Gold Just Hit Another Record. This Junior Could Be Next.

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

Strike at Boeing was part of a new era of labor activism long in decline at US work places

JOHN LEICESTER
November 05, 2024

Aircraft assembly workers at Boeing factories near Seattle and elsewhere voted to end a seven-week strike overnight.

Leaders of the International Association of Machinists and Aerospace Workers district in Seattle said 59% of members who cast ballots agreed to approve the company's fourth formal offer and the third put to a vote.

Organized labor has made itself heard over the past couple of years, and the number of actions taken by unions has soared. There were 470 work stoppages (466 strikes and four lockouts) involving approximately 539,000 workers last year, according to Cornell University's School of Industrial and Labor Relations. The nearly 500 work stoppages resulted in approximately 24,874,522 strike days.

While the number of work stoppages increased by only 9% between 2022 and 2023, the number of workers involved in those work stoppages skyrocketed 141% to well over a half million workers, according to Cornell.

Unions including the UAW, the Teamsters and, most recently, the International Association of Machinists and Aerospace Workers, say they made the sacrifices asked of them by their companies during the pandemic and previous periods of distress for different economic sectors. Workers have stood firm on demands of late, however, saying that now is the time for companies, which have been consistently posting billions of dollars in profits every year, to catch up and pay workers what they are owed.

Here's a look at some recent standoffs between corporate America and workers.

Automakers and UAW

Late last year the United Auto Workers union overwhelmingly ratified new contracts with Ford and Stellantis, along with a similar deal with General Motors, that would raise pay across the industry and force automakers to absorb higher costs.

The agreements, which run through April 2028, ended contentious talks that began in the summer of 2022 and led to six-week-long strikes at all three automakers.

The new contract agreements were widely seen as a victory for the UAW. The companies agreed to dramatically raise pay for top-scale assembly plant workers, with increases and cost-of-living adjustments that would translate into 33% wage gains.

Top assembly plant workers were to receive immediate 11% raises and would earn roughly $42 an hour when the contracts expire in April of 2028.

Under the agreements, the automakers also ended many of the multiple tiers of wages they had used to pay different workers. They also agreed in principle to bring new electric-vehicle battery plants into the national union contract.

UPS and Teamsters

UPS workers that are members of the Teamsters union approved a tentative contract with the package delivery company last year. The run-up to the approval was acrimonious, with labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide.

After negotiations broke down in early July 2023, Atlanta-based UPS reached a contract agreement with the Teamsters just days before an Aug. 1 deadline.

At the time the agreement was struck, full- and part-time union workers were set to get $2.75 more per hour in 2023, and $7.50 more in total by the end of the five-year contract. Starting hourly pay for part-time employees also got bumped up to $21, but some workers said that fell short of their expectations.

UPS said at the time that by the end of the new contract, the average UPS full-time driver would make about $170,000 annually in pay and benefits. It was not clear how much of that figure benefits accounted for.

As part of the deal, the delivery company also agreed to make Martin Luther King Jr. Day a full holiday, end forced overtime on drivers' days off and stop using driver-facing cameras in cabs, among a host of other issues. It eliminated a two-tier wage system for drivers and agreements on safety issues were also reached, including equipping more trucks with air conditioning.

Video Games and SAG-AFTRA

In September video game performers reached agreements with 80 individual games that have signed interim or tiered budget agreements with the performers' union and accepted the artificial intelligence provisions they have been seeking.

The performers had been striking for over a month.

Members of the Screen Actors Guild-American Federation of Television and Radio Artists began striking in July after negotiations with game industry giants that began more than a year and a half ago came to a halt over AI protections.

The interim agreement secures wage improvements, protections around "exploitative uses" of artificial intelligence and safety precautions that account for the strain of physical performances, as well as vocal stress. The tiered budget agreement aims to make working with union talent more feasible for independent game developers or smaller-budget projects while also providing performers the protections under the interim agreement.

Las Vegas Resorts and Culinary Workers Union

Thousands of hospitality union workers on the Las Vegas Strip reached a tentative deal with the Venetian and Palazzo resorts in August, a first for employees at the sprawling Italian-inspired complex that opened 25 years ago.

The Culinary Workers Union announced on the social platform X that the deal came together after a year of negotiations. It covers over 4,000 hotel and casino workers, from housekeepers and cocktail servers to bartenders and porters.

Bethany Khan, a union spokesperson, said the deal mirrors the major wins secured in recent contracts awarded to 40,000 hospitality workers at 18 Strip properties owned or operated by casino giants MGM Resorts International, Caesars Entertainment and Wynn Resorts.

Those wins included a 32% pay increase over five years, housekeeping workload reductions and improved job security amid advancements in technology and artificial intelligence.

The bump in pay under those contracts will amount to an average $35 hourly wage by the end of the contracts, according to the union. Workers at these properties were making about $26 hourly with benefits before winning their latest contracts in November.

Kaiser Permanente and Health Care Worker Unions

Unions representing 85,000 health care workers reached a tentative agreement with industry giant Kaiser Permanente in October 2023 following a strike over wages and staffing levels.

The deal included setting minimum hourly wages at $25 in California, where most of Kaiser's facilities are located, and $23 in other states. Workers would also see a 21% wage increase over four years.

The lead up to the tentative agreement included a three-day strike involving 75,000 workers in multiple states.

The tentative agreement also included protective terms around subcontracting and outsourcing, as well as initiatives to invest in the current workforce and address a staffing crisis.

Hollywood Studios and SAG-AFTRA

Hollywood's actors voted to ratify a deal with studios in December 2023 that ended their strike after nearly four months, bringing an official finish to a labor strife that shook the entertainment industry for most of last year.

Members of the Screen Actors Guild-American Federation of Television and Radio Artists approved a three-year contract.

Control over the use of artificial intelligence was the most hard-fought issue in the long, methodical negotiations. The contract called for a 7% general pay increase with further hikes coming in the second and third years of the deal.

The agreement also included a hard-won provision that temporarily derailed talks: the creation of a fund to pay performers for future viewings of their work on streaming services, in addition to traditional residuals paid for the showing of movies or series.

U.S. ports and the International Longshoremen's Association

Some 45,000 dockworkers at East and Gulf coast ports returned to work in October after their union reached a deal to suspend a strike that could have eventually caused shortages and higher prices if it had dragged on.

A walkout would have shut down as many as 36 ports that handle almost half of the nation's cargo from ships entering and exiting the nation. Any such strike would eventually have led to shortages that would have hurt the U.S. economy if the walkout by the International Longshoremen's Association went on for more than a month.

The dispute is not over, however. Longshoremen suspended its strike after three days, but that lasts only until Jan. 15, providing more time to negotiate a new contract. The union and the U.S. Maritime Alliance, which represents ports and shipping companies, said in a joint statement that they have reached a tentative agreement on wages.

Talks now turn to the automation of ports, which the unions says will lead to fewer jobs, and other sticking points.

Continue Reading...

Popular

Co-worker kills Detroit-area McDonald's employee who was mom of 6, police say

EASTPOINTE, Mich. (AP) — A McDonald's employee returned to her Detroit-area restaurant after an argument Thursday and fatally stabbed a co-worker multiple times, police said.

Trump keeps saying the GOP mega bill will eliminate taxes on Social Security. It does not

WASHINGTON (AP) — President keeps saying that Republicans' mega legislation will eliminate taxes on federal benefits.

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Cathie Wood's Alpha Surge: $250 Million Circle Windfall, Big AMD Buys

Cathie Wood, founder and CEO of ARK Invest, has recently been on a hot streak of successful and high-profile trades through her flagship ARK ETFs. 

Trump Could Revolutionize Money Starting July 25th - Ad

Jeff Brown uncovered "Project MAFA"-Trump's bold plan to return to sound money, erase U.S. debt, and trigger a wave of wealth. It could become law by July 25. Join Jeff's urgent briefing on July 16 at 8 p.m. ET to see how you could profit. If you want to get in front of it, you'll need to act quickly.

After Diddy's conviction, here's where his business ventures stand

LOS ANGELES (AP) — Sean “Diddy” Combs has been in his federal sex trafficking trial, but that doesn't mean the once-celebrated music mogul will see his business empire restored.

FDA requires updated warning about rare heart risk with COVID shots

WASHINGTON (AP) — said Wednesday it has expanded existing warnings on the two leading COVID-19 vaccines about a rare heart side effect mainly seen in young men.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Meta, KKR, Lululemon And An Industrial Stock On CNBC's 'Final Trades'

Experts predict KKR, Lululemon, Meta Platforms, and Rockwell Automation to perform well.

These are the celebs who are attending Jeff Bezos’ Venice wedding

VENICE, Italy (AP) — arrived in Venice on Thursday, leading a star-studded guest list of celebrities descending on the lagoon city for the weekend wedding of Amazon founder Jeff Bezos and Lauren Sánchez.

Buffett's Favorite Chart Just Hit 209% - Here's What That Means For Gold - Ad

Buffett's favorite market signal just hit its highest level in history-stocks are more overvalued than 1929. He's sitting on $325B in cash... and may be about to buy one overlooked gold miner. I've identified it-plus 4 others with up to 100X potential.

Musk Third-Party Odds Hit 47% — Can The Tesla Chief Do What No One Has Since 1853?

A promise to create a third party from billionaire Elon Musk comes with historical difficulties of challenging the current two-party system.

Trump vents online about service provider after conference call marred by glitch

WASHINGTON (AP) — On Monday afternoon, the president of the United States was just another person complaining online about his service provider.

Copper's Rally Is Back. This $31M Junior Is Sitting on a Potential Fortune - Ad

A high-grade copper-gold discovery in Quebec just delivered extremely high grade intercepts. Valuation? Just $31M. With copper breaking out, the timing here could be perfect. Get the symbol here.

Mark Cuban Raises Employee Wages After Learning Of Government Aid Dependence

Mark Cuban, owner of the NBA's Dallas Mavericks, expressed his dismay upon learning that some of his employees were reliant on government aid programs.

North Koreans swim and play at a beach resort touted as a boost for tourism

SEOUL, South Korea (AP) — North Koreans swam, rode water park slides and enjoyed other water activities at a newly opened state media reported Wednesday, as the country largely maintains a ban on the entry of foreign tourists.

How to Hack a $1.3T Market - Ad

Forget concrete. The new foundation for real estate success is digital, and Pacaso leads the way. Their tech unlocks a $1.3T real estate market. They've already earned $110M+ in gross profits in their operating history and reserved the Nasdaq ticker PCSO.

650% Later, Rocket Lab CEO Isn't One Bit Worried

Rocket Lab CEO Peter Beck highlights strong demand for launches from both commercial and government customers.

Mexican banks face cascading consequences following US sanctions

Mexico City (AP) — Three Mexican financial institutions sanctioned by the Trump administration last week have felt a cascade of economic consequences following the allegations that they helped launder millions of dollars for drug cartels.

Trump's Secret Plan to Crush the National Debt - Ad

Jeff Brown just uncovered "Project MAFA"-Trump's radical plan to crush the debt and unlock trillions for America. Legislation could pass by July 25. On July 16 at 8 p.m. ET, Jeff reveals how to profit-including one stock set to benefit big.

BigBear.ai (BBAI) Stock Soars 21%: What's Going On?

Shares of BigBear.ai are trading sharply higher Tuesday afternoon. The rally comes without any new company-specific announcements.

Trump's Crypto Advisor David Sacks Says July Will Be A 'Big Month' — Says President Supports Legislation On Market Structure And Stablecoins

President Donald Trump's crypto and AI advisor, David Sacks, praised on Thursday the Senate’s timeline and plan for crypto legislation that proposes dividing oversight of digital assets between market regulators.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after July 23rd, it may be too late.

'Tesla Has The Robot And The Customer': Dave Mazza's HUMN ETF Makes A Calculated Bet On Optimus

Investors are seeking exposure to the $5 trillion humanoid robotics market and Roundhill's HUMN ETF offers active management for agility and alpha generation.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as July 23rd.

Rural hospitals brace for financial hits or even closure under Republicans' $1 trillion Medicaid cut

OMAHA, Neb. (AP) — Tyler Sherman, a nurse at a rural Nebraska hospital, is used to the area's aging farmers delaying care until they end up in his emergency room.

Trump accuses Brazilian authorities of 'witch hunt' against ex-President Jair Bolsonaro

SAO PAULO (AP) — U.S. President Donald Trump on Monday criticized Brazilian authorities over what he called “a witch hunt” against former President and said he will be “closely monitoring” .

Gold Just Hit Another Record. This Junior Could Be Next. - Ad

This copper junior was the smallest company invited to a top global mining conference. With nearly 1B pounds CuEq and 50,000m of funded drilling, this story won't stay quiet for long.

French police raided the headquarters of far-right National Rally in campaign finance investigation

PARIS (AP) — French police raided the headquarters of far-right party on Wednesday, seizing documents and accounting records, the party's leader said, as part of a campaign finance inquiry.

Copper's Spiking - And This Junior Has the Grades to Match - Ad

Copper is climbing again - and this time, it looks tariff-proof. A $31M junior just posted nearly 1B lbs of copper equivalent. With insiders and institutions piling in, this could be the next breakout.

Hong Kong's security net extends beyond arrests as small businesses pressured

HONG KONG (AP) — It’s been years since all but silenced pro-democracy activism in Hong Kong. But a crackdown on dissent in the semiautonomous Chinese city is still expanding, hitting restaurants, bookstores and other small businesses.

Trump Could Revolutionize Money Starting July 25th - Ad

Jeff Brown uncovered "Project MAFA"-Trump's bold plan to return to sound money, erase U.S. debt, and trigger a wave of wealth. It could become law by July 25. Join Jeff's urgent briefing on July 16 at 8 p.m. ET to see how you could profit. If you want to get in front of it, you'll need to act quickly.

Supreme Court OKs fee that subsidizes phone, internet services in schools, libraries and rural areas

WASHINGTON (AP) — on Friday upheld the fee that is added to phone bills to provide billions of dollars a year in in schools, libraries and rural areas.

Nations are meeting to drum up trillions to combat poverty — but the US isn't going

UNITED NATIONS (AP) — Many of the world’s nations are gathering starting Monday in Spain for a high-level conference to tackle the and try to drum up trillions of dollars needed to close it. The United States, previously a major contributor, pulled its participation, so finding funding will be tough.

A Historic Gold Announcement Is About to Rock Wall Street - Ad

The greatest investor of all time is about to validate what Garrett Goggin has been saying for months: Gold is entering a once-in-a-generation mania. Front-running Buffett has never been more urgent - and four tiny miners could be your ticket to 100X gains.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright systemtrading.ca
Privacy Policy | Terms of Service