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☆ Earnings playbook: The first big week of the season includes reports from Netflix and big banks
▼ + stars: | 2024-10-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

Last quarter: Bank of America jumped after saying a rebound in net interest income was coming . What history shows: Bank of America shares have risen in 10 of the last 12 earnings days, according to Bespoke Investment Group. What history shows: Netflix tends to struggle on earnings days, averaging a slight decline, according to Bespoke. Shares have also fallen in two of the last three earnings days, including a 9.1% drop in April. What history shows: Bespoke data shows Procter & Gamble beats earnings expectations 85% of the time.

Persons: Goldman Sachs, Wells, Hugh Son, Goldman, Leslie Josephs, Wednesday Morgan Stanley, Morgan Stanley, Bryan Kraft, Kraft, Procter & Gamble, Procter, Lauren Lieberman Organizations: Netflix, Procter, Gamble, Big, Bank of America, JPMorgan Chase, BlackRock, Tuesday Bank of America, CNBC, Investment, LSEG, JPMorgan, United Airlines, U.S, Delta, Wednesday, Deutsche Bank, Procter &, Barclays Locations: Wells Fargo, U.S, China

☆ Hundreds of Amazon delivery drivers in New York join Teamsters union
▼ + stars: | 2024-09-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

An attendee holds a "Support Amazon Teamsters" sign during a rally with workers and union members as part of an "Amazon Teamsters Day of Solidarity" in support of the unionization and collective bargaining of Amazon delivery drivers at the Teamsters Local 848 in Long Beach, California, on Aug. 29, 2024. Hundreds of Amazon delivery drivers at one of the company's New York facilities joined the International Brotherhood of Teamsters, the union announced Monday, marking the latest escalation of organizing efforts in its logistics network. The drivers work for Cornucopia Logistics, DNA Logistics and Champion Logistics, a Teamsters spokesperson said. A majority of drivers at each of the contracted firms signed authorization cards to join the Teamsters, the union said in a release. Last week, Amazon announced it was hiking wages for contracted delivery workers as part of a $2.1 billion investment into the program.

Persons: Sean O'Brien Organizations: Solidarity, Teamsters, International Brotherhood of Teamsters, Cornucopia Logistics, DNA Logistics, Champion Logistics, Amazon, Drivers, National Labor Relations Board, NLRB Locations: Long Beach , California, York, New York's Queens, U.S, Palmdale , California

☆ Big Labor Gamble: Push to Unionize Every U.S. Auto Plant
▼ + stars: | 2024-03-02 | by ( Noam Scheiber | ) www.nytimes.com time to read: +1 min

When Shawn Fain, the United Automobile Workers president, unveiled the deal that ended six weeks of strikes at Ford Motor in the fall, he framed it as part of a longer campaign. “One of our biggest goals coming out of this historic contract victory is to organize like we’ve never organized before,” he said at the time. “When we return to the bargaining table in 2028, it won’t just be with the Big Three. It will be the Big Five or Big Six.”Four months later, the first test of that strategy has come into focus, and it features a Volkswagen plant in Chattanooga, Tenn. According to the union, more than half of over 4,000 eligible workers have signed cards indicating support for a union.

Persons: Shawn Fain, ”, Stellantis Organizations: United Automobile Workers, Ford Motor, Workers, Ford, General Motors Locations: Chattanooga , Tenn

☆ Has Starbucks Surpassed Amazon as the Villain of Big Labor?
▼ + stars: | 2024-02-23 | by ( Ginia Bellafante | ) www.nytimes.com time to read: +2 min

For more than a year, Felix Santiago has worked as a barista at a Starbucks near Times Square, and for about half that time he loved it. It was easy to swap shifts, easy to pick up new ones, easy to get along with supervisors who were largely accommodating. His rent, $1,000 a month, for a room in a Bronx apartment, was no longer manageable, he said, so he began bouncing around from sofa to sofa, from friend’s place to friend’s place. “I don’t have to tell you that Starbucks workers get our city moving every morning,” he wrote. “Their city stands with them in their push for fair conditions and workers’ rights.”But what did that mean in practice?

Persons: Felix Santiago, Mr, Santiago, Eric Adams, ”, “ Organizations: Starbucks, Local, Service Employees International Union, City, Department of Consumer and Worker, Workweek Law Locations: Times, Bronx

☆ Trump heads to Michigan with eyes on a Biden rematch but legal woes loom over campaign
▼ + stars: | 2024-02-17 | by ( Steve Contorno | Kristen Holmes | ) edition.cnn.com time to read: +8 min

A 2020 election denier’s tumultuous reign atop the Michigan Republican Party had only recently begun. Since then, the strike has ended and the top union representing Michigan autoworkers, United Auto Workers, has endorsed President Joe Biden. State party turmoilAhead of his visit, Trump and his allies sought to put an end to turmoil within the Michigan Republican Party, which has faced a reckoning over its readiness for the 2024 election. The state party ousted its chair, Kristina Karamo, last month in the face of internal strife and lackluster fundraising. The recent Fox News survey from Michigan found Biden leading Trump 53% to 41% among union households.

Persons: Donald Trump, Trump, Joe Biden, Nikki Haley –, Stormy Daniels, Friday’s, “, Biden, Hillary Clinton’s, Haley, Kristina Karamo, Pete Hoekstra, Hoekstra, Democratic Sen, Debbie Stabenow, ”, Jason Cabel Roe, it’s, – Trump, Trump’s, Shawn Fain, ” Trump, Fain, ” Fain, Cabel Roe, “ There’s Organizations: CNN, Michigan, Republican, GOP, Michigan Republican Party, Michigan autoworkers, United Auto Workers, Republicans, South Carolina Gov, Michigan GOP, Trump, Fox, Sneaker Con, South Carolina Army National Guard, Republican National, White House, Democratic, doesn’t, Republican Party, Biden, Big, Teamsters, UAW Locations: California, Michigan, New, York, ”, Georgia, Waterford Township, Detroit, Waterford, Trump’s Michigan, –, Philadelphia, South Carolina, State, Netherlands, Washington ,, Wisconsin, Pennsylvania

☆ Southwest Airlines pilot pay would increase 50% under new labor contract
▼ + stars: | 2023-12-19 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

Southwest Airlines and its pilots' union have reached a new preliminary labor agreement that would give pilots 50% cumulative pay increases over the life of the contract, a deal that could end years of tense negotiations. The five-year deal is worth about $12 billion, Casey Murray, president of the Southwest Airlines Pilots Association, told CNBC on Tuesday. In comparison, larger rival United Airlines ' new four-year pilot contract is worth about $10 billion, according to the aviators' union. Once the contract becomes amendable, Southwest pilots would get 2.5% annual bonuses until the airline and union reach a new agreement. FedEx pilots rejected an preliminary deal earlier this year, while UPS pilots' union is set to start negotiations in mid-2024.

Persons: Casey Murray Organizations: Southwest Airlines, Southwest, U.S, Southwest Airlines Pilots Association, CNBC, United Airlines, United, Delta, FedEx, UPS, U.S . Department of Transportation, Labor, Hollywood, United Auto Workers union Locations: Southwest

☆ Southwest, pilots' union near a preliminary labor deal, the last of the major U.S. airlines
▼ + stars: | 2023-12-01 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

The company and the union have agreed on pay, retirement and other items but are working on an implementation schedule, the Southwest Airlines Pilots Association said in a message to its members on Thursday. If a preliminary agreement is approved by Southwest pilots' union board in the coming weeks, it would then go to pilots for a ratification vote. Southwest and the union "are working hard to close out the few remaining items," an airline spokesman told CNBC. "Southwest remains committed to reaching an agreement that rewards our Pilots and places them competitively in the industry." Southwest reached a preliminary agreement with its flight attendants' union earlier this fall that includes 36% pay increases for cabin crew members.

Organizations: Southwest Airlines, Southwest Airlines Pilots Association, . Delta Air Lines, United Airlines, American Airlines, Southwest, CNBC, Hollywood, United Auto Workers

☆ Morning Bid: October market fillip as government stays open
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. U.S. Treasury yields, whose relentless rise of late has been at the heart of market disturbances as it prices "higher for longer" interest rates, pushed higher again on Monday too. Ten-year yields were up five basis points to 4.62% - just shy of last week's 16-year peak of 4.69%. Key developments that should provide more direction to U.S. markets later on Monday:* US Sept manufacturing surveys by ISM and S&P Global. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Kevin McCarthy, McCarthy, Goldman Sachs, Jerome Powell, Michael Barr, Loretta Mester, John Williams, Fitch, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Democratic, Republican, Ukraine, Treasury, Bank of Japan, of, Petroleum, Reuters, P Global, Cleveland Fed, New York Fed, Tech, Moody's, U.S . AAA, Chicago, Thomson Locations: New York City, U.S, Russia, OPEC, China, France, Italy, Spain, Germany, York

☆ California’s Big Labor Blowout
▼ + stars: | 2023-09-20 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/california-legislature-unions-gavin-newsom-bc324229

Persons: Dow Jones, gavin, newsom, bc324229 Locations: california

☆ Jobless Benefits for Susan Sarandon
▼ + stars: | 2023-08-28 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

For the first time since 1960, the TV and movie unions representing actors and writers are on strike over issues including better pay on streaming platforms like Netflix, Disney+ and Amazon Prime. Images: Zuma Press/AP/Getty Images/Reuters Composite: Mark KellyTo what extent does Big Labor control the Legislature in Sacramento? Consider that during the final days of the legislative session, Democrats are trying to jam through a bill to extend unemployment benefits to Hollywood actors and screenwriters as well as other workers who go on strike.

Persons: Mark Kelly Organizations: Netflix, Disney, Amazon Prime, Zuma Press, Getty, Big Labor Locations: Sacramento

☆ New Senate legislation seeks to revise national labor law, targeting port union workers
▼ + stars: | 2023-06-22 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

The legislation, sponsored by Idaho Republican Senator Jim Risch, would amend the National Labor Relations Act and the Labor Management Relations Act of 1947 to deter labor slowdowns and prohibit labor organizations from blocking the modernization of ports. It estimated a more widespread strike along the West Coast could cost approximately $1 billion per day. The recent union workers slowdowns impacted key transportation operations, including truckers, the freight rails and ocean vessels. As a result of the slowdowns, $5.2 billion in cargo was stuck off the West Coast ports. "The PLUS Act takes the important step of making intentional labor slowdowns an unfair labor practice.

Persons: slowdowns, Jim Risch, Ted Budd, Mike Crapo, Biden's, Julie Su, Risch, Biden, AB5, Budd, Crapo Organizations: Warehouse Union, Senate, Idaho Republican, National Labor Relations, Labor Management Relations, Pacific Maritime Association, U.S . Chamber, Commerce, Union Pacific, CNBC, Labor, California Labor, Workforce Agency, Capitol, Big Labor Locations: West Coast, West, Idaho, U.S, Los Angeles, Long, Port, Seattle, United States, North

Amazon delivery drivers at one of the company's California facilities joined the International Brotherhood of Teamsters, the union said Monday, in a win for labor organizers that have long sought to gain a foothold at the e-retailer. "We want fair pay and safe jobs, to be able to provide food for our families," said Rajpal Singh, an Amazon delivery driver at the Palmdale facility, in a statement. Randy Korgan, director of the Teamsters' Amazon division, said the union is "coordinating nationwide" with Amazon workers. So far, only one Amazon warehouse in the U.S. has voted to join a union. WATCH: Amazon drivers describe pressures and pitfalls of delivering for a DSP

☆ A Big Labor Partisan Named Julie Su
▼ + stars: | 2023-04-19 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Potomac Watch: Democrats belatedly admit Dianne Feinstein is too old to serve. Images: AP Composite: Mark KellyPresident Biden’s legislative agenda has little chance in the current Congress, but that means he’ll try to govern even more through regulation. It also means his regulatory and Cabinet nominees deserve extra scrutiny, and an example is Julie Su , his choice to run the Department of Labor. Currently the deputy secretary, Ms. Su has a record of putting union interests above those of individual workers or flexible business models that workers like but unions oppose. As labor secretary in California, she drove implementation of the state’s AB5 law, which reclassified independent contractors as employees.

☆ Big Labor Can’t Quit Shrinking
▼ + stars: | 2023-02-02 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Union members made up only 10.1% of the workforce last year, down from 10.3% in 2021, according to data released recently by the Labor Department. Though the annual changes look small, they add up: The workforce in 2012 was 11.3% unionized, and in 2002 it was 13.3%. Organized labor hasn’t been able to stop the trend, despite frantic unionization drives, including many aimed at nontraditional members, such as the university graduate students who march under the United Auto Workers banner. Private workers are 6% unionized, down from 8.6% two decades ago. For public workers, it’s 33.1%, down from 37.3%.

☆ The FTC Does Big Labor a Solid
▼ + stars: | 2023-01-07 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The Biden Administration’s rule by regulation is gaining speed, and the latest example is the Federal Trade Commission’s plan to ban non-compete employment agreements. In a flash, Lina Khan’s bureaucracy will rewrite labor contracts for 30 million workers. The FTC’s proposed rule is an air kiss to Big Labor, which demanded that the agency ban non-competes in 2019. Unions want opposition to non-competes as a tool in their organizing kit. Ms. Khan tweeted that one in five U.S. workers is currently “bound” by a non-compete clause that prevents them from switching jobs and thus keeps wages lower than they would be if the employees moved freely.

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