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BusinessFriday 06.11.21

Is CEO Pay Too Damn High?

In 2020, the biggest U.S. companies paid their median CEO $13.4 million, and their median worker $72,556. A ratio of 185-to-1. Senator Bernie Sanders has proposed a tax penalty for any pay ratio above 50-to-1.

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1:00
Coming soon to Bessemer, Alabama: a second shot at unionization. A federal labor board believes Amazon interfered in the union election that took place earlier this year and is ordering another vote.

Amazon Ordered to Hold Another Union Election at Alabama Facility

1:02
Consumerism: It’s so last year. 2021 marks the first year that Americans spent less money on Black Friday than the previous year. That said, we still dished out 8.9 *billion* dollars.

Black Friday Spending Decreases for the First Time

1:00
In a ruling that could have major implications for similar cases, a federal jury found that CVS, Walmart, and Walgreens substantially contributed to the opioid crisis in two Ohio counties. The companies could soon be on the hook for billions of dollars.

Trouble For Big Pharma(cies)

0:43
Latest news

Hillary Clinton calls for regulation of cryptocurrency because it has the potential to "destabilize" nations.

0:50
Uber is partnering with a cannabis retailer to offer weed for takeout in Canada. Customers in Ontario can now place an order for pick up from any nearby Tokyo Smoke store on the Uber Eats app.

Uber Eats Partners With Cannabis Retailer in Canada

1:07
The former golden girl of Silicon Valley now taking the stand in federal court. After months of listening as the U.S. government mounted a case against her, Theranos founder Elizabeth Holmes unexpectedly testified in her own criminal trial. Holmes faces 11 counts of wire fraud and conspiracy to commit wire fraud. Wire fraud is a felony that carries a maximum penalty of 20 years and potential fines.

Elizabeth Holmes Testifies in Theranos Criminal Trial

1:12
A big change is coming to Amazon. The e-commerce giant has announced it will stop accepting Visa credit cards issued in the U.K. due to high transaction fees. Merchants have long complained about the fees that eat into their revenue. Now, they have one of the biggest and most influential companies on their side.

Amazon Will Stop Accepting U.K.-Issued Visa Cards

1:04
Third time’s the charm? After one month and three union votes, 10,000 John Deere employees are returning to work with a new contract that will deliver 10% raises immediately.

Strike Over: John Deere Workers OK Contract