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☆ A Microsoft under attack from government and tech rivals after 'preventable' hack ties executive pay to cyberthreats
▼ + stars: | 2024-05-22 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +13 min

The decision by Microsoft to link executive compensation to successful cybersecurity performance is another is prompting discussions at other firms. One change the tech giant is making in response: linking executive compensation more closely to cybersecurity. In recent years, many Fortune 500 companies, including Apple, have added bonus pay tied to ESG metrics. The conversations about cybersecurity-linked executive pay have started taking place at other companies since Microsoft made its move, according to Aalap Shah, managing director at executive compensation consultant Pearl Meyer. Madnick's research shows that gaps in corporate culture are often culprits in high-profile hacks, not just the Microsoft example.

Persons: Brad Smith, Charlie Bell, Aalap Shah, Pearl Meyer, It's, I've, Shah, —, Stuart Madnick, Madnick, Ryan Kalember, unavoidability, Jen, Kalember, ransomware, Mike Doonan, Doonan Organizations: Microsoft, U.S, Hill, Google, U.S . Department of Homeland, Initiative, Microsoft Security, Team, Companies, Fortune, Apple, MIT, Infrastructure Security Agency, CNBC, Technology, State Department Locations: China, Russia, cybersecurity, U.S

☆ Exxon faces opposition from CalPERS after 'devastating' anti-ESG activist suit
▼ + stars: | 2024-05-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Exxon Mobil 's monthslong battle with two environmentally focused activist investors has cost the company the support of the California Public Employees' Retirement System. The two activists submitted a shareholder proposal that would have forced the company to reduce direct emissions and set a target for lowering emissions at suppliers and customers. Exxon sued the investors in Texas federal court in January, prompting them to withdraw the proposal. Even with the activists backing off, Exxon has continued its lawsuit to prevent the activists from ever again submitting such a proposal. CalPERS said in its letter that Exxon's "reckless" lawsuit threatened shareholder activism efforts on any issue.

Persons: Darren Woods, Arjuna, CalPERS, Marcie Frost, Theresa Taylor, it's, Greg Goff, Kaisa Hietala, Andy Karsner, Jeff Ubben Organizations: APEC, Summit, Moscone West, Exxon Mobil, California Public Employees, Exxon, CNBC, ExxonMobil, Securities and Exchange Commission, Inclusive Capital Locations: San Francisco , California, Texas

☆ Here are the highest-paid CEOs in the US , some of whom have 9-figure compensation packages
▼ + stars: | 2024-05-03 | by ( Tim Paradis | ) www.businessinsider.com time to read: +1 min

Broadcom's Hock Tan tops a list of highly paid CEOs. The median pay package for CEOs was $23.7 million in 2023, an 11.4% increase from the prior year. The highest-paid CEOs in the US aren't necessarily household names, but they're enjoying some pretty sweet pay packages — more than enough to avoid worries about higher prices for that morning coffee. Take Hock Tan, head of chipmaker Broadcom. Tan topped a list of the 100 highest-paid chiefs from Equilar, which analyzes data on executive compensation.

Persons: Broadcom's Hock Tan, —, Hock Tan, Tan Organizations: Service, Broadcom, Business Locations: Equilar

☆ Trump Media tells shareholders how to block their DJT stock being loaned to short sellers
▼ + stars: | 2024-04-18 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Trump Media is making a point of telling its shareholders how to prevent their stock from being loaned to short sellers — who bet the price of the shares will drop. "It certainly shows concern" about short selling of Trump Media stock, said Kevin Murphy, a business professor at the University of Southern California who is an expert on executive compensation. "I haven't seen it before," Murphy said when asked how common it is for companies to give shareholders instructions on how to thwart short sellers. "Managers who ... think the stock is undervalued aren't going to be overly concerned about short sellers," he said. Former President Donald Trump is by far the biggest shareholder in Trump Media, owning nearly 60% of its stock.

Persons: Kevin Murphy, Murphy, Trump, Donald Trump Organizations: Trump Media, Trump, University of Southern Locations: University of Southern California

☆ How Bombardier is cashing in on business elite's love affair with private jet travel
▼ + stars: | 2024-04-12 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

They immediately established an ambitious, five-year strategic plan to reposition Bombardier, with a focus squarely on its sturdiest leg: the high-flying business jet and ancillary services industry. Deliveries of business and general aviation aircraft last year topped 4,000 for the first time in more than a decade, the General Aviation Manufacturers Association reported in February. Historically, the business jet market has been cyclical, said Noah Poponak, an analyst for Goldman Sachs, "but it's been hyper-cyclical in the past 20 years." Sales of all business jets were healthy leading into 2020 — and then the Covid pandemic hit. Everyone wanted a business jet and was willing to buy whatever was out there, new or used."

Persons: headwinds, Bombardier's, Alain Bellemare, divesting, Éric Martel, Bart Demosky, Demosky, Warren Buffett's Berkshire Hathaway, CFOs, Noah Poponak, Goldman Sachs, Walter Spracklin, Spracklin Organizations: Bombardier, Boeing, Airbus, General Aviation Manufacturers Association, Challenger, Global, Companies, Honeywell, RBC Capital Markets Locations: Montreal, Warren, Covid

He had planned to lead a team of 15 local journalists reporting on the eclipse. Journalists at The Democrat & Chronicle have worked without a contract since 2019, said Susan DeCarava, president of the NewsGuild of New York, the union that represents them. Workers also seek a policy regarding the ethical use of artificial intelligence in reporting and writing articles, Mr. Craig said. “We had this incredible story that would touch a lot of people in our community,” Mr. Craig said. “Hopefully we’ll be back at the negotiating table tomorrow morning,” Mr. Craig said.

Persons: “ I’m, I’m, ”, Gary Craig, Susan DeCarava, “ Gannett, Ms, DeCarava, Craig, ’ bylines, “, ” Amy Garrard, ” Mr, we’ll Organizations: Democrat, Chronicle, Gannett, Journalists, The Democrat, The New York Times, ” Gannett, USA, Workers Locations: Rochester , N.Y, New York, newsrooms, United States, Rochester

☆ Boeing CEO Calhoun took home $5 million last year, compensation package hit by Max crisis
▼ + stars: | 2024-04-05 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Calhoun's total compensation last year rose 45% to $32.8 million, up from $22.6 million in the prior year. The manufacturer is grappling with the fallout of a door plug panel that blew out midair from a 737 Max operated by Alaska Airlines in January. Boeing disclosed the take-home pay, which did not include a 2023 bonus Calhoun declined that was valued at $2.8 million, and executive compensation in a filing on Friday. Calhoun took the helm at Boeing in January 2020 after his predecessor was ousted for his handling of the aftermath of two fatal crashes of the 737 Max. The Justice Department is investigating the Alaska Airlines accident and the Federal Aviation Administration has capped Boeing's 737 Max production until it signs off on Boeing's quality control.

Persons: Dave Calhoun, Dave Calhoun's, Max, Stan Deal, Calhoun, Steve Mollenkopf, aren't Organizations: Capitol, Washington , D.C, Boeing, Alaska Airlines, Justice, Federal Aviation Administration Locations: Washington ,

☆ Walmart, Chipotle are splitting the wealth of a record stock market in a way they haven't in decades
▼ + stars: | 2024-03-31 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

For Chipotle, it's the first stock split in the company's 30-year history, and its announcement echoed Walmart's. Both are hoping, through the availability of an employee stock purchase plan and financial education, they'll get more workers to invest. Chipotle, even further out on the market chart, has shares nearing $3,000 — its stock split is to be effective June 26. ESPP versus fractional sharesEven without a stock split, employees could have already purchased shares of their company, or at least fractional shares, through a brokerage account. Company stock and financial educationSplitting a stock and having a generous ESPP can only go so far when it comes to encouraging employees to buy the company stock.

Persons: they'll, Michael Kestenbaum, Chipotle, Dan Kapinos, Clemens Kownatzki, Aalap Shah, Pearl Meyer, SoFi, Kownatzki, Larry Fink, Kestenbaum Organizations: Walmart, Companies, West Coast, Google, Pepperdine Graziadio Business, Khan Academy, Lyra Health Partners, Bank of America, Employees Locations: Aon

☆ Disney just deployed Pinocchio in its war with activist investor Nelson Peltz
▼ + stars: | 2024-03-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Disney is at war with activist investor Nelson Peltz, who's seeking two board seats. The media giant deployed Pinocchio in an investor presentation to accuse Peltz of falsehoods. AdvertisementDisney is fending off an activist campaign from billionaire investor Nelson Peltz and his Trian Partners firm. It wants Disney shareholders to vote Peltz and another nominee onto the board, instead of two Disney directors seeking re-election. Peltz filed a letter to Disney shareholders this week titled "Shareholders Can't Afford Another Boom and Bust Sequel."

Persons: Nelson Peltz, Peltz, Disney's, —, Trian, Disney, It's, that's, Bob Iger, he's, it's, Trian didn't Organizations: Disney, Service, Trian Partners, SEC, Netflix, Business Locations: Florida

☆ Elon Musk might not get to keep his $55 billion Tesla package. But overall, CEOs shouldn't panic about their paydays.
▼ + stars: | 2024-03-07 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

A judge recently voided Elon Musk's $55 billion compensation package at Tesla. AdvertisementA Delaware judge recently ruled that Elon Musk should not get a $55 billion compensation package for his work at Tesla despite his contributions to the company. So now that Musk's compensation has to be renegotiated, will other executives kiss their massive bonuses, stock options, and paychecks, goodbye? The more Tesla was worth, the higher Musk's compensation would get. "I don't know whether individual CEOs are panicking or taking Elon Musk as a role model, thinking, 'Well, if he doesn't like Delaware, then I have to move out of Delaware,'" Lipton said.

Persons: —, Elon, Tesla, I'm, James, Kathaleen McCormick, Musk, Musk Ann Lipton, Lipton, Musk's, Kimbal, Elon Musk Organizations: Elon Musk's, Tesla, Service, University of California, Delaware Supreme, Tulane University, Business Locations: Delaware, Los Angeles

☆ Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
▼ + stars: | 2024-02-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.

Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs

☆ Medicare now negotiating price of drug that costs $7,100 in US vs. $900 in Canada
▼ + stars: | 2024-02-06 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

The annual list price of Bristol Myers Squibb’s Eliquis, a blood thinner that reduces the risk of stroke, is $7,100 in the US. Johnson & Johnson’s arthritis drug Stelara carries an annual list price of $79,000 in the US. Johnson & Johnson declined to comment on Sanders’ report. Medicare launches drug price negotiationsOther nations typically pay far less for medications, in large part because their governments often determine the cost. Those who have yet to meet their deductible and the uninsured may have to pay the full list price.

Persons: CNN — Sen, Bernie Sanders, Bristol Myers, it’s, Johnson, Sanders, drugmakers, Biden, Donald Trump, Sanders ’, Bristol Myers Squibb, Merck Organizations: CNN, Bristol, Health, Education, Labor, Pensions, Johnson, Merck, Bristol Myers Squibb, Medicare, Bristol Myers Locations: Japan, Canada, Germany, United Kingdom, France, Vermont

☆ What Walmart’s new focus on employee stock could mean for the wealth of the average American household
▼ + stars: | 2024-02-03 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Walmart is offering its store managers stock grants, which based on a manager's store format, can range between $10,000 and $20,000. It's not only managers that Walmart wants to encourage to buy into stock ownership. 1 employer, Walmart's decisions are likely to have significant ripple effects and could even lead to broader equity ownership among rank-and-file employees. Already companies such as Ingersoll Rand and Harley-Davidson have taken steps to broaden stock ownership to employees. "Stock ownership is a pillar of worker financial wellness."

Persons: John David Rainey, Chris Taylor, It's, John Furner, Doug McMillon, Biden, Marc Roloson, Aalap Shah, Pearl Meyer, Shah, Brian J, Albert H, Gordon, Stacey Kole, Ed Rataj, Michael Kestenbaum, Gallagher, Peter Follows, Kole, Ingersoll Rand, Davidson, Martin Whitman, Whitman, Pete Stavros's, Walmart's, Harvard's, WTW's Roloson Organizations: New York Stock Exchange, Walmart, International, NYSE, LinkedIn, Companies, Business Administration, Harvard Business School, The University of Chicago Booth School of Business, CBIZ, Carpedia, Harley, Just Locations: U.S

☆ Why don't many executives take pay cuts to avoid layoffs? An ex-Microsoft HR VP explains.
▼ + stars: | 2024-02-01 | by ( Chris Williams | ) www.businessinsider.com time to read: +6 min

The executives in charge never seem to pay a price for the pain they cause, and here are several reasons why. AdvertisementFor these companies, cutting 10,000 employees saves them in the neighborhood of a billion dollars a year in costs. More importantly, boards see handcuffing the executive to the stock price roller coaster as a good thing. If they take action that increases the company's value and its stock price, everyone wins. The difference then is the stock package and the stock price — just what the boards of these companies want.

Persons: —, there's, I've, Google's Sundar Pichai, Satya Nadella, it's, Sundar, you'll, They're, Sundar Pichai, Tim Cook, Chris Williams Organizations: Service, Microsoft, Business, Apple

Even when compared with other CEOs, who routinely get paid roughly 200 times more than their typical employees, Elon Musk’s pay package was eye-opening. Critics have argued for years that CEO pay packages are exorbitant. Under Musk’s pay plan, he received a chunk of stock options each time Tesla’s market value rose by $50 billion. General Motors, for example, considers executive salaries at 3M, Boeing, Ford, IBM and other huge companies, and uses complex formulas to determine CEO compensation. Corporate law experts say any new compensation package for Musk will likely be challenged in court unless Tesla's board either resigns en masse or follows a meticulous process to protect shareholders by passing a substantially smaller package.

Persons: Tesla, Kathaleen St, Jude McCormick, Musk, Bernard Arnault, Critics, Blackstone’s Steven Schwarzman, “, ‘, ’ ” McCormick, Musk’s, shouldn’t, Mary Barra, Jim, Mark Zuckerberg, Tim Cook, they’re, ”, Charles Elson, ” Elson, Elson Organizations: Elon, Musk, Forbes, General Motors, 3M, Boeing, Ford, IBM, Big Tech, University of Delaware, Lawyers Locations: Delaware, —, Barra, U.S

A judge just voided Elon Musk's $55 billion Tesla pay package. The ruling, which Tesla can appeal, threatens Musk's spot as the richest person in the world. AdvertisementElon Musk's wealth is facing a potential financial hit after a Delaware judge struck down the billionaire's $55 billion Tesla pay package on Tuesday, voiding the record-setting executive compensation plan. Without the $51.1 billion compensation plan, Musk's net worth would drop to roughly $154 billion, knocking him down several notches on the current list of the world's richest people, Bloomberg reported. His pay package centers around 304 million stock options in 12 tranches tied to a series of goalposts around the carmaker's financial growth, BI previously reported.

Persons: Tesla, —, Elon, Musk, Jeff Bezos, He's, Bernard Arnault, tranches, Richard Tornetta, Greg Varallo, Delaware — Elon, Angela Reddock, Wright, Cynthia Augello, Joshua Tyler White, they're, They've Organizations: Elon Musk's, Bloomberg, Service, New York Times, SEC, Vanderbilt Locations: Delaware, French, Los Angeles, New York, China

☆ Activist Rubric nominates two directors at Xperi. Here’s how the firm may help enhance shareholder value
▼ + stars: | 2024-01-27 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Xperi is a technology company that develops software solutions and has the following four main business segments. Rubric is a deep value, long/short investor that will become active in situations that require it. The problem is a culture that is not focused on shareholder value. Accordingly, Rubric Capital nominated Conrad and Lacey for election as directors to the company's board at Xperi's 2024 annual meeting. There is a big difference between settling for two additional directors on a seven-person board and replacing two incumbent directors on a five-person board.

Persons: Xperi, David Rosen, Rosen, Tobii, Conrad, Lacey, Ken Squire Organizations: Smart, TiVo, SAC Capital, Tobii, 13D Locations: New York, Swedish

☆ TIME Magazine lays off 15% of unionized editorial staff, becoming latest news outlet to slash workforce
▼ + stars: | 2024-01-23 | by ( Liam Reilly | ) edition.cnn.com time to read: +2 min

CNN —TIME, the iconic red-framed magazine, laid off some 15% of its union-represented editorial employees on Tuesday, the newsroom’s union said, becoming the latest major news outlet to slash its reporting staff. A TIME spokesperson told CNN that the outlet had laid off roughly 30 employees across several departments, including editorial, technology, sales and its studios division. Among those laid off Tuesday was a majority of the staff at TIME for Kids, a news publication for school-age children, the union said. “All of these actions have moved us considerably closer to being a profitable company, an achievement we must reach to realize TIME’s full potential. “Audiences can read the difference between a media company that invests in journalists and one that invests in executive compensation and outside consultants.

Persons: “, ” Haley Weiss, Jessica Sibley, ” Sibley, Susan DeCarava, ” Organizations: CNN, Time Magazine Locations: New York

☆ Nvidia and AMD CEOs: Two of the world’s most powerful tech execs come from the same Taiwanese family
▼ + stars: | 2023-11-05 | by ( Michelle Toh | Wayne Chang | ) edition.cnn.com time to read: +10 min

The chief executives of Nvidia (NVDA) and AMD (AMD) aren’t just two of the most powerful people in the global AI chip industry, they’re also family. “For almost half a century now, Taiwan’s economy has been centered on electronics production, chip assembly, chip manufacturing, chip design, everything semiconductors. According to Nvidia, Huang was born in 1963 in Taipei before moving to the southern city of Tainan. “I would say anyone who logs on the internet is likely touching not just one, but dozens and hundreds of Nvidia and AMD chips,” said Miller. I would say anyone who logs on the internet is likely touching not just one, but dozens and hundreds of Nvidia and AMD chips.

Persons: Taipei CNN — Jensen Huang, Lisa Su, they’re, Su, Jean Wu, Wu, Huang, ” Su, ” Wu, ” Christopher Miller, ”, it’s, there’s, Hwa Cheng, Edith Yeung, Miller, Robyn Beck, AMD’s, Florence Lo, “, Christopher Miller Organizations: Taipei CNN, Nvidia, AMD, CNN, Consumer Technology Association, rockstar, Technology, Bloomberg, Getty, Race Capital, ASUS, Consumer, Massachusetts Institute of Technology, Oregon State University, Stanford University, McKinsey, Associated Press, CTA Locations: Hong Kong, Taipei, Taiwan, United States, China, Silicon Valley, Silicon, Tainan, Thailand, Washington, Kentucky, New York City, Las Vegas, AFP, Santa Clara , California

☆ Gary Gensler and the SEC Lose Again
▼ + stars: | 2023-11-03 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review and Outlook: Minnesota Congressman Dean Phillips fears President Biden could lose to Donald Trump, and he’s right. Images: Reuters/AFP/Getty Images Composite: Mark KellyIs Gary Gensler ever going to win a case? On Tuesday the Fifth Circuit Court of Appeals handed the Securities and Exchange Commission Chairman another legal defeat by scuttling the agency’s stock-buyback rule (U.S. Chamber of Commerce v. The SEC in May finalized a rule requiring public companies to disclose their daily share repurchases and the reason for buying back their stock. Mr. Gensler claimed companies might buy back their stock to boost executive compensation, which is sometimes tied to accounting metrics such as earnings per share.

Persons: Dean Phillips, Biden, Donald Trump, Mark Kelly, Gary Gensler, Gensler Organizations: AFP, Getty, Circuit, Appeals, Securities and Exchange, . Chamber, Commerce, SEC Locations: Minnesota

☆ United Auto Workers Strike a Blow for Equality - The New York Times
▼ + stars: | 2023-10-30 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

Some history you should know: Baby boomers like me grew up in a nation that was far less polarized economically than the one we live in today. For example, chief executives of major corporations were paid “only” 15 times as much as their average workers, compared with more than 200 times as much as their average workers now. But income gaps remained narrow for decades after these controls were lifted; overall income inequality didn’t really take off again until around 1980. Unions are a force for greater wage equality; they also help enforce the “outrage constraint” that used to limit executive compensation. Conversely, the decline of unions, which now represent less than 7 percent of private-sector workers, must have played a role in the coming of the Second Gilded Age we live in now.

Persons: Claudia Goldin, Robert Margo Organizations: Unions Locations: America

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ Exxon buying Pioneer will trigger $71 million in executive windfalls
▼ + stars: | 2023-10-11 | by ( David French | ) www.reuters.com time to read: +4 min

Sheffield is one of the few Pioneer executives who will have a post-deal role - he is set to join Exxon's board. Changes to pay packages that make executive compensation more lucrative in proximity to a sale announcement can also raise eyebrows. The expected payouts do not count whatever Pioneer stock management owns and will be acquired as part of the Exxon deal. Exxon's acquisition of Pioneer will be paid for using new Exxon shares, meaning shares in Pioneer owned by management will be replaced by Exxon stock. It was unclear whether management would have any restrictions on when they could sell the Exxon stock they would ultimately own.

Persons: Scott Sheffield, Eduardo Munoz, Richard Dealy, Bart Brookman, Chris Kendall, Denbury, David French, Gary McWilliams, Anna Driver Organizations: Natural Resources Company, REUTERS, Natural Resources, Exxon Mobil, Sheffield, Pioneer, Reuters, Exxon, Kimmeridge Energy Management, PDC Energy, Chevron, Thomson Locations: New York, U.S, America, Houston

☆ Biden Joins U.A.W. Strike President Heads to Picket Line in Michigan to Court Autoworkers
▼ + stars: | 2023-09-26 | by ( Katie Rogers | Neal Boudette | ) www.nytimes.com time to read: +4 min

The high-profile contract fights have played out across the country, just as public opinion has been turning more in favor of organized labor. UPSThe union representing more than 325,000 UPS workers, the International Brotherhood of Teamsters, spent months negotiating a new contract with the company. The workers’ key demands included better pay for part-time workers, whom the company relies on heavily during busy periods, and improved heat safety. The work stoppage has grown in scope since, with the union expanding its strike to include spare-parts distribution centers for G.M. has pointed to growth in profits and chief executive compensation in making its demands for improved compensation for its members.

Persons: they’ve, —, Shawn Fain Organizations: United Automobile Workers, SAG, Writers Guild of America, International Brotherhood of Teamsters, Gallup, Bureau of Labor Statistics, Hollywood, Guild of America, UPS, United Auto Workers, U.S, — Ford, General Motors, Teamsters Locations: Hollywood, Staten

Theo FrancisTheo Francis covers corporate news and executive compensation for The Wall Street Journal from Washington, D.C. He specializes in using a wide range of data as well as securities filings and other publicly available documents to write about complex financial, business, economic, legal and regulatory issues. Theo joined WSJ's Texas Journal edition in Dallas in 2000 and went on to cover mutual funds, pensions, insurance, hospitals and the healthcare industry for the Journal from New York and Florida. He covered financial regulation and the financial crisis from Washington for BusinessWeek in 2008 and 2009. He has taught journalism at the University of Maryland and is a graduate of the University of Illinois and the Columbia University Graduate School of Journalism.

Persons: Theo Francis Theo Francis, Theo Organizations: Wall, WSJ's Texas, BusinessWeek, Petersburg, New York Times, National Public Radio, Bloomberg News, Arkansas Democrat, University of Maryland, University of Illinois, Columbia University Graduate School of Journalism Locations: Washington ,, Dallas, New York, Florida, Washington, Petersburg , Alaska, Arkansas

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