GM deal with UAW on health care costs may help end strike, hurt Ford

Business / Business News /

DETROIT -- General Motors, in its negotiations with the UAW, has cost Ford a lot of money.

Why? Ford employs the most hourly workers in the United States and as a result pays more for health care. So any costs that GM negotiates in what is seen as a master contract with the Detroit Three directly impacts Ford disproportionately, labor analysts ...Read more

Flour mill in Baltimore County's Oella, Maryland's last commercial mill, to shut down

Business / Business News /

Maryland will lose its last commercial grain mill when a flour and corn mill on the banks of the Patapsco River across from old Ellicott City shuts down early next year.

Wilkins-Rogers Inc. plans to relocate its Oella milling operations somewhere in the Midwest, according to Baltimore County officials who have been in contact with the company. ...Read more

UPS launching self-storage service

Business / Business News /

UPS is launching a self-storage service allowing customers to have packed bins picked up and delivered to a UPS facility for storage.

UPS launched Storage on Demand after a team of four UPS employees pitched the idea at a company innovation competition and brought it to market in nine months.

The service is available in greater metro Atlanta ...Read more

UAW summons its National GM Council to Detroit, but has no deal with yet

Business / Business News /

DETROIT -- The UAW has sent a letter to its National General Motors Council summoning union local officers to Detroit on Thursday for a morning meeting at the Marriott downtown.

Meanwhile, negotiators for GM and the UAW wrapped up a day of talks Monday evening, on the 29th day of a nationwide strike against the automaker. Negotiations are ...Read more

As CDC warns against all cannabis vaping, California's legal market tries to ease consumer fears

Business / Business News /

SAN DIEGO -- Pesticides, mold, bacteria -- these are boogeymen that technicians at cannabis testing labs are intimately familiar with and look for daily as part of California's rigorous requirements to legally bring THC products to market.

In the past month, they've increasingly been asked to look for something else: vitamin E acetate.

The ...Read more

Facebook's Libra faces more resistance from finance leaders

Business / Business News /

Facebook is meeting even more resistance to its Libra cryptocurrency as financial officials with some of the world's biggest governments are expected this week to say Libra should not be allowed to go forward without stronger assurances that it won't disrupt the international finance system.

A report from a task force made up of officials from ...Read more

Riot Games tells broadcasters to keep political issues off the air

Business / Business News /

Before pro gamers took the stage this weekend at the League of Legends World Championship Group stage, developer Riot Games laid out some ground rules.

But the company's message had little to do with the game itself.

Seemingly wary of stirring any geopolitical controversy after rival studio Blizzard faced backlash for punishing a gamer with ...Read more

Qualcomm chips to power 30-plus devices targeting 5G home broadband

Business / Business News /

Can new 5G mobile networks deliver wireless Internet service that's fast and reliable enough to challenge cable companies in the home broadband market?

That question could be answered relatively soon. As 5G network roll-outs become more widespread, delivering broadband to homes is considered one of the most promising potential businesses for ...Read more

Disney+ reveals everything it will start streaming on Nov. 12

Business / Business News /

Disney on Monday threw down a new gauntlet in the streaming TV wars when it released the list of practically every TV show and movie title that will be available on the Disney+ subscription service when it goes live on Nov. 12.

And fans of Disney classics -- or the studio's more obscure titles dating back decades -- are in luck.

"It. Is. Time....Read more

UnitedHealthcare plan faces Medicare sanction

Business / Business News /

UnitedHealthcare is facing enrollment restrictions next year in one of its Medicare Advantage health plan contracts, regulators say, because the insurer hasn't been spending a large enough share of revenue on the health care needs of enrollees.

The sanction from the Centers for Medicare and Medicaid Services (CMS) applies to just one of United'...Read more

The Journey: How companies can improve employees' retirement security

Business / Business News /

There's a wide gulf between what employers think they are doing to help workers retire comfortably and what workers are actually experiencing, a new survey shows.

Seventy-five percent of employers consider their workplaces to be "aging friendly," but just 54% of workers say their employers are aging friendly, according to the Transamerica ...Read more

On Philanthropy: In the eyes of business leaders, 'social purpose' has replaced 'shareholder capitalism'

Business / Business News /

Nearly 50 years ago, Milton Friedman launched the era of "shareholder capitalism." At that time, the Nobel-Prize-winning economist admonished American business leaders that their only responsibility was to maximize profits. The world has changed a lot since then -- for better and for worse. Some still espouse this theory.

According to Friedman ...Read more

Sanders pledges 20% worker stake in sweeping governance overhaul

Business / Business News /

WASHINGTON -- Sen. Bernie Sanders proposed sweeping changes to U.S. corporate governance that would give workers 20% ownership in public companies and the right to elect 45% of their directors, while expanding the government's power to stop mergers.

The 2020 Democratic presidential contender's "corporate accountability plan" proposes to restore...Read more

Susan Tompor: Scammers are fooling millennials out of millions of dollars: Here's how

Business / Business News /

Stefanie Rinna, 26, initially was pretty happy to get a text from a prospective employer who said she spotted the young woman's information on the job site So Rinna jumped on the chance in September to do an interview via Google Hangouts.

The interviewer for the food packaging company seemed to want to fill a real job.

"At first, ...Read more

Michael Hiltzik: America's healthcare system is failing because competition is disappearing

Business / Business News /

The two major afflictions besetting the U.S. healthcare system are that its prices are too high, and that although big spending should give us better quality of care, it doesn't.

These two conditions arise from the same cause: American healthcare is becoming less competitive. Hospital chains are growing larger, and within some specialties, ...Read more

'Taxes be killin' me!' These Philly high schoolers get $500 to learn about investing, becoming millionaires

Business / Business News /

PHILADELPHIA -- Personal finance classes in high school? Lots of adults like the idea, and students love learning with real money.

A Philadelphia high school teacher is introducing teenagers to the world of stocks, bonds, the dangers of credit cards, and the thrill of investing over the long-term to become a millionaire -- at Olney Charter High...Read more

Here is what's been settled and what remains in play in GM-UAW talks

Business / Business News /

DETROIT -- By early Monday morning, three main sticking points remained between General Motors and UAW negotiators as they pushed to close in on a new tentative contract.

The two sides worked long hours over the weekend, finishing up around 10 p.m. Sunday. Negotiators were meeting at the main table again by midmorning Monday as roughly 46,000 ...Read more

Massive opioid case may end with huge settlement. Where would the money go?

Business / Business News /

The largest civil trial in U.S. history is scheduled to begin in a matter of days, putting those who made, marketed, distributed and dispensed prescription painkillers under the legal spotlight. But those on the front lines of the opioid epidemic are already looking beyond the courtroom to the massive settlement they expect will ultimately ...Read more

Trump has real reasons to fixate over the stock market

Business / Business News /

NEW YORK -- No president in modern history has followed the stock market more obsessively as a barometer of success than Donald Trump. You can see it in the dozens of tweets he's sent referencing the Dow Jones Industrial Average, in the way every record is celebrated while lurches are pinned on the Democrats.

Turns out, he might actually be ...Read more

Billionaires could face tax rates up to 97.5% under Sanders

Business / Business News /

WASHINGTON -- Billionaires may have much more to fear from a Bernie Sanders presidency than they do from an Elizabeth Warren administration, according to two economists advising both candidates.

That's one of the conclusions of a new interactive website developed by University of California, Berkeley professors Emmanuel Saez and Gabriel Zucman....Read more