In the last week, Nabisco workers in five states have gone on strike to protest a new contract that would cut their pay and benefits. The company has been accused of outsourcing production to Mexico while also using automation to reduce costs. This is a symptom of a larger trend in American manufacturing, where companies are increasingly relying on robots and other non-human labor for tasks traditionally done by humans.
Oreos, the popular cookie sandwich that has been around for more than 100 years, are on strike. Workers at Nabisco’s Chicago bakery are striking because they want to be paid more and better benefits.
Briefing on Business Every Day
Updated on August 24, 2021
7:00 p.m. ET on August 24, 2021
7:00 p.m. ET on August 24, 2021
Snack items like Oreo cookies are made in factories where employees are on strike. Credit… Reuters/Dado Ruvic
Workers who manufacture Oreos, Chips Ahoy!, Newtons, and other Nabisco delicacies are on strike in five states, claiming that unreasonable demands for concessions in contract talks have forced them to go on strike.
In Colorado, Georgia, Illinois, Oregon, and Virginia, members of the Bakery, Confectionery, Tobacco Workers, and Grain Millers union have rejected management’s request for modifications in shift lengths and overtime regulations. Workers are also demanding the reinstatement of a pension plan, which was replaced with a 401(k) scheme by Nabisco’s owner, Mondelez International, in 2018 after a contract stalemate.
“We want our pension back,” said the group. In an interview, Mike Burlingham, vice president of Local 364 in Portland, Ore., said, “We earned that.” “This is a wonderful profession because it allows individuals to prepare for their retirement. That would be gone if the business had their way, and it wouldn’t be a job worth fighting for.” More than 1,000 employees are on strike, according to the union.
The previous deal had come to an end in May. Because of the increased demand for snack items during the epidemic, union members claim they’ve frequently worked 16-hour days.
The business is looking for shifts that allow certain workers to work up to 12 hours without overtime compensation but on fewer days per week. Those working weekend shifts, who were previously entitled for overtime compensation, would no longer be eligible until they worked 40 hours in a week. In addition, new recruits would pay more for health insurance than other employees.
“Our aim has been — and continues to be — to negotiate in good faith while also taking measures to update certain contract elements that were established many decades ago,” Mondelez International said in a statement.
Workers in Aurora, Colo., Richmond, Va., Chicago, and Norcross, Ga., joined the strike on Aug. 10, with the most recent strike occurring on Monday. Production was continuing, according to the business, using workers who were not covered by a union contract.
Members of the union claim they have been treated unjustly while Mondelez International has profited handsomely from the epidemic. In the three months ending in June, the business recorded a 12 percent increase in sales over the same period the previous year.
Employees have also demanded that the business “stop outsourcing our jobs to Mexico.” In 2016, some Oreo manufacturing was moved to Mexico, a decision that Donald J. Trump, then a presidential candidate, chastised. Nabisco facilities in Fair Lawn, N.J., and Atlanta were shuttered this year, but Mondelez claimed no work was transferred to Mexico.
The union’s president, Anthony Shelton, said in a statement that the union “will take all appropriate measures required in order to achieve a contract settlement that treats Nabisco employees fairly and equitably.”
On Saturday, money changers at their booths in Kabul. Credit… The New York Times’ Victor J. Blue
WASHINGTON, D.C. — On Tuesday, the World Bank said that it has suspended assistance payments to Afghanistan while it evaluates how the Taliban intend to govern the nation.
According to a World Bank spokesman, the international development agency is “extremely worried” about the situation in Afghanistan, especially the effect of the country’s new leadership on women. The bank intends to keep a close eye on the leadership change and communicate with foreign partners.
Since 2002, the World Bank has invested more than $5.3 billion in Afghan development projects and generated over $13 billion for the Afghanistan Reconstruction Trust Fund, which it manages. In 2021, the bank pledged roughly $800 million to the nation.
The decision comes after the International Monetary Fund (IMF) decided last week to halt the transfer of more than $400 million in emergency currency reserves to Afghanistan, citing uncertainty about the legitimacy of a Taliban-led administration.
Aid organizations will find it difficult to operate in Afghanistan due to economic restrictions imposed on the Taliban. Sanctions to replace a torrent of foreign assistance threaten to ruin what is already one of the world’s poorest nations.
The World Bank said it was looking at measures to maintain development achievements achieved over the past 20 years and to assist Afghanistan’s people.
The most well-known Wall Street firm, Goldman Sachs, has made a wide vaccination demand. Credit… Reuters/Brendan Mcdermid
Starting on September 7, Goldman Sachs will require everyone who visits the firm’s U.S. offices, including customers, to be fully vaccinated, making it the most prominent Wall Street bank to impose such a sweeping mandate.
The statement was made in a letter acquired by The New York Times a day after the Food and Drug Administration granted full clearance to the Pfizer-BioNTech vaccine, a step that many big companies had hoped for before implementing requirements.
President Biden took advantage of the FDA’s clearance, encouraging private companies to vaccinate their employees.
“If you’re a corporate leader, a nonprofit leader, a state or local leader, and you’ve been waiting for full FDA clearance to mandate vaccinations, I call on you to do it now,” Trump said on Monday. “Make it obligatory.”
Companies have been talking with advisors for months about whether or not to require vaccinations, but they are afraid of employee backlash and possible lawsuits. The rapid spread of the extremely infectious Delta variety, as well as early efforts by major companies such as Walmart and the Walt Disney Company, has accelerated such discussions. The Food and Drug Administration’s clearance on Monday has finally given them the confidence they need to go ahead.
Employees at Goldman Sachs were warned on Tuesday that anybody in the United States who had not been properly vaccinated by September 7 would have to work from home. It will also need weekly coronavirus testing for fully immunized workers.
As of Wednesday, the bank, which employs approximately 20,000 people in the United States, will reintroduce mask restrictions in all common spaces. Masks will be needed at all times in San Francisco and Washington, save when someone is eating or drinking.
Similar restrictions exist at other Wall Street institutions. Citigroup said this month that all workers and visitors to its New York headquarters would be required to be vaccinated when they return this autumn. Morgan Stanley announced in June that all employees and visitors to its New York offices would be required to be vaccinated. Vaccinations are highly recommended, but not required, for JPMorgan Chase employees.
Goldman Sachs’ statement came after a slew of others this week. Chevron said on Monday that vaccinations will be required for expats and employees who travel abroad, as well as for offshore workers in the Gulf of Mexico and certain onshore support staff. Pharmacists at CVS Health have until Nov. 30 to be completely vaccinated, while those who deal with patients and other corporate employees have until Oct. 31. For sailings to the Bahamas, Disney Cruise Line said on Tuesday that guests above the age of 12 must be properly vaccinated.
The FDA’s clearance also provides business organizations a legal basis to urge their members to be vaccinated — and to advocate against legislation that might thwart such efforts. The US Chamber of Commerce said this month that it would require vaccinations for its employees once the Food and Drug Administration has given them final approval. The Business Roundtable, a powerful lobbying organization, said Monday that mandates are a good idea.
In a statement, the group, headed by Walmart CEO Doug McMillon, stated, “Many businesses have taken the choice to require vaccinations for some or all of their workers, and we welcome their decision.” “We also urge politicians, particularly those at the state and municipal levels, to support rather than obstruct businesses’ capacity to make such a decision.”
At least three states — Montana, Texas, and Utah — have passed laws or issued executive orders prohibiting vaccination mandates because the three vaccines used in the US were given under emergency-use authorizations rather than full clearance. Some businesses, such as Norwegian Cruise Line in Florida, have fought such restrictions, but the majority have so far remained out of the fight.
There have been indications in the last month that businesses are becoming more interested in vaccination requirements. United Parcel Service said earlier this month that any employee returning to a support function office must be fully vaccinated, or have had one shot with a second planned, by Oct. 1. Workers in operational positions are exempt from the policy, but they are urged to be vaccinated.
According to Indeed, the percentage of job ads needing immunizations was up 90 percent from a month earlier as of Aug. 7. Those that need vaccines, on the other hand, make up a tiny percentage of the whole list.
The FDA’s approval may also make it easier to negotiate with unions, whose ambivalent attitude regarding mandates has led to a class split among employees. Disney World said on Monday that unions representing more than 30,000 employees have agreed to a requirement requiring staff to get vaccinated by October 22nd, citing the FDA’s complete clearance.
However, the United Food and Commercial Workers International, a union that represents 1.3 million workers in grocery stores, pharmacies, and meatpacking facilities, issued a statement on Monday warning against regulations that do not address employees’ concerns.
“With more companies contemplating vaccination mandates as a result of the recent FDA clearance, U.F.C.W. continues to encourage all businesses to discuss any vaccine obligations with their frontline workers,” said Marc Perrone, the union’s president. In earlier discussions with Tyson Foods over the meatpacker’s plan to compel its entire workforce to be vaccinated, the union had raised concerns about a lack of regulatory clearance.
The shot continues to elicit apprehension from unions and other industry organizations. Three out of ten unvaccinated individuals indicated they would be more inclined to receive a fully authorized F.D.A. vaccine in a recent survey, although other experts think this number is inflated.
As of Tuesday, several firms that had previously mentioned the vaccines’ clearance status had no new information to offer. Delta Air Lines CEO Ed Bastian told CNBC last month, “It’s extremely difficult for us to come in and impose a vaccination that isn’t even federally authorized yet.” “In that case, remain tuned.”
The airline’s intentions, according to a spokesperson, were “status quo,” with new recruits being required to get vaccinations and current personnel being strongly encouraged to get them.
More regulatory action that may make vaccination mandates simpler is on the way. Moderna submitted its complete clearance application for its vaccine in June, a month after Pfizer. Johnson & Johnson is anticipated to submit a complete application for approval in the near future. Another complication for corporate vaccination requirements is that the FDA is considering whether to allow booster injections for those who have already been completely vaccinated.
Daniel E. Slotnik and Niraj Chokshi contributed reporting.
Everett, Washington’s Boeing aircraft manufacturing facility. Credit… The New York Times/Ruth Fremson
The Federal Aviation Administration is investigating Boeing’s corporate culture, which, according to an agency official, “appears to impede” workers who are responsible for providing supervision, flagging safety issues, and generally promoting the agency’s interests.
The official, Ian Won, said the F.A.A.’s assessment was based on a recent poll of a few dozen of the 1,400 Boeing workers who work on the agency’s behalf via a program called Organization Designation Authorization, in a letter to the firm last week. According to him, Boeing’s structure seems to “give a significant influence” over how those workers are selected, supervised, and permitted to function, allowing “ample potential for interference rather than independence.”
Mr. Won said in the letter seen by The New York Times, “These issues need an impartial assessment and additional fact finding.”
The Wall Street Journal has previously reported on the F.A.A. investigation.
The agency’s use of business personnel to check for regulatory compliance has been criticized as enabling the aviation sector to police itself. However, supporters argue that the agreement is essential since the F.A.A. lacks the resources to effectively oversee the vast sector.
Last week’s letter was based on a May and June poll of 32 workers. According to the agency, over a dozen employees complained or related tales about how Boeing made it impossible for them to operate independently.
Concerns included finding that management would delay when design problems were highlighted so that the business could keep producing aircraft, and believing that a manager would shop around for approval if an employee didn’t give it, according to extracts from the survey answers.
Boeing stated in a statement that it was taking the issues seriously.
The business said, “We have constantly emphasized with our staff that given power is a privilege and that we must work hard every day to be trusted with the responsibility.” “We have made efforts to better educate our staff and make changes.”
The F.A.A. said in the letter that it will undertake a more comprehensive study of the workers assigned to defend its interests. The firm said that it was cooperating with the agency.
Shopify announced it was launching an in-app shopping platform on TikTok for hundreds of businesses in the United States and the United Kingdom. Credit… The New York Times/Ian Austen
On Tuesday, TikTok and Shopify, an e-commerce platform, announced that they were collaborating to allow users to buy straight inside the TikTok app for the first time.
TikTok is well recognized for being a video app that offers amusement and memes. Despite the fact that TikTok has a large number of influencers who often promote clothes, cosmetics, and home goods, users have not been allowed to purchase things directly from the app. Instead, TikTok users have only been allowed to purchase items via the app’s advertisements.
Shopify merchants that engage in a pilot test will be able to add a shopping tab to their profiles and link to goods inside TikTok postings as part of the new collaboration. This autumn, Shopify plans to roll out the functionality to all of its businesses.
TikTok joins Instagram and Facebook in providing in-app purchasing, part of a broader trend toward social commerce, or buying goods directly from a social media platform, as artists look for new ways to monetize their audiences.
In an interview, Shopify’s president, Harley Finkelstein, stated, “Social commerce is essential because it’s the new town square” where customers go to discover and purchase new goods.
According to Blake Chandlee, TikTok’s head of global business solutions, the move into in-app purchasing mirrors how consumers currently use the app to discover goods. According to a study done by TikTok in the autumn with London market researcher Walnut Unlimited, the app has encouraged two-thirds of users to buy even when they weren’t intending to. There have been 4.6 billion views of the hashtag #tiktokmademebuyit.
Kylie Cosmetics, Kylie Jenner’s cosmetics and skin-care line, which has two million followers on TikTok, is one of the businesses participating in the new trial program. Ms. Jenner has 34.9 million followers on her own TikTok account.
Ms. Jenner responded in an email that social media is “where I built my following and community.” “The opportunity to buy my goods directly on these platforms is critical since that is where our audience goes first,” says the author.
Sales on Shopify’s social commerce platforms, which include TikTok, Facebook, Instagram, Snapchat, and Pinterest, increased by 76% from February 2020 to February 2021, according to the company. Shopify works with 1.7 million merchants in total.
Families fleeing Afghanistan waited to board buses at Washington Dulles International Airport in Virginia on Monday. Credit… Associated Press/Jose Luis Magana
On Tuesday, Airbnb and its charity arm, Airbnb.org, announced that the business will offer free temporary accommodation to 20,000 Afghan refugees escaping the Taliban’s takeover.
The property rental business termed the displacement and resettlement of migrants a “major humanitarian catastrophe” as American and European governments rush to remove tens of thousands of people.
The cost of the lodgings will be paid by Airbnb and its CEO, Brian Chesky, as well as donations to the Airbnb.org Refugee Fund, which was launched in June with an aim of collecting $25 million. The group is collaborating with resettlement organizations and has volunteered to assist the federal and state governments.
“One of the most serious humanitarian problems of our day is the displacement and resettlement of Afghan refugees in the United States and abroad. On Twitter, Mr. Chesky said, “We feel a duty to stand up.”
“I hope this serves as an example to other corporate executives. He said, “There is no time to squander.”
Airbnb did not say how long migrants may remain in the flats or homes, but it did say that its hosts could accommodate both short and long-term visits. The business said last week that it has started assisting Afghans leaving the country by providing money to the International Rescue Committee and other groups to offer temporary lodging for up to 1,000 migrants using the Airbnb platform.
Airbnb claimed it put 165 refugees in accommodation throughout the United States over the weekend, including in California, New Jersey, Ohio, Texas, Virginia, and Washington.
For months, hedge funds have been behind the market. Part of the reason, according to the DealBook newsletter, is that their preferred companies, as assessed by a Goldman Sachs index of the most frequently held stocks by hedge funds, have only gained 4% in the last six months, compared to 16% for the S&P 500.
Beijing’s corporate crackdown caught hedge funds off surprise. Hedge funds have traditionally favored Asian equities, particularly those linked to China’s fast expanding economy, as they seek higher-than-average returns to justify their higher-than-average costs. However, China’s recent crackdown on the country’s biggest internet firms, especially those with U.S. listings, has harmed those investments.
At the end of June, nearly a third of the funds Goldman examined had an investment in foreign-listed shares of Chinese firms, the largest proportion it had ever recorded. Alibaba has dropped almost 30% since the end of June, making it a top holding of many hedge funds.
Hedge funds have also increased their bets on pandemic plays, putting more money into businesses that profited from pandemic lockdowns but have subsequently underperformed as the economy has reopened. Hedge funds, for example, hold more Amazon stock than they did a year ago, according to Bank of America. Peloton has also lately been one of the most popular stocks among hedge funds.
With coronavirus infections on the increase, banking on a pandemic-related slowdown or a return to more stringent social separation seems to be becoming more wise. And Chinese equities have plummeted to such low levels that bargain hunters are rushing in, causing stocks to rise from recent lows. Furthermore, the largest hedge funds seem to have little difficulty obtaining capital, as investors remain confident that their methods will pay off regardless of market circumstances.
On Tuesday, equities in the United States gained for the fourth day in a row. The S&P 500 index rose 0.2 percent to a new high, while the Nasdaq composite rose 0.5 percent.
Oil prices have risen. The U.S. oil benchmark, West Texas Intermediate, rose 2.9 percent to $67.54 a barrel.
The Pfizer-BioNTech coronavirus vaccine was given full clearance by the Food and Drug Administration for individuals aged 16 and above, which boosted travel and leisure supplies. American Airlines, Delta Air Lines, and United Airlines all saw their stock prices rise by more than 3%. Marriott International gained 2%, while Hyatt Hotels gained 4.6 percent.
Best Buy stock jumped 8.4% after the electronics store announced an almost 20% increase in revenue in the three months ending in July, as more consumers updated their technology.
In May, the Carnival Vista arrived in Galveston, Texas. A passenger and staff members tested positive for the coronavirus on a recent voyage; the person subsequently died. Associated Press/Sipa/Sipa/Associated Press/Sipa/Associated Press/Associated Press/Associated
On the Carnival Vista cruise ship operating out of Galveston, Texas, 27 coronavirus illnesses were discovered over the course of two weeks in late July and early August. One of them who were sick, a passenger, died subsequently.
It was the most instances onboard a ship recorded since cruises resumed in the Caribbean and the United States in June, and it was also the first fatality.
The Centers for Disease Control and Prevention (CDC) released a new advice last week, advising individuals with a higher risk of serious disease from Covid-19 to avoid cruise ships regardless of immunization status.
Carnival isn’t the only cruise company seeing an increase in instances. Six passengers aboard Royal Caribbean’s Adventure of the Seas cruise tested positive earlier this month.
In response to the recent rise in instances, the businesses have implemented pre-departure testing procedures for all passengers. On Aug. 7, Carnival implemented a mask requirement for both vaccinated and unvaccinated visitors in interior areas, as well as a smoking restriction in the casino.
Royal Caribbean’s chief executive officer, Michael Bayley, said the cruise company usually saw one or two positive instances each week out of more than 1,000 passengers per ship. “Testing captures status at a moment in time, and if the visitor is incubating illness, then the test will miss it,” Mr. Bayley stated in a frank Facebook post on the present coronavirus issue. According to the article, vaccinated visitors who test positive are usually asymptomatic.
Although some customers have canceled their cruises due to worries over the Delta version, many sailings are completely booked for the remainder of the year due to pent-up demand. READ THE ENTIRE ARTICLE
A new employee at Google, David Pantera, is concerned that the move to virtual orientation next month would harm his career. Credit… The New York Times’ Jason Henry
Workers who want to remain at home forever have been particularly loud about their demands, but the majority of Americans, at least for a few days a week, prefer to return to work. However, since the current coronavirus outbreak has caused businesses to postpone return-to-work plans, that bigger group is becoming more pessimistic, according to Kellen Browning of The New York Times.
In a nationwide poll of over 950 employees done by Morning Consult for The New York Times in mid-August, 31% indicated they would like to work from home full time. In contrast, 45 percent indicated they wished to work full time in a company or office. The remaining 24% preferred to divide their time between work and home. (Because Morning Consult polled employees from many sectors, white-collar office workers were represented alongside those in other professions, such as retail.)
Some individuals have clearly flourished in their new remote work environments. They saved time and money, as well as increasing production in certain cases. According to Tsedal Neeley, a Harvard Business School professor who has researched remote work for decades, the degree to which workers have adopted permanent remote or hybrid work arrangements has been “astonishing” to corporate leaders.
For others, however, it has obliterated necessary boundaries between work and family life, created isolation, and resulted in burnout, according to Professor Neeley. “Some individuals just hate working in front of a screen – their physique and closeness to others are important aspects of what work looks like,” she said.
Social butterflies, supervisors, new recruits eager to meet colleagues, and individuals with loud or congested homes are among those yearning for the rhythms of office life. READ THE ENTIRE ARTICLE
Transit Times for Cargo
Orlando, Florida is the destination.
Lead times are longer.
Because to port congestion and other delays, extra anchoring time (ships waiting to dock) is required.
When you arrive in
When you arrive in
Terminal for locals
Railways are a great way to travel.
by a year
nevertheless, there are wildfires
capacity may be defined as
Warehouses are a kind of storage facility.
full; it’s more difficult
to locate services
with a lot of room
Transit Times for Cargo
Orlando, Florida is the destination.
Cargo is ready to depart.
departing from Indonesia
Lead times are longer.
Extra mooring time
(ships awaiting docking)
this is taking place because
because to port congestion
many other setbacks
When you arrive in
British Columbia is a British territory.
When you arrive in
Ferndale is a town in the state of Washington.
Some delays are unavoidable.
Vancouver is a city in British Columbia.
having little difficulties
congestion towards the end
in order to make local deliveries
Deliveries via train
have been pushed back by
Despite the flames, trucking is still a viable option.
The capacity is enough.
Warehouses are overflowing;
It’s more difficult to come by.
amenities with plenty of room
The general manager of Catrike, which manufactures three-wheeled recumbent bikes, stated, “We’re waiting on $2 million in inventory for one $30 component.”
Container shipping prices from China and East Asia to the East Coast of the United States topped $20,000 earlier this month, up from about $4,000 a year ago. The time it takes for components from one of Catrike’s suppliers to reach in North America by sea from an Indonesian plant has increased to three months, and occasionally four months.
“This is going to be here for the rest of the year, and it will only grow worse because of the holiday season,” said the CEO of a maritime logistics company. READ THE ENTIRE ARTICLE
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