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TEAMSTERS DEMONSTRATE AT MERRILL LYNCH OFFICES; WORKERS PROTEST WORKING CONDITIONS AND STALLED NEGOTIATIONS AT PONY EXPRESS/MERRILL LYNCH

 WASHINGTON, Oct. 28 /PRNewswire/ -- The International Brotherhood of Teamsters issued the following:
 Merrill Lynch & Company (NYSE: MER), the owners of Pony Express Courier Corporation, was the target of a nationwide worker protest today organized by the International Brotherhood of Teamsters. Pony Express workers demonstrated in front of Merrill Lynch buildings in over 10 cities to show their outrage over the company's poor working conditions and compensation policies and its failure to negotiate a national contract. The Teamsters represents most of the 3,500 Pony Express drivers.
 "Workers have been slapped in the face by Pony Express management. Over the past year, Pony Express has obstructed and delayed collective bargaining sessions and has refused to discuss a national contract," said Teamster President Ron Carey. "Drivers are forced to work demanding and dangerous routes for near minimum wage, no holidays, no health insurance and no pension."
 Merrill Lynch was targeted for demonstration because it owns Pony's parent company, Borg-Warner Security (NYSE: BOR). "This financial giant must be educated to the injustices going on at Pony," said Carey. Merrill Lynch acquired Borg-Warner in 1987 for $4.2 billion and moved the company heavily into guard services and couriers. Pony Express, with 8,000 employees, is one of the company's top money earners.
 Merrill Lynch, which reported a net income of $696 million for 1991, has been putting the squeeze on Borg-Warner and Pony Express urging them to keep wages down and profits up.
 "Although profitable, Pony continues to decrease its operating costs on the back of its workers," said Carey. "Pony keeps drivers at the bottom of the pay scale and continues to cut benefits and move into an owner-operator system with drivers. Under this arrangement, drivers use their own vehicles which are rarely commercially licensed. It also subjects drivers to speedups and increasingly stressful situations.
 "Merrill Lynch has financial responsibility for the actions of its subsidiary. It's up to them to take the necessary steps to bring Pony management to the bargaining table and sign a contract that offers the drivers a fair compensation package and better working conditions," said Carey.
 Over the past year, Pony drivers have voted overwhelmingly for Teamster representation based upon the union's long history of raising wages and improving conditions in the package delivery and transportation industry.
 -0- 10/28/93
 /CONTACT: Scott Treibitz for the Teamsters, 703-276-2772/
 (MER BOR)


CO: International Brotherhood of Teamsters; Merrill Lynch & Company;
 Pony Express Courier Corporation ST: District of Columbia IN: SU:


DT-DC -- DC024 -- 8023 10/28/93 14:20 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
Words:420
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