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New York CNN —Party City is closing down all of its stores, ending nearly 40 years in business, CNN has learned. CEO Barry Litwin told corporate employees Friday in a meeting viewed by CNN that Party City is “winding down” operations immediately and that today will be their last day of employment. Party City’s “very best efforts have not been enough to overcome” its financial challenges, he added, resulting in the company’s collapse. Bankruptcy and collapseThe New Jersey-based company announced Litwin as its new CEO just four months ago. Party City is the largest party supply store in the United States.
Persons: Barry Litwin, ” Litwin, , Litwin Organizations: New, New York CNN — Party, CNN, Party, , City, ” Party City, Walmart, Costco, Big, Research Locations: New York, New Jersey, United States
NEW YORK (AP) — Once again, U.S. labor unions are flexing their muscles in the national spotlight. In Hollywood, the actors union reached a tentative deal with major studios late Wednesday to end a months-long strike. UNION RATES HAVE BEEN FALLING FOR DECADES. Only 6% of U.S. private-sector workers belong to unions today, a sliver of the 35% that were union members in 1953. That means that what worked in auto workers' labor campaign, for example, may not look the same or be possible in other industries.
Persons: , ” Alexander Colvin, , Eunice Han, Adam Seth Litwin, Litwin, Todd Vachon, Taft, Hartley, Vachon, Ronald Reagan, , haven't, John F, Kennedy, ” Vachon, Han, Colvin, ” Colvin, Creighton Organizations: Hollywood, Caesars Entertainment, MGM Resorts International, United Auto Workers, Detroit, Cornell University's School of Industrial and Labor Relations, Associated Press, Labor, University of Utah, Cornell University’s School of Industrial and Labor Relations, , Screen Actors, American Federation of Television, Radio Artists, Writers Guild of America, Rutgers School of Management, Labor Relations, AP, Bureau of Labor Statistics, National Labor Relations, Starbucks, Gallup Locations: U.S, Las Vegas, United States, Midwest
For individual consumers deciding whether to watch, it depends on their goal. “The question for all workers and consumers in any strike is: Which side are you on?” said Dan Cornfield, a professor of sociology at Vanderbilt University and a labor expert. When workers are striking, there are ways for consumers and members of the public to show their support. On the other hand, streamers may be able to weather a long strike because of the large inventory of content they’ve built up. “At the moment,” Litwin said, “it wouldn’t make a lot of sense to take this out on the theaters themselves.”
Persons: , Dan, Adam Seth Litwin, , Litwin, ” Litwin Organizations: Vanderbilt University, Cornell University, Netflix,
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