The CEO of Precision Castparts, Mark Donegan, met with Warren Buffet at the Precision Castparts booth in the exhibit hall during the annual shareholders meeting of his company.
Warren Buffet told Sen. Bernie sanders that he wouldn't intervene in the strike at the company owned by his firm.
The United Steelworkers Local 40 and West Virginia-based Special Metals are in talks. Special Metals is owned by a subsidiary of Precision Castparts.
In a letter dated Tuesday and released by the Vermont independent on Thursday, the billionaire investor said he wouldn't be involved in the labor negotiations. He said that the policy of letting its companies deal individually with their own labor and personnel decisions was the reason for it.
In his letter to the CEO of Precision Castparts, Buffett said he was passing along your letter but making no recommendation to him as to any action. He is in charge of his business.
The Special Metals workers walked out. Workers are trying to stave off possible pay cuts and health-insurance cost hikes as contract talks drag into the year 2022.
The United Steelworkers Local 40 and Precision Castparts did not respond to questions.
In his letter to the billionaire, the socialist asked him to intervene in the talks to make sure that the workers are treated with dignity and respect and receive a fair contract.
At a time when this company is doing very well, there is no reason why workers should be worried about whether they will be able to feed their children or have health care. The standard of living of hard working Americans should not decline. I know that you and the company can do better.
In recent years, the labor advocate has put his weight behind strikes and union drives. He joined the striking workers at Kellogg's in Michigan.
One of the 10 wealthiest people in the U.S., Warren Buffet, has not been as frequently targeted by the left as his peers.
In his letter to Buffett, the senator said that the CEO had spoken out on the crisis of growing income and wealth inequality in the country.
You can subscribe to CNBC on the internet.
