Despite the promising news of a tentative agreement between Alaska Airlines and their flight attendants union back in June, the recent rejection of the new labor deal has left both parties back at the negotiation table. The deal included significant immediate raises averaging over 24%, but the union’s decision to turn it down suggests that
Business
Interest rates play a significant role in influencing consumer behavior when it comes to making major decisions such as moving into new houses or starting large renovation projects. According to Home Depot’s Chief Financial Officer, Richard McPhail, higher interest rates have caused homeowners to delay these projects in anticipation of lower rates in the future.
In the realm of the coffee industry, Starbucks’ decision to appoint Brian Niccol as its new chief executive and chairman has sparked excitement and optimism among investors and analysts on Wall Street. Niccol’s arrival marks a significant shift away from the era dominated by longtime CEO Howard Schultz. His mandate involves revitalizing Starbucks amidst declining
Blink Fitness, a gym chain owned by Equinox Group, has recently filed for Chapter 11 bankruptcy protection. This move comes as a result of financial struggles faced by the fitness brand, which has over 100 centers across the U.S. The company has listed its assets at $100 million and liabilities at $500 million, indicating a
General Motors recently unveiled the redesigned versions of the GMC Terrain crossover, showcasing a more rugged exterior design. The new entry-level model, known as the “Elevation,” boasts a sleek and modern look that sets it apart from its predecessors. The compact crossover features a revamped interior with an impressive 26 inches of screens, including a
DirecTV, a company known for its traditional TV bundles delivered via satellite dishes, is making a bold move in the changing landscape of media consumption. Their latest ad campaign, “For the Birds,” features NFL star-turned-college football coach Deion Sanders as they aim to educate consumers that DirecTV is also a streaming company. The Shift to
In the current economic landscape, restaurant CEOs have an unending obsession with the concept of “value.” This fixation has become a recurring theme in quarterly conference calls among leading restaurant chains. “Value” is being touted as the ultimate solution to revive slowing sales and attract more customers. With a 27.2% increase in food prices since
Paramount Global’s recent announcement of cutting 15% of its U.S. workforce, resulting in the loss of about 2,000 jobs, raises concerns about the impact of such drastic cost-cutting measures on employees. The company has outlined a cost-saving strategy aiming to achieve $500 million in savings, with a significant portion coming from employee layoffs. The targeted
Since the merger between Discovery and WarnerMedia in 2022, David Zaslav, the CEO of Warner Bros. Discovery, has encountered various challenges. The company’s shares have plummeted by about 70% since the merger closed on April 8, 2022. Zaslav’s leadership has been marred by significant layoffs, cancelation of movies and TV series for tax purposes, discontinuation
Automaker Stellantis recently announced plans to indefinitely lay off up to 2,450 U.S. factory workers as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. This decision comes as the company shifts focus to a newer generation of the Ram 1500 that was introduced in 2018. The production of
