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Norfolk Southern' has underperformed both its peers and the broader market over the last year. Norfolk Southern responded on Monday, rejecting that slate and announcing it would nominate former Amtrak CEO Richard Anderson and former U.S. For Ancora, which has a successful track record as an activist investor, the proxy fight at Norfolk Southern would be its largest ever. EdgePoint controlled 3.4 million Norfolk Southern shares as of Dec. 31, or about 1.5% of shares outstanding. Norfolk Southern has yet to set a date for the annual shareholder meeting.
Persons: Alan Shaw, Norfolk Southern Scott Mlyn, John Kasich, Donald Trump, Ancora, Shaw, Jim Barber, Jamie Boychuk, Richard Anderson, North Dakota Heidi Heitkamp, Heitkamp, Anderson, Frank Blake, Matt Freed, Joe Biden, Biden, Trump, it's, there's, Ancora's, Hunter Harrison, Norfolk Southern, Martin Oberman, Oberman, Amit Bose, Bose, Jim Chadwick, Chadwick, Ancora beneficially, Barber, Boychuk, Harrison, Mandel Ngan, Ancora's Chadwick, Amy Miles, Miles, Claude Mongeau, CNBC's Leslie Picker, Heidi Heitkamp Organizations: Norfolk Southern, CNBC, Norfolk, Ancora Advisors, EdgePoint Investment Group, Republican, Amtrak, Delta Airlines, Cargill, Home Depot, U.S, Energy, Workers, East, Trump, Biden, Southern, PSR, Federal Railroad Administration, Surface Transportation, Federal, UPS, Teamsters, Canadian, . Norfolk Southern, CSX, Deutsche Bank, AFP, Getty Locations: Norfolk Southern, East Palestine , Ohio, Ohio, Norfolk, North Dakota, Medtronic, East Palestine, Cleveland, Ancora
"Essential grocery store workers would also suffer under this deal, facing the threat of their wages dwindling, benefits diminishing, and their working conditions deteriorating." Kroger said in a statement that blocking the deal "will actually harm the very people the FTC purports to serve: America's consumers and workers." The company also pledged $500 million to reduce prices for customers and $1 billion to raise employee wages and expand benefits. Two unions that represent Kroger and Albertsons employees, the United Food and Commercial Workers International Union and the Teamsters union, opposed the deal. Higher grocery prices have irked consumers and become a hot topic on the campaign trail.
Persons: Henry Liu, Kroger, Albertsons, Biden, Joe Biden, Rodney McMullen Organizations: U.S . Federal Trade Commission, Kroger, Albertsons, FTC, Washington D.C, Walmart, Amazon, Costco, White, United Food, Commercial Workers International Union, Teamsters Locations: Arizona , California, Washington, , Illinois, Maryland , Nevada , New Mexico , Oregon, Wyoming, FTC's
The 33 strikes last year is roughly double the average of 16.7 major strikes a year over the course of the last 20 years. A separate database of all work stoppages by Cornell University’s School of Industrial and Labor Relations shows that there were 451 work stoppages in 2023, up 9% from the 2022 total. So the major strikes of 1,000 or more account for less than 10% of the overall number of strikes. So many of the major strikes and contract negotiations that occurred in 2023 will not occur again in 2024. But that doesn’t mean there isn’t a chance of some major work stoppages this year.
Persons: Joe Biden Organizations: New, New York CNN, Labor Department, Bureau of Labor Statistics, SAG, Cornell University’s School of Industrial and Labor Relations, General Motors, Ford, Anheuser, Busch, Teamsters, CNN, Molson Coors, Hollywood, Writers Guild of America, Boeing Boeing, Boeing, Max, Alaska Airlines, Professional, American Airlines, Labor, Railway Labor Locations: New York, America, Fort Worth , Texas, Canada, Hollywood, Washington
New York CNN —More than 400 Teamsters are on strike at the Molson Coors brewery in Fort Worth, Texas, impacting production for North America’s second largest brewer. The work stoppage, which began Saturday, comes ahead of a March 1 strike deadline that the Teamsters have set for 5,000 members at Anheuser-Busch, the nation’s largest brewer. In its most recent statement on the state of those talks the union said a strike at Anheuser-Busch “appears unavoidable.”The Molson Coors strike comes as the company has been reporting strong sales and profits. Molson Coors said about 30% of its North American work force is unionized, but much of that is the workers at three Canadian breweries. “While we respect the union’s right to strike, we have strong contingency plans and are well equipped to ensure consumers will be able to buy their favorite Molson Coors products,” said the company’s statement.
Persons: Busch “, , Gavin Hattersley, Sean O’Brien, We’re, we’re, Molson Coors Organizations: New, New York CNN, Teamsters, Molson Coors, North, Anheuser, Busch, Molson Locations: New York, Fort Worth , Texas, North America’s, American, Fort Worth
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
“Make no mistake: Putin is responsible for Navalny’s death. A few moments earlier, Secretary of State Antony Blinken linked Navalny’s death directly to Russia’s president. Asked whether Navalny’s death might spur Congress to act in providing more Ukraine aid, Biden was hopeful. Even so, Johnson said in a statement Friday that Putin “is likely directly responsible” for Navalny’s death. “I made it clear to him that I believe the consequences of that would be devastating for Russia,” Biden said in Geneva, where the summit was held.
Persons: Alexey Navalny’s, Vladimir Putin, Joe Biden, Donald Trump, Putin, ” Biden, Roosevelt, “ Putin, ” Trump, Nikki Haley, Fani Willis ’, Trump, Putin’s, Biden, “ It’s, Kamala Harris, Antony Blinken, , , Mike Johnson, Johnson, Putin “, Tucker Carlson, Carlson, Trump’s, ” Haley, Truman, “ Trump, he’d, Navalny, we’re, ” Harris, Harris, Navalny’s, CNN’s Haley Britzky, Lauren Fox, Kate Sullivan Organizations: CNN, White, GOP, Fulton, NATO, Biden, Munich Security Conference, Republican, Republicans, Ukraine, Fox News, South Carolina Gov, South, Putin, Super, Ukraine wavers, , Trump Locations: Washington, Russia, Fulton County, Georgia, Europe, Moscow, Ukraine, Munich, United States, South Carolina, Michigan , Wisconsin, Pennsylvania, Latvian, Lithuanian, Polish, Geneva, Asia, transatlanticism
On a court where conservatives hold a 6-3 supermajority, including three Trump nominees, citing Scalia is no coincidence. The advocates are hoping to convince the justices that they can write off Trump’s arguments in a way that still squares with conservative legal principles. The Scalia concurrence, joined by Chief Justice John Roberts and two other conservatives, involved a dispute between the teamsters and a soda distributor. Supreme Court Justice Antonin Scalia and former President Donald Trump. “Many times, members of the court greatly respect each other but will disagree with what they’ve had to say,” Muller said.
Persons: Scalia, Donald Trump, Antonin Scalia, Trump, , , , Derek Muller, “ They’re, Conway, SCOTUS, CNN Trump, J, Michael Luttig, John Roberts, Joshua Blackman, South Texas College of Law Houston, Blackman, ” Blackman, Neil Gorsuch, Gorsuch, Samuel Alito, ” Alito, they’ve, ” Muller Organizations: Trump, CNN — Liberal, Capitol, Supreme, Notre Dame Law, CNN, United, Republican, Chief, teamsters, South Texas College of Law, Getty, Appeals, Colorado Republican Party, Congress Locations: United States, Colorado
Story highlights Biden goes to Michigan to meet with UAW members a week after receiving the union's endorsement Trump and Biden are battling for the votes of union members. While in Michigan on Thursday, the president will be meeting with UAW members, a Biden campaign official told CNN. The event, at a union hall near Detroit, will feature an “informal” conversation with union members, according to the campaign. In a fiery speech while delivering the group’s endorsement, UAW President Shawn Fain said Biden was the clear choice in a matchup with Trump. Since the group publicly backed Biden, Trump has hit back, slamming Fain as a “dope” and vowing that he could revive the automobile industry in the United States.
Persons: Joe Biden, Donald Trump, Biden, , Trump, Shawn Fain, “ Joe Biden, ” Fain, ” Biden, , Fain, Julie Chavez Rodriguez, Dearborn Mayor Abdullah Hammoud, ” Chavez Rodriguez, Rashida Tlaib, Chavez Rodriguez, Biden’s, Karine Jean, Pierre, , Jean Pierre Organizations: Washington CNN, United Auto Workers, Michigan, Teamsters, Trump, UAW, Wednesday, Biden, CNN, Democratic Party, Democratic, Dearborn Mayor, , White Locations: Michigan, Washington, Detroit, United States, Israel, Gaza, Eastern, California, Virginia
Most Biden supporters (68%) said they would be casting their vote against Trump as opposed to just 32% who said it would be a vote to support Biden. It’s the opposite for registered voters supporting Trump; 60% said it would be a vote for Trump compared with 40% who would be casting a vote against Biden. For now, Trump has an edge; he gets the support of 49% of registered voters in CNN’s poll compared with 45% who back Biden. Trump’s roseMore Americans have an unfavorable opinion of Biden than have an unfavorable view of Trump in CNN’s poll. Concerns about Biden’s age stickThe most-cited concern about Trump among Republicans and Republican-leaning registered voters is his demeanor.
Persons: Joe Biden, Biden, Donald Trump, SSRS, Trump, , Jennifer Agiesta, Ariel Edwards, Levy, Biden’s favorability, Trump’s, It’s, Haley, Nikki Haley, Jake Tapper, “ We’ve, ” Haley, Tapper, , I’m, He’ll, he’ll, souring, it’s, Kamala Harris, Hillary Scholten, CNN’s Manu Raju, ” Scholten, Raju Organizations: CNN, Trump, Biden, Republican, Quinnipiac, Republicans, Democratic, Haley Republicans, South Carolina Gov, GOP, Republican Party, Teamsters, United Auto Workers, UAW, Michigan Democrat Locations: CNN’s, Agiesta, Quinnipiac, Iowa, New Hampshire, Trump, – Pennsylvania, Wisconsin , Michigan, Georgia, Arizona, Nebraska, Washington ,, Belt, Michigan, , Israel, Gaza
Biden's meeting with UAW workers in the Detroit area will come just days after union President Shawn Fain announced the group's endorsement. said Abdullah Hammoud, the mayor of Dearborn, one of the largest Arab American communities in the nation. Biden is looking to build on that power as he seeks reelection and the state’s critical 15 electoral votes. Photos You Should See View All 45 ImagesHis visit to Michigan comes ahead of the state's Feb. 27 primary. The early endorsement by the UAW was a clear win for Biden, who came to Michigan to stand alongside striking autoworkers last year.
Persons: Joe Biden, Shawn Fain, Fain, — Joe Biden, , Abdullah Hammoud, Biden, Pennsylvania —, Donald Trump’s, Debbie Dingell, we've, Julie Chavez Rodriguez, Hammoud, Chavez Rodriguez, Israel, Sherry Gay, , ” Biden, Worm, Sen, Jeremy Moss, Donald Trump, Joe Biden’s, ” ___ Long, Fatima Hussein Organizations: DETROIT, United Auto Workers, Michigan, UAW, Democratic, White House, Arab, Biden, Teamsters, Wednesday, Health Ministry, Israel, AP VoteCast, Trump, Republican Locations: Gaza, Detroit, Michigan, Israel, Dearborn, . Michigan, Wisconsin, Pennsylvania, U.S, Washington, “ Michigan, Arab, Palestine, Tel Aviv, Grand Rapids, New, Grand Rapids , Michigan
The Federal Election Commission deadline is here for end-of-year finance reports that will reveal how much money the presidential candidates had raised recently, and how much cash their campaigns had on hand. The end-of-year fund-raising and spending reports can reveal a lot about the trajectory of a presidential campaign, and the health of its money operation. Spending by presidential campaigns alone — not counting super PACs — topped $4 billion for the 2020 election. Just this week alone, a Democratic super PAC supporting Mr. Biden began reserving $250 million in advertising in battleground states, scheduled to begin after the Democratic National Convention in August. For example, the main super PAC supporting Senate Democrats has about $61.5 million on hand, compared with $29.1 million for the top PAC supporting Republican Senate candidates.
Persons: Biden, Nikki Haley, Donald J, Trump, Haley, Mr, Tim Scott’s, Ron DeSantis’s, Michael C, Bender Organizations: Teamsters, Democratic, PAC, Mr, Democratic National Convention, Republican, Records Locations: South Carolina, Florida, New York, Washington, Iowa
No modern president has been as visceral about Washington as Trump – and his contempt offers insight into his politics and his character. Washington’s marbled monuments have also been the been the backdrop for some of the most notorious moments of Trump’s political career and have highlighted his autocratic leanings. In 2020, he tweeted that people protesting the death of Floyd would be met by “vicious dogs” if they breached the White House fence. Lyndon Johnson and George W. Bush were always keen to swap the White House for their Texas ranches. Presidents have also often ventured out of the White House for refreshment.
Persons: Donald Trump, Washington, , ” Trump, , Trump, He’s, Steve Bannon, he’s, George Floyd, Joe Biden’s, Floyd, Muriel Bowser, It’s, , Washington –, Franklin Roosevelt, Lyndon Johnson, George W, Bush, Biden, Barack Obama, Theodore Roosevelt, Ronald Reagan, Abraham Lincoln, he’d, John Kennedy, Richard Nixon, Jimmy Carter, Ulysses S, Grant, Andrew Johnson, Grover Cleveland, Warren Harding, Clinton, Obama, Rudy Giuliani, MAGA, Washington Trump, George Washington, State Thomas Jefferson Organizations: CNN, Brotherhood of Teamsters, GOP, Capitol, Democratic, Trump, Fox, Memorial, Washington, Civil Rights, Washington’s Democratic, White House, Northwest DC, USS, Republican, Democratic National Committee, – Air Force, Boeing, West Palm Beach, State, Washington , D.C, White Locations: Manchester , New Hampshire, Washington ,, Washington, Lafayette, St, John’s, , America, Springs, Georgia, Hyde, , New York, Texas, Virginia, Florida, New Jersey, Delaware, Chicago, Rock Creek, Northwest, West Palm, Georgetown, Trump, Pennsylvania, Athens, Rome, Republic
WASHINGTON (AP) — As he looks past the GOP primary and towards a likely general election rematch against President Joe Biden, Donald Trump will meet with members of the Teamsters Union in Washington Wednesday afternoon as he tries to cut into Biden's support. Trump is hoping to cut into that support as he casts himself as pro-worker and tries to exacerbate longstanding divisions between union leaders and rank-and-file members. While the Teamsters endorsed Biden in 2020 and Hillary Clinton in 2016, O'Brien stressed the union has “a very diverse membership. Wheaton estimates about 30% to 40% of its members voted for Trump in 2020, even though the union endorsed Biden. Teamsters members include UPS drivers, film and television workers, freight operators, members of law enforcement and other government workers.
Persons: Joe Biden, Donald Trump, Biden, Trump, Shawn Fain, “ Shawn Fain, ” Trump, , Sean O’Brien, ” Biden, Lauren Hitt, Biden “, O’Brien, , , Hillary Clinton, O'Brien, Wheaton, you’re, ” Wheaton, Fain, Nikki Haley, Trump’s, ___ Krisher, Seung Min Kim Organizations: WASHINGTON, GOP, Teamsters Union, Union, Democratic, AP, AFL, United Auto Workers, DJT, Automobile Industry, Workers, Teamsters, Trump, Fox Business, National Labor Relations Board, , Cornell University, Wheaton, Republican, UAW, UPS, American Federation of Teachers, American Federation of State, Municipal Employees, Associated Press Locations: Washington, Wisconsin, Michigan, Detroit, California, Wheaton, American Federation of State , County
Story highlights Trump is looking to attract union members, who have traditionally voted Democratic. CNN —Former President Donald Trump Wednesday met with Teamsters union leaders and members in Washington as his campaign tries to drive a wedge between President Joe Biden and one of his most loyal constituencies: organized labor. The Teamsters have twice endorsed against Trump, backing Hillary Clinton in 2016 and Biden four years later. “We’re not ceding any territory, any group, any demographic to Joe Biden,” one senior Trump adviser said of the campaign’s outreach to working class voters. The group said Biden had been invited to its headquarters on the same day as Trump.
Persons: Trump, Biden, Donald Trump, Joe Biden, Sean O’Brien, , John Palmer, , ” Trump, Nikki Haley’s, ” Haley, Olivia Perez, Cubas, , Robert F, Kennedy Jr, Cornel West, Asa Hutchinson, Marianne Williamson, Dean Phillips, ” O’Brien, Shawn Fain, Sean O'Brien, Sara Nelson, Elizabeth Frantz, Reuters O’Brien, Sen, Markwayne Mullin, O’Brien, Mullin, Vermont Sen, Bernie Sanders, Hillary Clinton, “ We’re, Fain, Cole Scandaglia, ” Fain, ” Biden, Kara Deniz, CNN’s Arlette Saenz, MJ Lee Organizations: Democratic, Teamsters, United Auto Workers, CNN, Biden, Trump, United States Army Veteran, Republican, ” Former South Carolina Gov, GOP, UPS, Arkansas Gov, Teamsters Union, UAW, Capitol, Reuters, Oklahoma Republican, Drake Enterprises, Ford, General Motors, National Labor Relations Board, Department of Transportation, Auto Workers, Automobile Manufacturing Industry Locations: Washington, Michigan , Wisconsin, Pennsylvania, Lago, United States, Arkansas, Minnesota, Washington ,, Oklahoma, Vermont, Detroit, Michigan
UPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both internationally and domestically, in its fourth-quarter earnings report. The company also announced 12,000 layoffs as part of an effort to align resources in 2024. The workforce reductions will save the company about $1 billion in costs, CEO Carol Tomé said on a company earnings call. Adjusting for one-time items related to pensions and intangible assets, UPS earned $2.47 per share. The company reported a 7.4% drop in average daily volume domestically and an 8.3% decrease internationally.
Persons: Carol Tomé, Tomé Organizations: United Parcel Service, UPS, Teamsters Locations: Cape Cod, Orleans , Massachusetts, Europe
UPS is cutting 12,000 jobs
  + stars: | 2024-01-30 | by ( Chris Isidore | ) edition.cnn.com   time to read: +2 min
New York CNN —UPS announced Tuesday that it will cut 12,000 jobs as part of a bid to save $1 billion costs. UPS lost business last year as customers concerned about a possible strike by the Teamsters shifted shipments to rival carriers, such as FedEx. Although UPS said it expects to get most of that business back, it had won back only about 60% of that lost business. UPS’ business surged to record levels in the first three years of the pandemic, as online shopping exploded. UPS’ (UPS) stock sank 7% on Tuesday.
Persons: Refinitiv, , Carol Tome, , Brian Newman Organizations: New, New York CNN, UPS, Teamsters, FedEx, UPS ’ Locations: New York
UPS is set to reduce its headcount by 12,000 jobs in 2024 following a historic pay agreement with its drivers. UPS CEO Carol Tomé cited soft demand and the recent labor contract as reasons for missing analysts' expectations on a Tuesday earnings call. AdvertisementUPS also told analysts that its employees are expected to work in the office five days a week. Tomé told analysts that expected revenue for 2024 would be between $92 billion and $94.5 billion. AdvertisementTomé hinted at how UPS might try to offset the costs of such a deal in a September interview with CNBC.
Persons: , Carol Tomé, Tomé Organizations: Service, UPS, Business, Teamsters, CNBC
United Parcel Service plans to cut about 12,000 jobs this year as the company tries to slash costs in the face of falling package volumes and higher wages linked to a union contract it signed in the summer. Ms. Tomé said most of the job cuts would happen in the first half of the year and reduce expenses by about $1 billion. UPS narrowly averted a strike in the summer when the union that represents more than 300,000 of its workers, the International Brotherhood of Teamsters, threatened to walk off the job if a labor agreement that included higher wages wasn’t reached. A contract settlement was reached shortly after the previous agreement expired, but the uncertainty about a potential walkout hurt the company’s package volumes. UPS said about 60 percent of the volume it lost during the standoff had returned by the end of December.
Persons: Carol Tomé, Tomé, wasn’t Organizations: Parcel Service, UPS, ” Revenue, International Brotherhood of Teamsters
High-profile strikes by writers and actors against Hollywood brought the union power to the mainstream as pictures of celebrities holding picket signs flooded social media. But one big win continues to elude labor: the need to translate its rising popularity into an increase in rank-and-file union membership, which has stagnated in recent decades. It's not a lack of support from the public that's holding unions back from making more progress in growing their ranks. Even before the big wins of 2023, polling conducted in recent years showed rising union popularity, with support at its highest level since 1965, according to 2022 data from Gallup. 'The Great Reset'In 2023, it was a banner year for American workers who support the labor movement.
Persons: Biden, , Heidi Shierholz, I've, Thomas Kochan Organizations: United Auto Workers, UAW, Local, Chrysler Corporate, Division, Hollywood, UPS, Teamsters, Bureau of Labor Statistics, Union, Economic Policy Institute, Gallup, AFL, CIO, MIT Sloan School of Management, Cornell, ILR, SAG, Writers Guild of America Locations: Ontario , California, American, Michigan, America
Read previewWalmart store managers are set to see a significant bump in pay next month. The retail giant announced Thursday it will increase salaries for US store managers, bringing the average from $117,000 to $128,000 a year, and offer a bonus of up to 200% base pay. This story is available exclusively to Business Insider subscribers. Walmart told Business Insider the changes will take effect on February 1. Store managers at the lowest end of the salary range are set to see the largest increases, jumping from $65,000 to $90,000, while the top end will remain at $170,000, the company told BI.
Persons: , Cedric Clark, Clark, Doug McMillon Organizations: Service, Business, Walmart, Teamsters
Howard Weaver, a self-described “poor kid from a shabby neighborhood,” was 24 years old and terrified when he was assigned by the floundering Anchorage Daily News to expose a rapacious chapter of the Teamsters union that was corruptly profiting from Alaska’s oil pipeline boom. “Any way you sliced it,” he recalled, “the odds were against us, a mismatch of Goliathian proportions.”But Mr. Weaver was hungry. Hungry enough that after months of investigative reporting, he and his colleagues exposed “a complex maze of political, economic and social power,” which, they wrote, “challenges at times both mighty industry and state government itself.”Three weeks before The Daily News declared that it was on the brink of bankruptcy, the scrappy newspaper with a circulation of about 13,000 was awarded the Pulitzer Prize for public service in 1976 for its reporting on Teamsters Local 959. It was the smallest paper and the first in Alaska to win the coveted medal.
Persons: Howard Weaver, , Weaver Organizations: Anchorage Daily, Teamsters, Daily News Locations: Anchorage, Alaska
New York CNN —The longest US auto strike this century is over after a pretty clear win for the United Auto Workers union at all three unionized automakers. “I don’t like what I’ve seen in my work career with the UAW leadership, where they were too damn close to the companies,” UAW President Shawn Fain told CNN earlier this month. So I like to let the body of work speak for itself.”The success of those contracts is the reason that Shawn Fain is CNN Business’ labor leader of the year. All told nearly 800,000 union members got raises of 10% or more during 2023. The plant will be be reopened under the agreement reached between Stellantis and the UAW to end the union's strike at the company.
Persons: Shawn Fain, there’s, Fain, , , I’ve, Sean O’Brien, Fran Drescher, Ted Pappageorge, Bill Greenblatt, Wheaton, Jeff Schuster, It’s, Stellantis, Bianca Flowers, Reuters “, Ray Curry, GlobalData’s Schuster, ” Shawn Fain, we’re Organizations: New, New York CNN, United Auto Workers, UAW, CNN, CNN Business, UPS, SAG, Writers Guild of America, Culinary, Kaiser Permanente, General Motors, Ford, Motors Wentzville, GM, UPI, Cornell University’s School of Industrial and Labor Relations, GlobalData, Jeep, Reuters, Justice Department, Chrysler, Facebook, UAW International Union Locations: New York, Las Vegas, Stellantis, Wentzville , Missouri, Kokomo , Indiana
Yellow Corp. trailers sit idle at a YRC shipping facility in North Reading, Massachusetts, U.S., August 16, 2023. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsDec 5 (Reuters) - Trucking company XPO Inc (XPO.N) won a bid to buy 28 service centers of bankrupt Yellow Corp for $870 million in a closely watched auction of the nearly 100-year-old firm's assets. Yellow, formerly known as YRC, filed for Chapter 11 bankruptcy protection in August after blaming the International Brotherhood of Teamsters union for its demise. The U.S. Bankruptcy Court in Delaware will hold a hearing on Dec. 12 to approve the bids. Yellow's bankruptcy process was closely watched after its demise potentially saddled U.S. taxpayers with losses stemming from a government rescue.
Persons: Brian Snyder, XPO, Jonathan Chappell, XPO's, Aishwarya Jain, Pooja Desai, Krishna Chandra Organizations: Yellow Corp, REUTERS, Trucking, XPO Inc, International Brotherhood of Teamsters, Walmart, Evercore ISI, Estes Express Lines, Swift Transportation Holdings, U.S, Bankruptcy, Thomson Locations: North Reading , Massachusetts, U.S, North America, Delaware
DETROIT (AP) — Casino workers for MGM Grand Detroit have voted to ratify a new contract, ending a 47-day strike. MGM Grand Detroit workers are union members of the Detroit Casino Council, which represents nearly 4,000 employees of the city's three casinos. Their approval Saturday on a five-year agreement comes weeks after unionized workers reached an agreement with other two casinos following a roughly one-month strike. Workers at MGM Grand Detroit, Hollywood Casino at Greektown and MotorCity Casino walked off the job Oct. 17 over issues including health care and wages that had not kept up with the cost of living. "We’re excited to welcome our team back and continue providing our guests the entertainment experiences for which MGM Grand Detroit is known,” Matt Buckley, President and COO of Midwest Group, MGM Resorts International, said in a Saturday statement.
Persons: , Gabriel Robert Hernandez, ” Matt Buckley Organizations: DETROIT, , MGM Grand Detroit, Detroit Casino Council, Workers, Hollywood, MotorCity, Teamsters, MGM, Detroit, Midwest Group, MGM Resorts International Locations: Greektown
CNN —Amazon just inked a deal with chief competitor and Elon Musk-helmed SpaceX to launch internet-beaming satellites — a move that comes even as Amazon founder Jeff Bezos pursues his own space dreams with his own rocket company, Blue Origin, and as SpaceX builds its own internet constellation. Some Amazon satellites will still ride on a large rocket made by Blue Origin, dubbed the New Glenn. Amazon is working to build a constellation of thousands of internet satellites, called Project Kuiper, that is planned to beam connectivity across the planet. The Jeff Bezos-founded company made headlines in April 2022 when it signed a contract worth billions of dollars to launch Kuiper satellites on 77 rockets built by Blue Origin — another Bezos-founded venture — as well as ULA and European launch provider Arianespace. In an interview last month, Rajeev Badyal, vice president of technology for Project Kuiper, told CNN the prototypes were wholly successful.
Persons: Elon Musk, Jeff Bezos, Musk, Glenn, it’s, SpaceX’s, Lockheed Martin, , , Amazon, Rajeev Badyal, Kuiper, ” Badyal, Badyal Organizations: CNN, SpaceX, Amazon, SpaceX Falcon, United Launch Alliance, Boeing, Lockheed, , Cleveland Bakers, Teamsters, Fund Locations: ULA, European
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