Labor battles hit TSLA, SBUX
â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â Will organized labor make a return to American politics? President Joe Biden has practically defined himself as a union supporter. It seems like something almost irrelevant, as unions aren't quite as strong as they used to be. Even those that are strong tend to be teachers' unions or public sector employee unions, which are a different kind of animal. But now some of America's leading corporations, even those who have defined themselves as progressive, are having to confront labor issues. Starbucks CEO Howard Schultz was once considering running for president.
However, now he is "declining" an "invitation" from eleven senators to go to a hearing in early March that is expected to be a savage attack on the company's dealings with organized labor. He dodged because he is only "interim" CEO and he is going to "fully transition" out of the role soon.
"Given the timing of the transition," said the Starbucks general counsel in a letter, "his [Schultz's] relinquishment of any operating role in the company going forward and what we understand to be the subject of the hearing, we believe another senior leader with ongoing responsibilities is best suited to address these matters." I'd hate to be that guy...
Tesla is also going to have a spotlight put on it. Elon Musk has made some politically controversial statements lately and previously all but dared union organizers to try to start something at a Tesla factory. Well, it looks like union organizers are going to try it at a factory in Buffalo. And it's the same people who started the unionization effort at Starbucks who are leading the way at this Tesla factory.
As the labor market remains tight, we may see efforts like this spreading to other American corporations. It's something that many corporate leaders haven't planned for, haven't experienced, and can't solve without digging into some seriously controversial territory. Keep your eyes on DC and Buffalo. What happens to SBUX and TSLA could be a sign of things to come. Keep Moving, GET IT DONE Mr. X's motto - and since the beginning of Rogue Investing Daily...
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Chris Hood WORD ON THE STREET Inflation High, KO Beats Revenue Expectations, TSLA Showdown - Bad News Doesn't Shake The Street - Inflation was up 0.5% in January and 6.4% for the year according to the latest Consumer Price Index. That's higher than many expected, and it suggests the Fed isn't done with rate hikes. However, though the Dow declined, the NASDAQ was up. - Charge Higher Prices, Make More Revenue - Genius. Coca-Cola (KO) beat revenue expectations as higher prices helped out the company. Earnings were in line with expectations. However, Coke's reach products - juice, plant-based beverages, etc. - were down last quarter, with higher prices to blame. People may still want a Coke, but they won't splurge on something new. KO was down 1.67% during the trading day - Let Battle Be Joined - The peasants are revolting at the TecnoKing's keep - or at least at the TSLA Gigafactory 2 in Buffalo. Software workers are leading the union drive at the factory, which produces solar panels and developed driver-assistance software. - Schultz Ducks Senate "Invitation" - TBH, I'd say I was busy too. Sen. Bernie Sanders, not exactly known for his love of capitalism, has threatened to use his subpoena power to force Starbucks CEO Howard Schultz to appear before a Senate hearing that will examine the company's compliance with federal labor laws. It looks like it will come to that, as Howard Schultz declined the generous invitation from 11 Senators for him to come and be yelled at. ONE STOCK. ONE WINNING APPROACH. CONSISTENT GAINS. Discover how Corey is isolating gains of 193%â¦262%â¦even 294% in a single afternoon on ONE stock using his proprietary Dragnet â and harness its power to fortify your income by as much as $1,000 a week over the next year.
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) HOT SPOTS: What's Going on in Geopolitics - Nikki Haley Running For President - President Donald Trump has a challenger for the GOP nomination, as his former Ambassador to the United Nations is running for president. It represents a flip-flop from just two years ago, when she said she wouldn't challenge Trump if he ran again. - Bolsonaro Heading Back To Brazil â Former Brazilian president Jair Bolsonaro will end his American exile and head back to his homeland in March. The former president said he will take up the challenge of leading the political opposition to the new regime. "The right-wing movement is not dead and will live on," he said. - America Pledges To Defend The Philippines - President Ferdinand Marcos Jr. of the Philippines summoned the Chinese ambassador to protest Chinese naval actions against his country's fishermen and Coast Guard vessels. The United States issued a statement saying it "stands with our Philippine allies," and that a direct attack would trigger a 1951 mutual defense treaty. Chief Investment Strategist, Adam OâDell, says weâre witnessing a new oil boom that is STILL just in its infancy. Because Adam says thereâs a convergence of multiple geopolitical and economic factors coming together in 2023â¦that will create a brand-new SUPER BULL in oil⦠That could send prices higher than any previous peak in history. [Click here to get all the details on](
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) CUTTING EDGE: What['](
)s Happening In Tech - Battery Issue Halts EV F-150 Production - Ford (F) suffered a major blow in its war against Tesla (TSLA) as the electric F-150 Lightning has had production paused. A potential battery issue is responsible for the snag. F was down about 1% during the trading day. - Amazon Keeps Grasping â Third-party sellers are increasingly being squeezed by Amazon (AMZN), which now takes an average of more than 50% of each sale on the platform. Fees from third-party sellers, about 2 million of which operate on Amazon, have risen for six years in a row. - Buffett Digs Deeper On Apple - Warren Buffett's Berkshire Hathaway is sticking with what works. New regulatory filings show it increased its shares in Apple (AAPL) during the last three months of 2022. Interestingly, it also cut its position in Taiwan Semiconductor Manufacturing (TSM). While Berkshire is sticking with Apple, it didn't open positions with any new companies during this time period FOR YOUR CONSIDERATION ---------------------------------------------------------------
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