A Second Wind for Unions?
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Across the country and in organizations big and small, workers are increasingly more empowered to call for unionization at levels that could reverse a decades-long trend in participation. Giants such as Amazon, Apple and Starbucks are grappling with successful unionization efforts and how to best manage them.
For Amazon, a grassroots campaign started by two friends in a NY warehouse led to the creation of the company’s first union. Citing a number of increased demands, especially during the pandemic, organizers were able to use their “essential worker” status as a major bargaining chip. Further adding to the movement, a group of NY pension funds are urging shareholders to vote against the re-election of two board members based on failures to protect worker safety.
Partly inspired by workers at Amazon, Apple employees this week filed for a union election, setting up a major showdown between workers and Big Tech. The in-store Apple workers say they want to keep their jobs but should be compensated with higher wages to offset inflation. They argue the labor shortage has swung the momentum in their favor.
Further complicating the landscape for companies, the FTC and DOJ plan to put antitrust enforcement in the employment context at center stage. Dealmakers and employers will need to be more diligent than ever when navigating the labor market and consider the various implications.
Next week, we will be reporting from San Francisco at the Berkeley Spring Forum on M&A and the Boardroom. Topics will range from antitrust and M&A in 2022 to Twitter, Poison Pills, and Deals in the Age of Social Media. Stay tuned for insights from the conference!
Have a great weekend,
The GPP Team
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The Daily: How Two Friends Beat Amazon and Built a Union
A year and a half ago, the Times journalists Jodi Kantor and Karen Weise began examining labor practices at Amazon. In the process, they met Christian Smalls and Derrick Palmer. Listen Here
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Wall Street Journal: Amazon Workers’ Union Victory Bolsters Revitalized Labor Movement
Covid-19 pandemic helps drive a rush to organize as staff shortages improve employee bargaining positions on wages and benefits. Read More
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Axios: Why There's Been a Surge in Unionizing Efforts
The great worker awakening that began during the pandemic is reversing a decades-long decline in labor union participation. Read More
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Bloomberg: Apple Faces In-Store Labor Drive as Union Amps Up Pressure
Workers at an Apple store in Atlanta became the first in the U.S. to file for a union election Wednesday, setting up a battle between organized labor and a Silicon Valley titan. Read More
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Gibson Dunn: Employers Beware: Aggressive and Expansive Labor-Focused Antitrust Enforcement Will Remain the New Normal
Both the DOJ and FTC appear ready to bring novel enforcement actions against agreements and consolidations that allegedly restrain competition in labor markets. Read More
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Wall Street Journal: Elon Musk Says He Has Commitments for $46.5 Billion in Financing for Twitter Deal
The billionaire also said given the lack of a response from Twitter’s board, he is exploring a tender offer to acquire shares of Twitter directly from shareholders. Read More
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Bloomberg: All the Terms You Need to Know in Elon Musk’s Takeover Fight With Twitter
Unclear to many: the blizzard of financial terms being thrown around, with “poison pill” perhaps the most prominent. Here’s a guide. Read More
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Fortune: These Are The 25 Companies with the Most Innovative Corporate Boards
The business world is changing rapidly, and so must its top leadership. That's the principle that drives Fortune's new ranking, The Modern Board 25 list. Read More
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Harvard Business Review: What Role Do Individual Leaders Play in Corporate Governance?
Harvard Business School associate professor Aiyesha Dey examines the role of individual leaders in the corporate governance system, as well as their responsibility for creating a positive corporate culture that embodies ethics, self-restraint, and a commitment to serve. Listen Here
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Reuters: Mastercard to Link All Employee Bonuses to ESG Goals
Payment processor Mastercard Inc will link all employee bonuses to environmental, social and corporate-governance (ESG) initiatives, expanding an earlier program which was limited to its senior executives, Chief Executive Michael Miebach said on Tuesday. Read More
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Meeting in San Francisco, the Eighth Annual Berkeley Spring Forum on M&A and the Boardroom hosted by Ethan Klingsberg of Freshfields and Steven Davidoff Solomon of the University of California, Berkeley
is the preeminent West Coast gathering of regulators, investors, executives, practitioners, and academics. It will feature conversation on the M&A landscape, recent M&A caselaw and antitrust. The Forum is hosted by Berkeley Center for Law and Business and Gladstone Place Partners is an event sponsor.
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The Milken Institute Global Conference convenes the best minds in the world to tackle its urgent challenges and envision its exciting opportunities. The event brings together individuals with the capital, power, and influence to change the world with those whose expertise and creativity are rethinking health, finance, technology, philanthropy, industry, and media.
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