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☆ Wall St Week Ahead As earnings loom, investors weigh recession resilience
▼ + stars: | 2023-07-07 | by ( David Randall | ) www.reuters.com time to read: +5 min

The financials sector is down 2%, while energy is nearly 9% lower. These unloved sectors are growing attractive to investors increasingly torn over whether a long-feared U.S. recession will ever materialize. Quincy Krosby, chief global strategist for LPL Financial noted a "tug of war" in the market over the likelihood of a recession. The healthcare sector trades at a forward price-to-earnings ratio of 17.6, well below the 20.1 ratio of the broad S&P 500. Yet a continued rally in megacaps will likely stretch their valuations further, prompting some investors to rotate toward healthcare and financials, LPL Financial's Krosby said.

Persons: Goldman Sachs, Quincy Krosby, Sameer Samana, Max Wasserman, Financials, Tom Ognar, Morgan Stanley, John Quealy, Financial's Krosby, David Randall, Megan Davies, Michelle Price, Richard Chang Organizations: YORK, Global, BofA, Commerce Department, LPL Financial, Reserve, Wells, Wells Fargo Investment Institute, FINANCIALS, Miramar Capital, Abbott Laboratories, Allspring Global Investments, LPL Financial Holdings Inc, Trillium Asset Management, Russell, Thomson Locations: U.S, BlackRock, Wells Fargo, megacaps

☆ Google opposed a shareholder proposal asking for more transparency around its AI algorithms
▼ + stars: | 2023-06-02 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +5 min

Google has opposed a shareholder's call for more transparency around its algorithms. CEO Sundar Pichai emphasized the potential of new generative AI and added safety is essential. Google's parent company Alphabet opposed a shareholder proposal that sought increased transparency surrounding its algorithms. It argued that accountability and transparency in artificial intelligence are needed if the technology is to remain safe to society. Google in its opposition to the proposal said that it already provides meaningful disclosures surrounding its algorithms, including through websites that provide overviews of how YouTube's algorithms sort content, for instance.

Persons: Sundar Pichai, Pichai, We've, Geoffrey Hinton, Timnit Gebru, ProPublica Organizations: Google, Trillium Asset Management, Trillium, New Zealand Royal Commission, Mozilla Foundation, New York University, SEC, Google's Locations: Christchurch, Saudi Arabia

☆ Starbucks shareholders want more information about the company’s anti-union efforts
▼ + stars: | 2023-03-30 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

New York CNN —Starbucks’ investors have voted in favor of an independent review of the company’s aggressive anti-union efforts. The assessment would include remedies if it finds that Starbucks has broken its own stated commitment to workers rights. Starbucks workers rally in celebration of the first anniversary of the union's founding on December 9, 2022 in New York City. Over the past year and a half, Starbucks has been waging a bitter fight against unionization efforts. During a hearing before the Senate Health, Education, Labor, and Pensions Committee about the company’s labor practices on Wednesday, one former employee said he was wrongfully fired after organizing.

☆ Starbucks shareholders to vote on proposals for labor probe, succession planning
▼ + stars: | 2023-03-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Shareholder votes aren't binding, so the board can reject proposals even if a majority of investors vote in favor. More than 190 company-owned Starbucks locations have voted to unionize under Starbucks Workers United, according to National Labor Relations Board data as of Friday. Members of a recently formed union of Starbucks workers hold a rally to celebrate the first anniversary of their founding, December 9, 2022 in New York City. Apple, unlike Starbucks, agreed to perform the assessment without waiting for a shareholder vote. But Trillium has more than two decades of experience putting shareholder proposals before Starbucks' board.

[1/3] Starbucks workers attend a rally as they go on a one-day strike outside a store in Buffalo, New York, U.S., November 17, 2022. Employees at more than 280 out of its roughly 9,000 company operated U.S. locations have voted to join a labor union since 2021. The National Labor Relations Board (NLRB) has accused Starbucks of unlawful anti-union tactics at stores across the country, including allegedly firing pro-union workers. ISS concluded that "there seem to be credible reasons that may lend support to various accusations" raised by Workers United, the NLRB and Starbucks. Starbucks also said it "commenced efforts to conduct a human rights impact assessment" including labor rights, and that it expects to make the results available to shareholders.

☆ Shareholders are asking rail companies to grant paid sick leave for workers because it's a 'prudent investment'
▼ + stars: | 2022-12-05 | by ( Juliana Kaplan | Hannah Towey | ) www.businessinsider.com time to read: +6 min

Some rail investors are calling for companies to adopt a proposal to give workers paid sick leave. Currently, rail workers technically have no paid sick leave, a key demand in their contract negotiations. Now, some railroad shareholders want reasonable paid sick leave to be included as a benefit. "Getting workers paid sick leave cuts down on disease spread dramatically, leading to fewer absences. Now, additional paid sick leave could be put to a vote, if the shareholders pushing rail companies to consider it get their way.

☆ U.S. railroad investor resolutions urge paid sick leave for workers
▼ + stars: | 2022-12-05 | by ( Ross Kerber | ) www.reuters.com time to read: +2 min

Dec 5 (Reuters) - Investors have proposed shareholder resolutions at two U.S. railroads calling for paid sick leave for workers, an issue that nearly caused a national rail strike, and they could go to an advisory vote at shareholder meetings in the spring. But the deal he approved did not include paid sick days for workers, a key sticking point for unions in contract talks with five major U.S. railroads. read moreProposals seen by Reuters filed by activist investors ask Norfolk Southern Corp (NSC.N) and Union Pacific Corp (UNP.N) to offer "a reasonable amount" of paid sick time, determined by company directors. Kate Monahan, a director at Trillium Asset Management, the socially minded investor that filed the resolution at Union Pacific, said more flexible sick time would have broader benefits like reducing workforce turnover. Railroads worry implementing paid sick leave would require more employees at a time when many have cut their workforces dramatically.

☆ P&G faces challenge to CEO Moeller as chairman from environmentalists, investors
▼ + stars: | 2022-10-10 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +3 min

Boxes of Tide detergent, a Procter & Gamble product, sit on a shelf at a store in Alexandria, May 28, 2009. Register now for FREE unlimited access to Reuters.com RegisterThe groups request replacing Moeller with an independent chair. Norway's sovereign wealth fund also plans to vote against Moeller, according to a voting notice on its website. Institutional Shareholder Services Inc and Glass Lewis, firms that make widely-followed recommendations on voting for investors, said shareholders should support Moeller and the two directors. ISS said investors should take caution when supporting Moeller and the directors because of "ongoing concerns" regarding deforestation.

She likened the climate contributing to the couple's decision to leave Texas to "death by a thousand paper cuts." The business risks to recruiting is especially high for oil companies, already unpopular with graduates of engineering programs, said Jonas Kron, chief advocacy officer at Trillium Asset Management. Texas Governor Greg Abbott has acknowledged the state is losing workers, but does not regret the departures. Oil companies contribute to politicians who advocate for free trade, tax and energy policies through political action committees (PACs). Dawn Seiffert, 52, and her husband, an oil company employee, returned to Texas in 2012 and planned to stay.

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