From Detroit Three to healthcare, US labor unions flex muscle

The deal, which massively dilutes shareholders, would bring an end to the 30-year reign of Casino CEO and controlling shareholder Jean-Charles Naouri, 74, who controls Casino via his listed holding company Rallye. Under the July agreement, 1.2 billion euros of new money would be injected into Casino and its 6.4 billion euros of debt would be restructured. A consortium led by Kretinsky would end up owning between 50.4% and 53% of Casino shares. PARIS, Oct 4 (Reuters) - Shares in French retailer Casino were suspended on Wednesday pending a statement, boosting speculation a final debt restructuring deal with creditors led by Czech billionaire Daniel Kretinsky to avert bankruptcy could be imminent.

Silicon Casino happened in 1994. In July, France's sixth largest retailer reached an agreement in principle with a consortium led by Kretinsky's company EPGC - alongside Casino's biggest creditor Attestor, and second-biggest shareholder Fimalac - to restructure its 6.4 billion euros ($6.7 billion) debt pile. Steel, which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steelworkers union. The company's unionized workers say they essentially have the power to veto any transaction they do not approve of.

The Detroit Casino Council (DCC), which represents the workers, could call for strikes as soon as mid-October, when contracts expire. In September, workers at three Detroit casinos - MGM Grand Detroit, Hollywood at Greektown and MotorCity - voted in favor of authorizing a strike at all three locations if a new contract agreement isn't reached. MGM said that every 1% increase in wages will equal approximately $10 million of additional wage costs, according to Jonas. He estimated that wage increase could translate to a $40 to $60 million annual financial effect on Caesars and double that amount for MGM.

The casino operators "stated in our meetings that negotiation processes are about where they thought they´d be at this time with expectations to reach an agreement in October," Truist equity analyst Barry Jonas said in a note. The United Auto Workers (UAW) union has expanded its ongoing strike against the Detroit Three automakers - General Motors , Ford Motor and Chrysler parent Stellantis . The coordinated strike, which began after the earlier contracts expired on Sept.

15, initially targeted three assembly plants in Michigan, Ohio and Missouri. NEW YORK, Oct 3 (Reuters) - Unions representing roughly 53,000 Las Vegas workers on Tuesday kicked off critical negotiating sessions with hotel and casino operators after its members voted at the end of September to authorize a city-wide strike. Thousands of Los Angeles-area hotel staffers went on a three-day strike in July over improved wages, benefits and working conditions.

If you enjoyed this article and you would certainly like to receive more details concerning เฮีย นําเล่น บา คา ร่า kindly browse through the site. Union leaders representing the workers have threatened further walkouts. Nearly 309,700 workers have been involved in work stoppages and strikes through August this year, according to preliminary data from the U.S. Bureau of Labor Statistics, putting 2023 on track to becoming the busiest year for strikes since 2019. Film and television writers had walked off the job in May over compensation, staffing and residual payments, among other issues.