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☆ Thousands of Disneyland workers are expected to authorize a potential strike. It would be the first in 40 years
▼ + stars: | 2024-07-19 | by ( Natasha Chen | ) edition.cnn.com time to read: +7 min

Now, negotiating better wages and working conditions for Carranza and thousands of other Disneyland employees has gotten messy, to the point where 9,500 of them will conclude a vote on Friday that will authorize a potential strike. But that does not mean a strike will necessarily happen, as was the case with Teamsters at UPS last year. A dream of affordabilityCarranza ‘s Disneyland wage is just over $20 per hour, after factoring in a differential for working the overnight shift. Escaping reality, not confronting itA strike would involve about 9,500 employees who work at Disneyland Park, currently under a contract that expired in June. But only the Disneyland Park employees will vote and participate in a strike for now.

Persons: CA CNN — Cyn Carranza, it’s, ’, Carranza, ” Carranza, –, Coleen Palmer, Palmer, Coleen, ” Palmer, they’ve, Jenna Thompson, ”, Chris Isidore Organizations: CA CNN, Disney, Teamsters, UPS, Voters, Disneyland Resort, Park, Downtown Disney, Disneyland, ’ Equity Association, SEIU, USWW, UCFW, BCTGM, National Labor Relations Board, NLRB, CNN Locations: Anaheim, CA, Carranza, Orange County , CA, Southern California, Disney California

☆ Brooke Shields Has Worn Many Hats. Now She’s a Labor Boss.
▼ + stars: | 2024-07-01 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Brooke Shields has a new office. It’s empty, and she hasn’t figured out how she wants to furnish it, or even how often she’ll be there, but it’s a sign of her new and unexpected status, as president of Actors’ Equity Association, the labor union representing theater actors and stage managers in the United States. She’s already led her first meeting of the union’s council, and came away realizing she has a lot to learn, starting with parliamentary procedure. Shields, of course, is one of those people who has been famous for so long, and in so many ways, that even she can’t remember a different time. She was a childhood model, a preteen movie star, a sex object and an icon of beauty, all before she went off to college (Princeton, thank you very much).

Persons: Brooke Shields, hasn’t, Kate Shindle, She’s, Shields Organizations: ’ Equity Association, Princeton Locations: United States, union’s

☆ Brooke Shields Elected President of Labor Union Actors’ Equity
▼ + stars: | 2024-05-24 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: +1 min

Brooke Shields, the model-turned-actor who has starred in films, television and onstage, has been elected as the next president of Actors’ Equity Association, the labor union representing stage actors and stage managers. She succeeds Kate Shindle, who had been the union’s president since 2015, and announced last month that she would not seek re-election. The position of Equity president is a volunteer job, and Shields was elected to a four-year term. Shields won the election with about half the vote; the balance was split between two Equity vice presidents, Erin Maureen Koster and Wydetta Carter. Her victory was reported by the newsletter Broadway Journal and announced by the union on Friday; a union spokesman said she was not available for an interview.

Persons: Brooke Shields, Shields, Kate Shindle, Burgess Meredith, Ellen Burstyn, Colleen Dewhurst, Ron Silver, Erin Maureen Koster, Wydetta Carter Organizations: ’ Equity Association, Broadway Journal

☆ Why Jay Powell really wants to lower interest rates this September
▼ + stars: | 2024-05-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

It’s interesting to me that the equity market is cheering the idea that the Fed is going to be cutting rates. There tends to be a fine line between cutting rates and extending the economic cycle or cutting rates because the cycle is coming to an end (and the economy is softening). When the Fed is cutting rates, it’s cutting rates because a recession is about to happen, right? That’s why I say there’s a fine line between the Fed cutting to extend the cycle and the Fed cutting because a recession is about to happen. The Fed has been in this precarious space where they’re trying to avoid recession while lowering interest rates.

Persons: Dow, stoking, Bell, Tom Porcelli, Jerome Powell, Jay Powell, they’re, that’s, Donald, Goofy, Eva Rothenberg, Mickey Mouse, Snow White, Captain Hook, ”, Kate Shindle, “, Uber, Lyft, Jamie Long, Read Organizations: CNN Business, Bell, New York CNN — Markets, Federal Reserve, Fed, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Uber, Democratic, Minneapolis City Council Locations: New York, Anaheim , California, Minnesota, Minneapolis

☆ Disneyland character performers vote to unionize
▼ + stars: | 2024-05-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

Equity described the vote as “a landslide victory,” with 953 cast members favoring unionization and 258 opposed. There are more than 21,000 Disneyland “cast member” employees, who are represented by more than a dozen unions. “Whatever the outcome, we respect that our cast members had the opportunity to have their voices heard,” the spokesperson said. On the other side of the country, Disney World character actors have been represented by Teamsters since the 1980s. Today, Equity estimates they represent around 800 cast members at Disney World.

Persons: Donald, Goofy, Mickey Mouse, Snow White, Captain Hook, ”, Kate Shindle, “ Organizations: New, New York CNN, ’ Equity Association, Equity, National Labor Relations Board, Disneyland, Disney, ’ Equity, Walt Disney Company, Walt Disney, ”, CNN, Disneyland Resort, Teamsters Locations: New York, Anaheim , California, Orlando , Florida

☆ Disneyland Character Workers at California Park Vote to Unionize
▼ + stars: | 2024-05-19 | by ( Johnny Diaz | ) www.nytimes.com time to read: +1 min

A majority of Disneyland cast members who perform as characters such as Mickey and Minnie Mouse and dance in parades at the amusement park, in California, voted to unionize with the Actors’ Equity Association on Saturday, the union said. The Actors’ Equity Association, the national labor union that represents more than 51,000 professional actors and stage managers, said it had exceeded the threshold it needed in a vote overseen by the National Labor Relations Board, winning a 79 percent majority with 953 yes votes and 258 no votes, according to a statement. Among the key issues that brought workers together to fight for representation in future negotiations with the company were securing improvements in safety and scheduling and demanding “a living wage,” as well as other workplace benefits, the union said. “They say that Disneyland is ‘the place where dreams come true,’ and for the Disney cast members who have worked to organize a union, their dream came true today,” Kate Shindle, the actor association’s president, said in a statement on Saturday.

Persons: Mickey, Minnie Mouse, “, ” Kate Shindle, association’s Organizations: ’ Equity Association, National Labor Relations Board, Disney Locations: California

☆ Kate Shindle on Why She’s Stepping Down as Actors’ Equity President
▼ + stars: | 2024-04-04 | by ( Michael Paulson | ) www.nytimes.com time to read: +1 min

Kate Shindle, who has served as president of Actors’ Equity Association for nine years, is stepping down after a tenure dominated by the coronavirus pandemic that for a time idled all of the labor union’s members. Shindle, 47, said she expected to remain active in the labor movement, but that she was eager to resume working as an actor. The Equity presidency, leading a union that represents more than 51,000 theater actors and stage managers nationwide, is an unpaid, volunteer position. Because of the time required to manage the crises facing the union’s members, Shindle has worked so little as an actor that she hasn’t even qualified for her own union’s health insurance coverage. I’ve never been one who wanted to stay until the members threw me out.”

Persons: Kate Shindle, Shindle, hasn’t, Charlotte St, Martin, ” Shindle, “ We’ve, I’ve, ” Organizations: ’ Equity Association, Equity, Broadway League Locations: Charlotte

Workers who bring Disneyland’s beloved characters to life — including Mickey Mouse, Donald Duck and Cinderella — are looking to unionize. Labor organizers announced the campaign Tuesday, saying performers want better safety conditions and scheduling policies to help keep the magic alive for visitors. While most of the more than 35,000 workers at the Disneyland Resort already have labor unions, about 1,700 performers and character actors do not. “This isn't one of those situations where we're out making the employer the bad guy,” said Kate Shindle, president of Actors' Equity Association, which would represent the performers. Disneyland officials said in a statement that they believe cast members deserve the right to a confidential vote.

Persons: Mickey Mouse, Donald Duck, ”, Kate Shindle, Disney, — Taxin, Mike Schneider Organizations: Workers, Labor, Disneyland, Actors ' Equity Association, Disney, Disney California, Downtown Disney, Themed Entertainment, ’ Equity Association, Walt Disney Co, Associated Press, Actors, Equity, National Labor Relations Board Locations: Anaheim, Florida, Santa Ana , California, Orlando , Florida

☆ The wealth of middle class and lower-income Americans grew at faster rate than high earners early in the pandemic
▼ + stars: | 2023-12-04 | by ( Tami Luhby | ) edition.cnn.com time to read: +3 min

The median wealth of lower-income households shot up 101% between December 2019 and December 2021, while the middle class enjoyed a 29% increase. High earners had a median net worth of $803,400 in December 2021, while the middle class and lower-income households had nest eggs of $204,100 and $24,500, respectively, Pew found. Half of these households had a net worth of $500 or less in December 2021, compared to a net worth of $0 two years earlier. Poorer Hispanic households had a median net worth of $0, compared to a negative net worth of $1,100 at the end of 2019. Other government reports show that lower-income Americans lost ground in 2022.

Persons: Pew, ”, Rakesh Kochhar Organizations: CNN, Pew Research Center, Pew, Census Bureau Locations: White

☆ More US-China take-privates could get feisty
▼ + stars: | 2023-11-14 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

It is unusual to see a ruckus over a U.S.-listed Chinese firm. Would-be acquirors of Hollysys include the company’s own management, a buyout firm and a consortium including Chinese state-owned investors. The segment constitutes 65% of Hollysys’ top line, which has risen by over 50% from three years ago. The Hollysys affair suggests shareholders can expect a little bit more as Chinese companies bid farewell to the United States. The $26 per share cash offer represents a 26% premium to the closing price on Nov. 3.

Persons: Janet Yellen, Mark Schiefelbein, Hong, Recco, Kong’s, David Blennerhassett, Hollysys, Una Galani, Thomas Shum Organizations: Treasury, Lifeng, Rights, Reuters, U.S, Nasdaq, Oasis Management, Capital Partners, Quiddity Advisors, ABB, Emerson Electric, VNET, Ascendent Capital Partners, Automation Technologies, Recco Control Technology, Hong, Investment, Thomson Locations: Beijing, China, Rights SINGAPORE, United States, People's Republic, Washington, Hong Kong, U.S, Singapore

NEW YORK (AP) — President Joe Biden's reelection campaign is getting some big-name fundraising help Monday from Broadway’s top stars. Both Biden and first lady Jill Biden will attend the event, with tickets ranging from $250 to $7,500. Since at least Bill Clinton, Democratic presidents have cultivated intimate ties with powerful figures in the Hollywood entertainment industry. Biden himself raised roughly $1 million during an early 2020 campaign fundraiser at the home of Michael Smith and James Costos, a former HBO executive. That event was attended by former DreamWorks co-founder Jeffrey Katzenberg, now a Biden campaign co-chair.

Persons: Joe Biden's, Biden, Sara Bareilles, Lin, Manuel Miranda, Ben Platt, Jill Biden, Bill Clinton, Michael Smith, James Costos, Jeffrey Katzenberg, Katzenberg, “ Joe Biden, ”, Chris Korge, “, tycoons, Mickey Kantor, “ It’s, ” Biden, Donald Trump ’, Trump, Annaleigh Ashford, Alex Edelman, Josh Gad, Christopher Jackson, LaChanze, Ruthie Ann Miles, Leslie Odom Jr, Andrew Rannells, Aaron Tveit, Betsy Wolfe, Thomas Kail, Alex Lacamoire, Andy Blankenbuehler, Benj Pasek, Justin Paul, Amanda Green, ___ Slodysko Organizations: Writers Guild of America, SAG, Hollywood, Actors ’ Equity Association, General, Democratic Party, Democratic, HBO, DreamWorks, Biden, Democratic National Committee, Fund, White, GOP Locations: U.S, Manhattan, New York, Southern California, Hollywood, Los Angeles, California, LA, Washington

HONG KONG, Aug 31 (Reuters Breakingviews) - Prudential’s (PRU.L), new CEO has inherited an old problem. Wadhwani’s decision to lead the $35 billion company from Hong Kong underscores its focus. Its Hong Kong and London-listed stock trades at just over 13 times expected earnings for 2023, per Visible Alpha. Larger rival AIA, listed in Hong Kong, is valued at around 18 times. The group’s new business profit in the mainland slipped 16% to $171 million in the first half as Pru withdrew some products from the market.

Persons: Anil Wadhwani, Pru, Peter Thal Larsen, Thomas Shum Organizations: Reuters, AIA, HK, U.S ., Prudential, Investments, Thomson Locations: HONG KONG, U.S, Greater China, Hong Kong, London, China

SINGAPORE, Aug 11 (Reuters) - Singapore will hold a presidential election on Sept. 1 if more than one candidate is nominated to run for the largely ceremonial post, the government said on Friday. This year's presidential election in the diverse city-state will be open to all ethnic groups, unlike the last time, in 2017, when the post was controversially reserved for those of Malay ethnicity. The 2017 election was uncontested when applications from four candidates were rejected, sparking a rare protest by several hundred people in a city park who raised a banner with the message "ROBBED OF AN ELECTION #NotMyPresident". They will have to get certificates of eligibility from the Presidential Elections Committee to stand. Singapore has about 3.5 million citizens, about three-quarters of them ethnic Chinese, 12.5% ethnic Malay and 9% ethnic Indian, with the rest classified as Eurasians.

Persons: Halimah, Singapore's, Tharman Shanmugaratnam, Ng Kok, George Goh, Xinghui Kok, Jason Neely, Robert Birsel Organizations: Presidential, Thomson Locations: SINGAPORE, Singapore, Malay

☆ HSBC invites shy investors to turnaround party
▼ + stars: | 2023-08-01 | by ( Una Galani | ) www.reuters.com time to read: +4 min

The turnaround Quinn launched shortly after taking charge of the London-headquartered bank in 2019 is gaining momentum. In the three months to the end of June, HSBC almost doubled its pre-tax profit to $8.8 billion compared with the same period last year. He’s catching up with market expectations, too, aiming for a return on tangible equity in the mid-teens and echoing Visible Alpha’s consensus numbers for 15% this year, and almost 14% next. Crucially, Quinn and his newish finance chief, Georges Elhedery, can focus on improving the bank’s performance with fewer distractions. All shareholders, though, clearly still need some convincing to join HSBC’s turnaround party in earnest.

Persons: Noel Quinn, Quinn, Georges Elhedery, Ping, Antony Currie, Thomas Shum, Oliver Taslic Organizations: Reuters, HK, HSBC, Reuters Graphics Reuters, Ping An Insurance, Thomson Locations: MUMBAI, London, Hong Kong, China, Asia, Europe, North America, Canada

☆ First strippers’ union in a decade is expected to form this week
▼ + stars: | 2023-05-16 | by ( Natasha Chen | ) edition.cnn.com time to read: +2 min

The negotiation is expected following a settlement hearing with union attorneys. When ballots are officially opened later this week, the strippers are expected to overwhelmingly win the union election, forming the first known union of strippers in the United States since the nation’s only unionized strip club, the Lusty Lady, closed in San Francisco in 2013. But with stipulation from the National Labor Relations Board and involved parties, the Star Garden owners will seek to dismiss its bankruptcy case, so that it can reopen in 30 to 60 days. Velveeta, a stripper, addresses the crowd attending a rally in support of strippers from the Star Garden Topless Dive Bar on August 19, 2022 in North Hollywood. “Every worker who wants a union deserves a union.

☆ Strippers and California Club Reach Accord on Union After Long Fight
▼ + stars: | 2023-05-16 | by ( Noam Scheiber | Ava Sasani | ) www.nytimes.com time to read: +1 min

“We felt like we could help them,” Ms. Shindle said in an interview during last fall’s mail-in election. Some said the physical space was often hazardous, including exposed nails and holes onstage and broken glass on the floor. Lilith and other dancers asked not to be identified by their legal names for fear of being harassed or stalked. Another dancer, who uses the name Velveeta, said the club put dancers at risk by allowing customers to linger after hours. “Customers will be there watching us cash out, seeing the cash we’re taking with us,” she said.

☆ How Broadway Theater Owners Are Trying to Block a Times Square Casino
▼ + stars: | 2023-04-14 | by ( Dana Rubinstein | ) www.nytimes.com time to read: +1 min

Some New Yorkers may love Times Square; some definitely hate it. That also goes for a casino that may be headed there. Caesars Entertainment and SL Green Realty Corporation, New York City’s largest commercial landlord, say that Times Square — with its neon lights and jostling tourists — is tailor-made for their Jay-Z-backed bid for a parlor of one-armed bandits and roulette wheels. But Max Klimavicius, the owner of the century-old Sardi’s restaurant, would like a word. “A casino in Times Square has the potential to jeopardize the character of the theater district and ultimately the fate of its restaurants,” Mr. Klimavicius said.

☆ Individual Investors Slow Stock Purchases, Leaving Markets Vulnerable
▼ + stars: | 2023-04-02 | by ( Hannah Miao | ) www.wsj.com time to read: 1 min

A plunge in the purchases of Tesla shares has underpinned the drop in individuals’ equity buying. Individual investors are losing their appetite for U.S. stocks, leaving equity markets without a dependable leg of support after a rocky first quarter. They bought beaten-down shares with a fury at the start of 2023 and chased the momentum as the S&P 500 climbed. Net purchases of U.S. equities by individuals reached a monthly record in February, according to Vanda Research data going back to 2014.

☆ Toshiba buyout heralds a big step back for Japan
▼ + stars: | 2023-01-20 | by ( Una Galani | ) www.reuters.com time to read: +7 min

MUMBAI, Jan 20 (Reuters Breakingviews) - The end of a long battle to wring some value from Toshiba (6502.T) is finally within reach. Such an outcome won’t encourage private equity firms, and big policy shifts underway may stifle the industry just as it hits a new high. Instead, after an accounting scandal in 2015, Toshiba came to epitomise Japan Inc’s pervasive value destruction. Japan typically outperforms private equity deals in other developed markets, partly because existing incentive structures for company bosses are so poor. The country’s private equity industry is only just finding its feet.

FTX co-founder Sam Bankman-Fried, who is accused of misappropriating billions of dollars deposited in the crypto currency exchange, will be released on $250 million personal recognizance bond, a federal judge in New York ruled Thursday. Bankman-Fried, wearing a dark blue suit and tan shoes, walked into court with shackles around his ankles. A recognizance bond is a written commitment from the accused to appear in court when ordered. Bankman-Fried’s parents, both Stanford Law professors, were in the courtroom. Sam Bankman-Fried, center, arrives at the Magistrate Court building for a hearing in Nassau, Bahamas, on Dec. 21, 2022.

☆ SEC’s $1.5 Billion Problem With Stock-Market Middlemen Has a Complex Solution
▼ + stars: | 2022-12-15 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Securities and Exchange Commission Chair Gary Gensler has voiced concerns that the current system for executing individual investors’ equity trades is rife with conflicts of interest. The Securities and Exchange Commission believes small investors could pocket about $1.5 billion a year from better trade execution. The question is whether someone else’s wallet could lighten by that amount. A new series of SEC rule proposals are meant to address problems with equity market structure for investors, particularly for small investors when it comes to the practice of payment for order flow, or PFOF. That is when a brokerage such as Robinhood Markets or Charles Schwab sends retail orders to a wholesale market-maker such as Citadel Securities or Virtu Financial and collects payments.

☆ Blackstone strikes twice with Emerson carve-out
▼ + stars: | 2022-10-31 | by ( John Foley | ) www.reuters.com time to read: +4 min

The transaction employs an unusual structure similar to one Blackstone used successfully five years ago. It looks a lot like the deal Blackstone struck with Thomson Reuters(TRI.TO) – the parent company of Breakingviews – back in January 2018. Because debt accounted for around two-thirds of the purchase price, the quick sale roughly doubled the value of Blackstone and Thomson Reuters’ equity investments. Private equity group Blackstone will contribute $4.4 billion in cash, receiving a 55% equity stake in the business and a $2 billion convertible preferred note. Emerson, an industrial conglomerate that makes industrial instruments and software, will retain 45% of the division’s equity and a note worth $2.25 billion.

This fall, Ross made history as the first trans woman to ever play a leading role on Broadway. He added that Ross’ debut in the long-running American musical “opens the door to full acceptance” for the transgender community. “Black theater artists are asking for white American theater to see us and consider us in producing work,” Jackson said. The Black Theatre Coalition said it aimed “to remove the ‘ILLUSION OF INCLUSION’ in the American Theatre,” by combating racism and providing more work opportunities for Black artists, according to the group’s mission statement. “I hope there’s an Angelica Ross backstage, whether that’s in stage management, whether that’s in front of the house,” he said.

☆ North Hollywood strippers set to vote on joining a union
▼ + stars: | 2022-10-09 | by ( Natasha Chen | ) edition.cnn.com time to read: +5 min

Los Angeles CNN —Strippers at the Star Garden topless dive bar in North Hollywood will soon receive ballots to hold an election for collective bargaining, which may result in the first stripper union in the US in more than a decade. On Nov. 7, the NLRB will count the votes from Star Garden dancers, entertainers and DJs, determining if they will join the Actors Equity Association, a union of performers and other show business professionals. The facts are clear: The workers at Star Garden are entitled to a union election,” said Andrea Hoeschen, assistant executive director and general counsel for Actors’ Equity Association. “Most of the purportedly eligible voters have never been employees of Star Garden; they were in fact, and in law, merely lessees with no employment relationship,” Gaylord and Linker wrote. Since then, the dancers have been picketing most weekends outside the Star Garden, dressed in themed costumes, urging patrons to go to different clubs.

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