERY sorry.
      By them back in Mid April when its under $17 bucks due to the prolonged shutdown of Martinez.
      Sell TSO and buy Chevron or Valero, buy back TSO after they settle with the USW or after the stock is under 17 (whichever comes first) While they are robbing and battling their own employees, be extremely cautious. Tesoro shut down will be very profitable for other refiners but horrible for current stock holders of TSO. Union Busting is a Dangerous Manuever Proceed with EXTREME CAUTION Will it work to the advantage in the long haul... Maybe But it will be terrible for everyone especially stock holder for the short to midterm. SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL

    • In california the Martinez plant will be forced to shut down. It's their real money maker, but the county there, will not let them run that plant with replacement workers. The stock is gonna drop like a rock . the amount of profits, and earnings they will lose will be massive! Sell or lose BIG. UNION BUSTING is a very risky manuever
      SELL SELL SELL SELL SELL SELL SELL OR LOSE BIG

 
TSO
57.23-0.92(-1.58%)Jul 21 4:00 PMEDT

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