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☆ ISS says unions and pension funds should back Norfolk Southern activist investor
▼ + stars: | 2024-05-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Norfolk Southern Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled "Improving Rail Safety in Response to the East Palestine Derailment" in Washington, U.S., March 22, 2023. Norfolk Southern -invested unions and pension funds should back activist Ancora's full seven-director slate at the railroad's shareholder meeting later this month, two different Institutional Shareholder Services proxy advisory services said. Neuberger Berman said earlier that it would support Ancora's case for change at Norfolk Southern, while Canadian asset manager EdgePoint also reaffirmed on Thursday that it would be voting its shares with the activist. (EdgePoint was initially partnered with Ancora's campaign at Norfolk Southern but dissolved that arrangement months earlier.) Top institutional shareholders include Vanguard, BlackRock, State Street and Dodge & Cox, as well as California's pension funds, CalPERS and CalSTRS, and Colorado's public pension fund.

Persons: Alan Shaw, Ancora's, Taft, Jim Barber, Glass Lewis, Barber, investor's, Ancora, Neuberger Berman, EdgePoint Organizations: Norfolk Southern, Commerce, Science, Institutional, Hartley Advisory Services, Social Advisory Services, CNBC, UPS, ISS, Norfolk Southern's, Norfolk, Vanguard, Dodge, Cox Locations: East Palestine, Washington , U.S, Norfolk, East Palestine , Ohio, BlackRock

☆ Glass Lewis endorses 6 of activist Ancora's nominees for Norfolk Southern board
▼ + stars: | 2024-04-29 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Activist investor Ancora received a powerful endorsement in its efforts to secure a board change and to oust Norfolk Southern CEO Alan Shaw on Monday, when proxy advisor Glass Lewis recommended the railroad's shareholders vote for 6 of Ancora's board nominees. "We believe Ancora has presented a compelling case for supporting a substantial overhaul of the Company's current leadership," Glass Lewis said in its report. Furthermore, Glass Lewis said Barber, Ancora's pick for CEO, and Jamie Boychuk, the activist's pick for COO, "have compelling credentials and track records." Ancora also seeks to install former CSX executive Boychuk as Barber's chief operating officer. Their support, coupled with Glass Lewis' endorsement, gives the activist powerful ammunition as it seeks to convince shareholders.

Persons: Ancora, Alan Shaw, Glass Lewis, Betsy Akins, Jim Barber, William Clyburn, Sameh Fahmy, Gilbert Lamphere, Allison Landry, Shaw, Amy Miles, Barber, Ancora's, Jamie Boychuk, Boychuk, John Orr Organizations: Norfolk Southern, Teamster, UPS, CNBC, CSX, Canadian National, CN, NSC, Norfolk Locations: Norfolk Southern, East Palestine , Ohio, Norfolk

☆ Activist Ancora endorsed by second Norfolk Southern union in proxy contest
▼ + stars: | 2024-04-26 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

A second Norfolk Southern union said Friday it would back activist Ancora's efforts to elect seven directors and oust CEO Alan Shaw, a sign of labor dissatisfaction with management and a key endorsement for Ancora as Norfolk Southern's shareholder meeting nears. The BLET Teamsters, which represents the engineers and trainsmen who operate Norfolk Southern's locomotives, said Friday they're throwing their weight behind Ancora. "It's a privilege to receive support from the BLET Teamsters, who believe in our plan to improve performance, safety and employee relations at Norfolk Southern," Barber said. The latest endorsement, coupled with the support of the BMWED Teamsters earlier this week, means roughly half of NSC's unionized employees are supporting the activist, Ancora said. "We recognize the hard work that the BLET Teamsters members and all of the Company's employees put in every day," Boychuk said.

Persons: Alan Shaw, John Orr, Edward Hall, Jim Barber, Jamie Boychuk, Barber, Ancora, Boychuk Organizations: Norfolk Southern, Teamsters, NS, BLET Teamsters, Norfolk, Ancora . Norfolk Southern Locations: Ancora, Norfolk, Ancora . Norfolk

☆ Teamsters union endorses activist Ancora in Norfolk Southern proxy fight
▼ + stars: | 2024-04-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor's efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad's 13-person board. The labor group said it would back the activist's seven director nominees over Norfolk Southern management, a significant endorsement in an industry unusually dependent on union support. The support from the BMWED Teamsters, whose members build and maintain the track infrastructure that keeps Norfolk Southern trains moving, amounts to a sharp rebuke of Shaw and Norfolk Southern's board. Norfolk Southern and Ancora have been locked in a proxy contest for several months. Neuberger Berman, for example, is backing the activist and said that Norfolk Southern had a history of poor governance and that a boardroom change was needed.

Persons: Ancora, Alan Shaw, Shaw, Tony Cardwell, Cardwell, Jim Barber, Jamie Boychuk, Boychuk, Barber, It's, John Orr, Glass Lewis, Neuberger Berman Organizations: Thursday, Teamsters, Norfolk Southern, Norfolk, BMWED Teamsters, Labor, American Federation of Labor, Industrial Organizations, CSX, Ancora Locations: Norfolk Southern, Norfolk, U.S, East Palestine , Ohio, Washington

☆ Election Updates: New York is the center of political attention again today, with Biden and Trump in the state.
▼ + stars: | 2024-04-25 | by ( Chris Cameron | ) www.nytimes.com time to read: +4 min

Mr. Trump has not held a rally since just before the trial began, in part because a planned event in North Carolina last weekend was canceled because of weather. “I have a lot of support here,” Mr. Trump said, as roughly two dozen workers clambered up scaffolding and equipment to catch a glimpse of him. Among those in the crowd were members of the Teamsters union, whose endorsement Mr. Trump has been courting. The trip to the construction site kicks off what will be a significant day in Mr. Trump’s legal battles. Mr. Trump has said without citing evidence that the charges are part of an “election interference” scheme orchestrated by Mr. Biden.

Persons: Donald J, Trump, ” Mr, David Pecker, Pecker, ”, “, Mr, Biden, Jason Miller, Mr . Biden Organizations: Teamsters, National Enquirer, White, Mr, Teamsters union’s, Unions, Trump Locations: Manhattan, North Carolina, New York, Washington

☆ Starbucks resumes bargaining with union after two sides thaw relationship
▼ + stars: | 2024-04-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents. Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities. Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify. Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does. Starbucks could share more about the union negotiations during its quarterly earnings call.

Organizations: Starbucks, Workers United, National Labor Relations Board, Service Employees International Union, NLRB, International Brotherhood of Teamsters Locations: U.S, Pittsburgh, Memphis

☆ NABTU: Biden scores major union backing as its leaders attack Trump
▼ + stars: | 2024-04-23 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +8 min

CNN —Joe Biden landed a major union endorsement Wednesday from North America’s Building Trades Unions, whose leaders say the president has his infrastructure bill largely to thank for it. The backing from NABTU, which has 3 million members nationwide, is more enthusiastic than its 2020 backing of Biden. That’s raised questions about the political future of the next generation of union members. It’s “almost like the perfect leader was sent at the perfect time for working people,” NABTU President Sean McGarvey told CNN about Biden in an interview announcing the endorsement. Biden appeared at the union’s conference in Washington on Wednesday to officially get the nod – which union leaders also want to be seen as a stark rebuff of Trump, who eagerly solicited support from union members and leaders during his time in office, but, their leaders say, didn’t deliver.

Persons: CNN — Joe Biden, Biden, Donald Trump, That’s, It’s, ”, Sean McGarvey, Trump, NABTU, ” Biden, “, ” “, Joe Biden, Elizabeth Frantz, Biden’s, McGarvey, ” McGarvey, it’s, Trump’s, Sean, “ Donald Trump, ” Brent Booker, Booker, ” Booker, didn’t, Julie Chavez Rodriguez, “ Biden, he’s, Mitch Landrieu, ” Landrieu, CNN’s Michael Williams Organizations: CNN, Unions, Teamsters, Republican, Democratic, Biden, Trump, Covid, North, Washington Hilton, ’ International Union of Locations: America’s, Pennsylvania, Michigan, Wisconsin, NABTU, Washington, Washington ,, Chicago, ’ International Union of North America

☆ UPS profit beats estimates as cost cuts offset weak delivery demand
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

United Parcel Service's (UPS) newly launched electric delivery truck is seen in Compton, California, U.S., September 13, 2023. United Parcel Service reported first-quarter profit above estimates on Tuesday as cost cuts partly offset subdued demand for small-package delivery, sending its shares up 3.5% premarket. UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". UPS recently secured the contract to provide Priority Mail and other speedy services for the U.S. Its revenue of $21.71 billion was below estimates of $21.86 billion.

Organizations: United Parcel Service, UPS, Teamsters, U.S . Postal Service, FedEx Locations: Compton , California, U.S, Atlanta

☆ TV and film jobs may never fully recover post-pandemic, strikes, says Teamsters president
▼ + stars: | 2024-04-19 | by ( Gili Malinsky | ) www.cnbc.com time to read: +4 min

Jobseekers interested in breaking into the film and television industry may have a harder time this year and even in the coming years. The summit covered the media's job landscape at large and how educators can create pathways for young people in it. It's part of Reel Works, an organization that offers an assortment of educational and training programs in the field for underserved youth. U.S. film studios will see a 14% year-over-year decline in content investment in 2024 as a result of the 2023 strikes and the changing film market post pandemic, according to analytics company Ampere Analysis. Ampere also found that the number of scripted TV releases in the US fell from 633 in 2022 and 2021 to 481 in 2023.

Persons: Jobseekers, Tommy O'Donnell, O'Donnell, John Gibson, Kwame Amoaku, David Haddad, Irene Phan, Ampere, we've Organizations: Theatrical Teamsters, Paramount Global, Works, Motion, Association, Haddad's Inc, MBS, CNBC, Writers Guild of America, Screen, American Federation of Television, Radio Artists, Otis College of Art, City, Teamsters, International Alliance, Employees, Ampere, Ampere Analysis Locations: York, Greater Los Angeles, Los Angeles, City and County, New York, U.S

☆ Union households tend to have over $100,000 more in wealth than nonunion families, Federal Reserve data shows
▼ + stars: | 2024-03-21 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

The Center for American Progress, a left-leaning think tank, looked at just how much better union workers are faring. By analyzing the Federal Reserve's Survey of Consumer Finances, CAP found that in 2022, union households held $338,482 in median wealth. Black, nonunion households have a median household wealth of $61,500; meanwhile, Black union households hold around $164,6000 in median household wealth. Union membership rates have declined for decades, reaching a record low of 10% in 2023. The researcher VanHeuvelen previously told BI that the decline in union membership would be like if the wage premium for going to college disappeared.

Persons: it's, Zachary Parolin, Tom VanHeuvelen, VanHeuvelen Organizations: Service, American Progress, Reserve's Survey, Consumer Finances, CAP, Business, Bureau of Labor Statistics, Labor Statistics, of Labor Statistics, Research, Bocconi University, University of Minnesota Twin Cities, Workers, —, United Auto Workers, UPS Teamsters, SAG Locations: United States

WASHINGTON (AP) — President Joe Biden is coming out in opposition to the planned sale of U.S. Steel to Nippon Steel of Japan, saying in a statement to be released Thursday that the U.S. needs to "maintain strong American steel companies powered by American steel workers.”In a statement obtained in advance by The Associated Press, Biden adds: “U.S. Steel has been an iconic American steel company for more than a century, and it is vital for it to remain an American steel company that is domestically owned and operated." Thursday's announcement, coming as Biden is campaigning in the Midwest, could have ripples in his race against the GOP presumptive nominee, Donald Trump. Nippon Steel announced in December that it planned to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. More than half the steel produced globally comes from China, according to the World Steel Association.

Persons: Joe Biden, Biden, Donald Trump, Trump, Fumio Kishida, Jill Colvin Organizations: WASHINGTON, Steel, Nippon Steel of, Associated Press, GOP, Democratic, AFL, Nippon Steel, Pittsburgh, Foreign Investment, Teamsters, U.S . Steel, Japan, Trump, Biden, United Steelworkers, Nippon, White, World Steel Association . India Locations: U.S, Nippon Steel of Japan, American, Midwest, United States, Saginaw , Michigan, Pennsylvania, Japan, Asia, China

☆ How Biden hopes to recapture voters scarred by inflation
▼ + stars: | 2024-03-12 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +14 min

A majority of Hispanics, and even a plurality of Black voters, said Biden’s policies would cause inflation to rise, the survey found. You can’t not make the contrast and comparison.”These negative retrospective assessments of the Biden and Trump economic records create huge headwinds for the president. “Voters—even past Biden voters who disapprove of his economic record—clearly reject what Trump and Republicans are offering,” Democratic pollster Margie Omero said in an email. After voters were exposed to Biden’s populist arguments, assessments of his economic record improved in the group’s polling, Clark said. But even after hearing that case, most voters in the group’s surveys still gave Biden negative marks for his economic performance, the study found.

Persons: Joe Biden, Donald Trump, Trump, Biden, Biden –, “, ”, Danielle Deiseroth, West Virginia Sen, Joe Manchin, Shawn Fain, Evelyn Hockstein, Adam Green, Michael Tyler, Republican pollster Micah Roberts, It’s, Jim McLaughlin, ” McLaughlin, Roberts, ” Roberts, can’t, ” Tyler, Margie Omero, ’, Bobby Clark, Clark Organizations: CNN, GOP, Trump, Teamsters, Democratic, ACA, West, United Auto Workers, Biden, CNBC, Social Security, Republican, White, NBC News, New York Times, Siena College, CBS, Union, “ Locations: Wisconsin, Michigan, Belleville , Michigan, Scranton , Pennsylvania, Democratic, State, Biden’s

☆ The Princess of Wales is in the spotlight — for not being in the spotlight
▼ + stars: | 2024-03-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the curious case of Kate Middleton's edited photo that's got the internet buzzing. The big storyPrincess problemsChris Jackson/Getty Images; Ian Vogler - WPA Pool/Getty Images; Chelsea Jia Feng/BIA picture is worth a thousand words. AdvertisementBut this time around, it's the Princess of Wales in the spotlight… for not being in the spotlight. She explained away the issue by saying she does "occasionally experiment with editing," but plenty of people weren't buying it .

Persons: —, we've, Kate Middleton's, that's, Chris Jackson, Ian Vogler, Chelsea Jia Feng, hasn't, Prince Andrew , Duke, York, Prince Harry, Meghan Markle, Duke, Duchess of Sussex, Wales, Kate, Insider's Kwan Wei Kevin Tan, Mikhaila Friel, Kensington, Kensington Palance, Patrick Witty's, Patrick, Kate Middleton, King Charles, Mikhaila, Easter, Katie Notopoulos, BI's Hasan Chowdhury, Beatrice Nolan, Chris Gash, Stephanie Pomboy, Max, Aravind Srinivas, Nvidia's, Artur Debat, Eric Boyd, Joe Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Royals, JPMorgan, Anadolu, Apple, Meta, New York Times, Tesla, Microsoft, OpenAI, International Brotherhood of Teamsters Locations: London, Kensington, British, China, Georgia , Mississippi, Washington, New York

☆ Biden meets with Teamsters leaders as he seeks crucial union endorsement
▼ + stars: | 2024-03-12 | by ( Michael Williams | Donald Judd | ) edition.cnn.com time to read: +3 min

Washington CNN —President Joe Biden met on Tuesday with leaders from the International Brotherhood of Teamsters as he tries to court the crucial union vote ahead of November. Biden is competing with former President Donald Trump for a Teamsters endorsement. Biden has already received one critical union endorsement: the United Auto Workers backed him during their Washington meeting in January. Biden has long presented himself as “the most pro-union president ever,” but an endorsement from union leadership doesn’t necessarily translate into support from rank-and-file members. Trump met with Teamsters leader Sean O’Brien at Mar-a-Lago late last year as well.

Persons: Joe Biden, Biden, Donald Trump, “, ” Trump, Hillary Clinton, Trump, Shawn Fain, “ Joe Biden, ” Fain, ”, Sean O’Brien Organizations: Washington CNN, International Brotherhood of Teamsters, Teamsters, ”, Social Security, Trump, Biden, United Auto Workers, UAW, State, Union, CNN, WGA, Anheuser, Busch, Republican National Committee, Democratic National Committee, FEC, Lago Locations: Michigan , Wisconsin, Pennsylvania, Washington, Michigan, Mar

☆ Opinion: Oscars highlights from our culture critics
▼ + stars: | 2024-03-11 | by ( Cnn Opinion | ) edition.cnn.com time to read: +18 min

CNN —Five CNN Opinion culture critics share their takeaways from the 96th Academy Awards. Gene Seymour: Hollywood’s next existential questionMost of the big, expensive movies walked away with Oscars Sunday night. Ryan Gosling performs the song "I'm Just Ken" from the movie "Barbie" during the Oscars on Sunday. Rita Moreno delivered a spicy ode to best supporting actress nominee America Ferrera, noting that her monologue from “Barbie” was one of the most memorable film moments. And the winners are... Robert Downey Jr. for best supporting actor in "Oppenheimer; Da'Vine Joy Randolph for best supporting actress in "The Holdovers"; Emma Stone for best actress in "Poor Things" and Cillian Murphy for best actor in "Oppenheimer."

Persons: Gene Seymour, Hollywood’s, Gene Seymour Jeremy Freeman, CNN Cord Jefferson, ” Jefferson, Jefferson, “, ” Cord Jefferson, Kevin Winter, “ Oppenheimer, Christopher Nolan, Cillian Murphy, Robert Downey Jr, “ Barbie, ”, Billie Eilish, O’Connell, “ Barbie ”, George Lucas, Steven Spielberg, Mark Harris, Sara Stewart, Barbie ”, Sara Stewart Todd Thompson, Ryan Gosling’s, “ I’m, Ken, Finneas O’Connell, Oscar, Eilish –, –, ” Eilish, “ Oppenheimer ”, Greta Gerwig’s, Gerwig, Margot Robbie, Jimmy Kimmel’s, “ Barbie ” snubs, Ryan Gosling, Chris Pizzello, Gosling –, snubs –, Eilish, Rita Moreno, America Ferrera, Jeff Yang, they’ve, Jack Palance, Seth McFarlane, Chris Rock, Warren Beatty, Faye Dunaway, they’d, ” Will Smith, Jada Pinkett Smith, Jimmy Kimmel, Catherine O’Hara, Michael Keaton, Twinsies Arnold Schwarzenegger, Danny DeVito, Melissa McCarthy, Octavia Spencer, Dale, Cord Jefferson, Finneas O'Connell, Barbie, Mike Blake, Kimmel, Donald Trump, Al Pacino, Pacino, — “ Oppenheimer, Celine Song, Bruce ”, ” Noah Berlatsky, Lily Gladstone, Noah Berlatsky Noah Berlatsky, Mollie Burkhart, Emma Stone, Cord Jefferson’s, Joy Randolph’s, Justine Triet’s, Randolph, Gladstone, Martin Scorsese’s, Burkhart, Ernest, Leonardo DiCaprio, Scorsese, she’s, DiCaprio, Robert DeNiro, Emma Stone’s, Bella, Noah Berlatsky, Holly Thomas, isn’t Robert Downey Jr, It’s, ” Holly Thomas Holly Thomas, Brett Easton Ellis’s, Timothee Chalamet, Austin Butler, Florence Pugh, Downey Jr, Tony Stark, Downey, Oppenheimer, Da'Vine Joy Randolph, Arturo Holmes, Louis Strauss, Katie Couric Organizations: CNN —, CNN, Warner Bros ., Hollywood, New York, The New York Times, Newsday, Entertainment, The Washington, Twitter, Abbott, Disney, Reuters, Teamsters, International Alliance, Employees, Globe, The, “, Downey, North, Katie Couric Media Locations: Pennsylvania, La, Asian America, America, Osage Nation of Oklahoma, Chicago, ”, Zendaya, North America, London

☆ Private-equity and VC investors look to sports, AI, and live events as the era of peak TV draws to a close
▼ + stars: | 2024-03-07 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

That was a far steeper decline than the overall venture funding market, which declined 38% in 2023, the report said. (The report was based on data from Crunchbase, which Alignment Growth is an investor in.) Investors have been flocking to AI, live entertainment, and sports. Sports M&A nearly tripled in three years to $27.9 billion in 2023, driven by deals for team franchises, the Alignment Growth report showed. High ticket prices for live entertainment could dampen attendance, especially if consumer confidence takes a hit.

Persons: Wade Holden, Anthony Jasenski, CBRE's, Jasenski, haven't, IATSE, Alex Iosilevich, Schlogel, Craig Thompson Organizations: Venture, Business, Disney, Warner Bros, Global, P Global Market Intelligence, Blackstone, Bain Capital Real, Deloitte, Teamsters, Hollywood, Investors, Sports, Atwater, Mindspring Capital Locations: Hollywood, Crunchbase, Americas, OpenAI

As he emerges victorious from the Republican primary race, Trump faces considerable challenges both inside and outside the political arena. Wednesday’s inauspicious start to Trump’s outreach efforts is reflective of the longstanding concerns about his temperament and style that inspired many Republicans to support Haley, Florida Gov. In cruising to his party’s nomination, Trump left little doubt that he remains the dominant figure in the GOP. From Iowa and New Hampshire through Super Tuesday, Haley especially exposed persistent divisions in the party and headwinds for Trump recapturing moderate support. Meanwhile, nearly three in 10 of all primary voters said Trump wouldn’t be fit for the presidency if he is convicted of a crime.

Persons: Donald Trump, Nikki Haley’s, “, Democrats ”, Haley, Trump, Joe Biden, Ron DeSantis, ” Haley, Mike Pence, Tim Scott, Chris Christie, Biden, Lara Trump, –, aren’t, Doug Moran, ”, he’s, ” Moran, Jack Wolber, ” “ Donald Trump, Mitch McConnell, Sen, Lindsey Graham, Republicans can’t, Pope, Trumper, ” Pope, Roy Bailey, Elon Musk, you’ve, CNN’s Kaitlan Collins, Ebony Davis, Morgan Rimmer, Kevin Liptak Organizations: CNN, Republican Party, GOP, Democrats, Vermont, South, Republican, White, Republicans, Florida Gov, “, United Nations, Trump, RNC, don’t, Biden ”, Super, Democratic, Teamsters, MAGA, Inc, Black, Jewish American, North, North Carolina Republican, Variety, Mar, Elon, US, Biden, Democratic National Committee, Republican National Committee Locations: South Carolina, Florida, Michigan, Georgia, Arizona, Pennsylvania, Trump, Iowa, New Hampshire, Super, North Carolina, Virginia, Nashua , New Hampshire, Trump ., Michigan , Wisconsin, Detroit, Georgia , Pennsylvania, Gaza, , Texas

☆ Why Power Eludes the French Left
▼ + stars: | 2024-03-06 | by ( Elisabeth Zerofsky | ) www.nytimes.com time to read: +1 min

As transit walkouts snarled traffic and sanitation strikes caused trash to pile up in the streets, the protests were ridiculed abroad. Why must the French, among the best-protected workers in the Western world, make such a racket over two years of work? But for the demonstrators, this missed the point: It is because French workers put up a fight that they are protected. France has always been a vanguard of leftist politics. How it fares says much about where the left may be headed and the headwinds it faces, not just in France but throughout the West.

Persons: Samira Organizations: Writers Guild of America, United Auto Workers, UPS Teamsters, National Health Service Locations: Teleperformance, France, United States, Britain

☆ Bud Light boycott likely cost Anheuser-Busch InBev over $1 billion in lost sales
▼ + stars: | 2024-02-29 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —The world’s largest brewer may have lost as much as $1.4 billion in sales because of the backlash to its brief partnership with a transgender influencer to promote Bud Light beer. Anheuser-Busch InBev (BUD) reported record revenues for 2023 Thursday but said its “full growth potential was constrained” by its US business, where sales were hurt by a boycott of Bud Light over a sponsored Instagram post with Dylan Mulvaney. In North America, organic revenue, seen as the best measure of operating performance, plunged $1.4 billion last year as beer sales by volume tumbled in the region, primarily due to a decline in Bud Light sales in the United States. Bud Light sales tanked after the company’s partnership with Mulvaney sparked an anti-trans backlash and calls for a boycott. The firestorm saw Mexican lager Modelo Especial dethrone Bud Light last May as America’s top-selling beer, a title the brand had held for more than two decades.

Persons: BUD, Bud Light, Dylan Mulvaney, Beer, Mulvaney, Bud, Aarin, Hargreaves, ” Organizations: London CNN, Bud, Anheuser, Busch InBev, Bud Light, Modelo, “, Teamsters, InBev, InBev’s, Budweiser Brewing Company Locations: North America, United States, InBev’s Asia, Hong Kong, South Korea, China

☆ Teamsters, Anheuser-Busch reach tentative deal to avert a strike
▼ + stars: | 2024-02-28 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: 1 min

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☆ A UPS worker who made $2,600 in one week explains how he did it
▼ + stars: | 2024-02-28 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Adrian De La Torre, 30, is an Oregon-based package handler (also known as a pre-loader) who earns $21 per hour for the part-time role. De La Torre earned 51 hours of overtime pay just in time for Christmas. But, De La Torre said he "spent months preparing my mind and body" for the long workweeks. AdvertisementThe package handler said he's lost about 65 pounds since starting at the company four years ago. One UPS driver previously went viral online for his $2,400 paycheck, but he only worked 49 hours that week.

Persons: —, Adrian De La Torre, De La Torre, subreddit, he's, bro Organizations: Service, Business, De, BI, Teamsters, UPS Locations: Oregon

☆ Norfolk Southern proxy fight draws heavyweight politicians and regulatory scrutiny a year after derailment
▼ + stars: | 2024-02-27 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +12 min

Norfolk Southern' has underperformed both its peers and the broader market over the last year. Norfolk Southern responded on Monday, rejecting that slate and announcing it would nominate former Amtrak CEO Richard Anderson and former U.S. For Ancora, which has a successful track record as an activist investor, the proxy fight at Norfolk Southern would be its largest ever. EdgePoint controlled 3.4 million Norfolk Southern shares as of Dec. 31, or about 1.5% of shares outstanding. Norfolk Southern has yet to set a date for the annual shareholder meeting.

Persons: Alan Shaw, Norfolk Southern Scott Mlyn, John Kasich, Donald Trump, Ancora, Shaw, Jim Barber, Jamie Boychuk, Richard Anderson, North Dakota Heidi Heitkamp, Heitkamp, Anderson, Frank Blake, Matt Freed, Joe Biden, Biden, Trump, it's, there's, Ancora's, Hunter Harrison, Norfolk Southern, Martin Oberman, Oberman, Amit Bose, Bose, Jim Chadwick, Chadwick, Ancora beneficially, Barber, Boychuk, Harrison, Mandel Ngan, Ancora's Chadwick, Amy Miles, Miles, Claude Mongeau, CNBC's Leslie Picker, Heidi Heitkamp Organizations: Norfolk Southern, CNBC, Norfolk, Ancora Advisors, EdgePoint Investment Group, Republican, Amtrak, Delta Airlines, Cargill, Home Depot, U.S, Energy, Workers, East, Trump, Biden, Southern, PSR, Federal Railroad Administration, Surface Transportation, Federal, UPS, Teamsters, Canadian, . Norfolk Southern, CSX, Deutsche Bank, AFP, Getty Locations: Norfolk Southern, East Palestine , Ohio, Ohio, Norfolk, North Dakota, Medtronic, East Palestine, Cleveland, Ancora

☆ FTC sues to block Kroger, Albertsons merger, arguing deal would raise grocery prices and hurt workers
▼ + stars: | 2024-02-26 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

"Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating." Kroger said in a statement that blocking the deal "will actually harm the very people the FTC purports to serve: America's consumers and workers." The company also pledged $500 million to reduce prices for customers and $1 billion to raise employee wages and expand benefits. Two unions that represent Kroger and Albertsons employees, the United Food and Commercial Workers International Union and the Teamsters union, opposed the deal. Higher grocery prices have irked consumers and become a hot topic on the campaign trail.

Persons: Henry Liu, Kroger, Albertsons, Biden, Joe Biden, Rodney McMullen Organizations: U.S . Federal Trade Commission, Kroger, Albertsons, FTC, Washington D.C, Walmart, Amazon, Costco, White, United Food, Commercial Workers International Union, Teamsters Locations: Arizona , California, Washington, , Illinois, Maryland , Nevada , New Mexico , Oregon, Wyoming, FTC's

☆ 2023 was year of the strike. Here’s what’s possibly ahead in 2024
▼ + stars: | 2024-02-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

The 33 strikes last year is roughly double the average of 16.7 major strikes a year over the course of the last 20 years. A separate database of all work stoppages by Cornell University’s School of Industrial and Labor Relations shows that there were 451 work stoppages in 2023, up 9% from the 2022 total. So the major strikes of 1,000 or more account for less than 10% of the overall number of strikes. So many of the major strikes and contract negotiations that occurred in 2023 will not occur again in 2024. But that doesn’t mean there isn’t a chance of some major work stoppages this year.

Persons: Joe Biden Organizations: New, New York CNN, Labor Department, Bureau of Labor Statistics, SAG, Cornell University’s School of Industrial and Labor Relations, General Motors, Ford, Anheuser, Busch, Teamsters, CNN, Molson Coors, Hollywood, Writers Guild of America, Boeing Boeing, Boeing, Max, Alaska Airlines, Professional, American Airlines, Labor, Railway Labor Locations: New York, America, Fort Worth , Texas, Canada, Hollywood, Washington

☆ Teamsters union strikes Molson Coors as it prepares to walk out at Anheuser-Busch next week
▼ + stars: | 2024-02-20 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —More than 400 Teamsters are on strike at the Molson Coors brewery in Fort Worth, Texas, impacting production for North America’s second largest brewer. The work stoppage, which began Saturday, comes ahead of a March 1 strike deadline that the Teamsters have set for 5,000 members at Anheuser-Busch, the nation’s largest brewer. In its most recent statement on the state of those talks the union said a strike at Anheuser-Busch “appears unavoidable.”The Molson Coors strike comes as the company has been reporting strong sales and profits. Molson Coors said about 30% of its North American work force is unionized, but much of that is the workers at three Canadian breweries. “While we respect the union’s right to strike, we have strong contingency plans and are well equipped to ensure consumers will be able to buy their favorite Molson Coors products,” said the company’s statement.

Persons: Busch “, ”, Gavin Hattersley, Sean O’Brien, We’re, we’re, Molson Coors Organizations: New, New York CNN, Teamsters, Molson Coors, North, Anheuser, Busch, Molson Locations: New York, Fort Worth , Texas, North America’s, American, Fort Worth

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