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Tractor Supply Co. backtracks on DEI roles and goals
  + stars: | 2024-06-29 | by ( Eva Rothenberg | ) edition.cnn.com   time to read: +6 min
New York CNN —Tractor Supply Company has eliminated its diversity, equity and inclusion initiatives as part of what the retail chain says is a push to distance itself from “nonbusiness activities” after conservative backlash from some of its customer base. “You can’t say you’re going to try to do at Tractor Supply what they do at the Apple headquarters in Cupertino, California — that’s definitely not going to work,” he said. “Tractor Supply Co is turning its back on their own neighbors with this shortsighted decision,” Eric Bloem, vice president of Programs and Corporate Advocacy at the Human Rights Campaign, told CNN in a statement Saturday. This is why the Tractor Supply — and most of the country’s biggest employers — have worked with us for years to create inclusive policies and practices. Those are the parts that business leaders aren’t thinking about as they are folding on DEI.”
Persons: , , Robby Starbuck, Starbuck, X, ” Shaun Harper, Harper, that’s, ” Eric Bloem, , Bud Light’s, influencer Dylan Mulvaney Organizations: New, New York CNN — Tractor Supply Company, Supply, Tennessee’s, Congressional, Tractor Supply, University of Southern, CNN, Tractor, National FFA Organization, Apple, , Human Rights, , Companies, Anheuser, Busch InBev, Target Locations: New York, University of Southern California, Brentwood , Tennessee, Cupertino , California, United States
We're taking a closer look at a few of our stocks in the headlines on Tuesday: Starbucks, Constellation Brands and Walt Disney. The firm said it is looking beyond the current quarter, noting that Starbucks is "underearning vs its potential." Constellation Brands News: Bernstein named Constellation Brands its top pick for 2024 in a Tuesday research note. That's why a potential partnership that would give equity ownership of ESPN to a professional sports league would be so interesting. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Walt Disney, Morgan Stanley, Bernstein, Jim, Bob Iger, Wells Fargo, Nelson Peltz, Jim Cramer's, Jim Cramer, Spencer Platt Organizations: Starbucks, Constellation Brands, Walt, Modelo, Disney, ESPN, National Football League, New York, NFL Media, NFL Network, Players Association, NFL, Netflix, CNBC, People, Starbucks Workers United, Getty Locations: Israel, China, Corona, Pacifico, New, New York City
REUTERS/Kevin Lamarque Acquire Licensing RightsNEW YORK, Nov 16 (Reuters Breakingviews) - America’s corporate chieftains were thrilled to see China’s President Xi Jinping at Wednesday’s gala dinner in San Francisco. So thrilled that they gave him a standing ovation, according to Reuters. He has defended China’s stance on Taiwan, equating the self-governing island’s relationship with the People’s Republic to Hawaii’s position vis-à-vis the United States. The standing ovation is just a new, cringeworthy way to follow the money. Xi received a standing ovation as he entered the room and before and after he took the stage, the report said.
Persons: Joe Biden, Xi Jinping, Kevin Lamarque, Xi, Tim Cook, Larry Fink, Steve Schwarzman, Ray Dalio, Bridgewater, Tesla, Elon Musk, Apple’s Cook, Ding Xuexiang, Howard Schultz, Biden, , John Foley, Aditya Sriwatsav Organizations: Economic Cooperation, REUTERS, Reuters, Apple, Blackstone, , China, Xi, Thomson Locations: Filoli, Asia, Woodside , California, U.S, San Francisco, BlackRock, China, United States, Taiwan, Republic, Schwarzman, Beijing
New York CNN —Starbucks announced Wednesday that Howard Schultz is stepping down from its board of directors – but the former chairman’s name will be sticking around. Though Schultz is retiring, Starbucks is giving him the title of “lifelong Chairman Emeritus.”Schultz is stepping down as part of a planned transition, Starbucks said in a statement. He previously stepped down as CEO in March, as employees at stores across the nation moved to unionize. That was Schultz’s third time serving in the CEO role. Then, in April 2022, Johnson stepped down and Schultz took over the coffee giant as interim CEO.
Persons: Howard Schultz, , Schultz, ” Schultz, Sheri, Wei Zhang, Zhang, Ralph Lauren Corporation, Jack Ma, , Laxman Narasimhan, , Kevin Johnson, Johnson, Narasimhan Organizations: New, New York CNN, Starbucks, Alibaba, Alibaba Pictures, Los Angeles Sports & Entertainment Commission, Amblin Partners, Jack Ma Foundation, Starbucks Workers Locations: New York, China, Oleato
Starbucks shares slip despite earnings beat
  + stars: | 2023-05-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks shares slip despite earnings beatCNBC's Kate Rogers joins 'Squawk on the Street' to discuss Starbuck reporting a top and bottom line beat, the brands international store traffic, and why the stock trending down following revised estimates.
Former Starbucks CEO Howard Schultz told Congress about his father's work injury Wednesday. But Sen. Ed Markey used the anecdote to argue that Starbucks should respect unionizing workers. When Schultz was a child, his father slipped on ice and broke his foot while working as a driver, he said. Markey told the story of his own father, whom he said lost a finger in an accident at work. Starbucks told the Times that the remedies are "inappropriate."
Now, a Tennessee law restricting drag in front of minors is due to come into force on April 1. Several planned drag events were canceled over the winter after protests, and many venues felt forced to make previously family-friendly drag shows into adults-only events. Drag performers and venue owners say they are worried about their livelihoods and their rights of free expression. The Starbucks say there is no such thing as family-friendly drag; drag performers cite Bugs Bunny, Shakespeare's cross-dressing comedies and the Robin Williams film "Mrs. Doubtfire" among counterexamples. Outside of public Pride events, most Tennessee drag performers largely work in clubs and bars that admit only those over 18.
New York CNN —Starbucks’ new CEO Laxman Narasimhan teased his plan for the company in a letter to employees. It includes working in Starbucks stores as a barista once a month. “Critically, we will reinvigorate our culture around what it means to be a partner at Starbucks,” Narasimhan continued. Starbucks employees react and cheer at the sound of honking motorists supporting them in a nationwide strike at the Starbucks at 1601 W. Irving Park Road on Dec. 16, 2022, in Chicago. Schultz, who remains on Starbuck’s board, is scheduled to testify about Starbucks’ labor practices during a Senate hearing next week.
Starbucks' interim CEO Howard Schultz said unions have no place at the company in a CNN interview. He said that unionization efforts reflect a "much bigger problem" beyond individual companies. Schultz, who stepped in as interim CEO of Starbucks in April 2022, told Harlow: "I don't think a union has a place in Starbucks." Schultz argued that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. Unionization efforts from Starbucks workers began in Buffalo, New York in 2021 as workers grew tired of stores being consistently understaffed, poor working conditions during the pandemic, as well a demand for higher wages.
Earnings : More than 20% of the S & P 500 will report this week; by next Friday, 50% of the S & P will have reported. Craig Johnson at PiperSandler noted that 66% of all S & P 500 stocks are above their 200-day moving averages. It's not just the big-cap S & P 500 that is advancing: So are small-caps. The S & P High-Beta ETF is up 16% this month, at its highest levels since April of 2022. If that holds, it's the first positive January for the S & P 500 since 2019, when it was up 7.9%.
Still, union members said the proposed contract failed to provide enough of a raise to combat inflation, additional vacation days or better healthcare coverage. The UAW represents about 1,000 workers at the plants, and union officials had warned a rejection of the latest offer was likely. With a tightening labor market, union workers in the industrial sector for companies such as Boeing (BA.N) and Deere & Co (DE.N) have gone on strike in recent years. For CNH workers, who last struck the company in 2004, some have taken second jobs to augment strike pay they receive from the UAW. Reporting by Bianca Flowers in Racine, Wisconsin; Editing by Leslie Adler, Ben Klayman, William Mallard and Diane CraftOur Standards: The Thomson Reuters Trust Principles.
A fake press release announcing Trump's return to Twitter began circulating online Thursday night. The fake statement also duped Russian state media and a left-leaning MSNBC show. The fake statement appeared shortly after Elon Musk sealed his $44 billion deal to buy Twitter. TASS, the Russian state-controlled news agency, reported the claim in the fake statement that Trump's blocked Twitter account would be unlocked Monday. Robby Starbuck, another right-wing commentator, said he'd been duped after a news site posted the fake statement.
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