Amazon.com Inc. labor organizer Christian Smalls said on Tuesday more than 50 warehouses of the e-commerce giant in the U.S. reached out after its warehouse in New York City voted to form the first union at the company. “Since we WON @amazonlabor has been contacted by workers in over 50 buildings Nationwide not including the…
Amazon Signs Landmark Rocket Deal
Former Amazon.com Inc. CEO Jeff Bezos has reunited with his former company in a landmark deal to launch 83 satellites in upcoming years, in what has been described as the largest deal ever in the history of the commercial space industry. On Tuesday, Amazon announced that it would be partnering with numerous companies to launch…
Amazon’s Unionization Would Hit Its Profitability, Morgan Stanley Says
Morgan Stanley analysts saw Amazon.com Inc’s unionization decision driving costs, CNBC reports. Morgan Stanley analysts saw Amazon’s 2023 operating expenses increasing by $203 million on hiking JFK8 employees’ hourly wages to $29. It served a tiny fraction of Amazon’s annual operating costs, which reached $445 billion in 2021. Every 1 percent of Amazon’s front-line workforce that unionize would lead…
Amazon’s New Union Demands Company Start Bargaining in May
The union that Amazon.com Inc. workers recently voted to represent them has demanded the company start bargaining in early May and cease any changes to employment terms at their warehouse in the interim, according to a letter the group issued Saturday on Twitter. The Amazon Labor Union also demanded the retailer respect workers’ rights to…
Staten Island Amazon Workers Vote to Unionize
Workers at JFK8, Amazon’s warehouse located in Staten Island, have voted to be represented by the Amazon Labor Union (ALU), making this the first Amazon warehouse to be represented by a union in the United States. From March 25–30, workers at Amazon’s Staten Island “Fulfillment Center” JFK8 voted on whether to join the new labor…
Amazon Union Vote Counts Slated for Thursday; Turnout Dropped in Alabama
Labor board officials expect to start counting votes by Amazon.com Inc. warehouse workers in New York City and Alabama on Thursday afternoon in separate contests that will decide if Amazon sees a U.S. workplace unionize for the first time. In Bessemer, Alabama, Amazon employees voted in a repeat election after they rebuffed joining the Retail,…
Amazon Gets Rare ‘Underperform’ Rating on Risks From Higher Expenses, Inflation
Amazon.com Inc received a rare “underperform” rating from BNP Paribas Exane on Wednesday, with the French brokerage saying the e-commerce giant faces a bumpy ride ahead due to surging inflation and higher expenses. Analyst Stefan Slowinski said investments during the COVID-19 pandemic to build fulfillment centers for faster deliveries and employee bonuses to keep its warehouses…
Amazon to Double Cashback Rewards on Fuel Purchases as Fuel Prices Rise
Amazon.com Inc is launching a program to double cashback rewards on fuel purchases to up to 12 percent for Amazon Flex debit cardholders, to help Flex delivery partners amid a rise in fuel prices. Amazon Flex, which works like on-demand ride-hailing service Uber, handles speedy deliveries of common household goods to customers through programs like…
Blue Origin’s 4th Astro-Tourism Flight Set to Launch Without Big Names
March 30, 2022
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The fourth commercial flight of Jeff Bezos’ space tourism venture Blue Origin, offering short suborbital joyrides to well-heeled thrill-seekers and celebrity guests, has been delayed by two days because of poor weather conditions, the company said. Blue Origin’s New Shepard spacecraft was scheduled for liftoff on Tuesday from the company’s launch site in rural west…
Tesla Adds to Wave of Megacap Stock Splits
March 30, 2022
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Tesla’s announcement on Monday that it will seek shareholder approval to increase its share count in order to enable a stock split adds to a recent wave of megacap companies splitting their shares in a bid to attract more investors. Tesla said in a filing it would hold a vote at its upcoming annual shareholder…
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