Streetbeat News

Labor Issues

UPS

UPS is set to resume negotiations with Teamsters next week to resolve remaining open issues. The company is prepared to increase its industry-leading pay and benefits, aiming to finalize a fair deal that provides certainty for customers, employees, and businesses across the country.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 7:37 pm

UPS

The Teamsters union has announced that UPS has reached out to resume negotiations. The details of the negotiations have not been disclosed.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 7:10 pm

FTTUSD

Constance Wang, former associate of the bankrupt FTX (CRYPTO: FTT), is set to lead gaming at Sino Global Capital. Wang previously held positions at FTX and its Bahamas affiliate FTX Digital Markets. Sino Global Capital, which had previously invested in FTX, is a crypto venture capital firm established in 2015. The news highlights the ability of former FTX employees to move on from the legal drama surrounding FTX's bankruptcy.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 5:10 pm

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DIS

In-N-Out, the California-based fast-food chain, will ban employees from wearing masks in five of its seven operational states starting August 14. The policy is being implemented to promote more effective communication. Employees in California and Oregon can continue to wear masks if they choose. The move could be a sign of how companies may cater to the political beliefs of their customers in different areas. Companies like Walt Disney Co and Anheuser-Busch Inbev have seen the effects of backlash from their customers over social and political issues.

Portfolio Pulse from Aaron Bry

July 19, 2023 | 4:32 pm

DIS

Walt Disney Co (NYSE:DIS) CEO Bob Iger is facing criticism over his comments on the ongoing media industry strike over wages and working conditions. Iger, who recently extended his contract through 2026, called the strike disruptive and suggested that the strikers' expectations might not be realistic. His comments have been met with backlash, especially considering his own wealth and spending habits. Disney shares have fallen since Iger reassumed the CEO position, and the strike could further impact the company's financial future.

Portfolio Pulse from Chris Katje

July 19, 2023 | 4:13 pm

GTBIF

An employee at Green Thumb Industries' (OTCQX:GTBIF) facility died from natural causes, according to a police report. However, the incident has raised safety concerns, with the cannabis workers union Teamster highlighting occupational hazards at the facility. The company has faced multiple complaints with the Occupational Safety and Health Administration (OSHA) alleging serious safety and health violations. The report also mentions a previous death at a Trulieve facility due to potential exposure to cannabis dust.

Portfolio Pulse from Nina Zdinjak

July 19, 2023 | 4:02 pm

AAL

American Airlines' bargaining teams are set to work around the clock for the next few days to address crucial improvements to a tentative contract agreement, according to a union memo.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 3:46 pm

AAL

American Airlines and its pilot union discussed the status of the tentative contract agreement on Tuesday. The CEO acknowledged that significant improvements must be made to the agreement.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 3:46 pm

DIS

GOOG

Walt Disney Company (DIS) is facing several challenges including a legal dispute with Google (GOOG) over Google Play Store billing policies, a lawsuit from Florida Governor DeSantis, and a combined strike from SAG-AFTRA actors and writers. These issues have led to a 13% drop in DIS shares over the last three months. However, Disney shares are currently trading 1.45% higher at $87.20.

Portfolio Pulse from Erica Kollmann

July 19, 2023 | 3:27 pm

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Columbia Care, Inc.’s Cannabist retail location in Deptford, NJ., has voted to ratify its first labor contract with United Food and Commercial Workers (UFCW) union, Local 360. The contract covers dispensary associates and senior dispensary associates, and its guaranteed wage increases are retroactive to March. This is the first U.S. location of Columbia Care to unionize. Other cannabis companies like Acreage Holdings, Curaleaf, and Trulieve have also seen their employees vote to unionize.

Portfolio Pulse from Vuk Zdinjak

July 19, 2023 | 3:01 pm