4.4 • 1.2K Ratings
🗓️ 9 April 2021
⏱️ 12 minutes
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Amazon looked on course to defeat a historic effort by workers to unionise an Alabama warehouse, and companies and countries around the world are weighing the Biden administration’s global corporate tax plan. Plus, the FT’s markets editor, Katie Martin, explains Goldman Sachs’ purchase of £75m of Deliveroo shares after the UK food delivery group’s disappointing initial public offering last month.
Amazon vote count shows Alabama unionisation effort trailing
https://www.ft.com/content/df3eeb04-d03e-4048-ab81-248c7a9fce4e
Goldman Sachs bought £75m of Deliveroo shares to prop up IPO price
https://www.ft.com/content/bf75f260-33d8-42ea-85c3-6482aa1fb2ff
A grand bargain: how the radical US corporate tax plan would work
https://www.ft.com/content/b358ebca-4097-4cd6-bc7f-8e9d8f069250
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0:00.0 | Good morning from the Financial Times. Today is Friday, April 9th. This is your FT News Briefing. |
0:08.0 | The contentious vote on whether to unionize an Amazon facility seems to be leaning in the company's favor. |
0:14.0 | Countries and companies around the globe are weighing the Biden administration's proposal for taxing multinationals, |
0:20.0 | and the FT's Katie Martin explains the effort by Goldman Sachs to prop up delivers IPO price after the food delivery company's disappointing debut on London's public market. |
0:30.0 | How did this deal go so wrong at such a delicate time when London is trying to prove its metal and what can we learn to try and stop this happening again? |
0:40.0 | I'm Mark Filipino. Here's the news you need to start your day. |
0:46.0 | It was the first ever vote to unionize an Amazon facility in the US and it looks like it will fail. |
0:52.0 | Workers at the plant in Bessemer, Alabama voted over a seven week period. The vote count began yesterday and it could end today. |
1:00.0 | I'm joined now by Dave Lee. He's our San Francisco correspondent and he covers Amazon for the FT. |
1:06.0 | Dave, not only were the no votes leading when the counting paused on Thursday night, but they were well ahead of the yes votes. What happened? |
1:16.0 | The union, I think, privately were expecting to be beat in this vote, but I think the severity of that beating is more than they had feared. |
1:27.0 | I mean, look, over the past few weeks, Amazon has pulled out all the stops to try and convince the workers at this plant that unionization wouldn't be a good idea in their view. |
1:39.0 | There are many things that Amazon has gone through to try and fend off this vote and it seems like that has worked. |
1:47.0 | I think what's particularly interesting about the vote tallies so far is that after about half of them being counted, it would seem that Amazon has not only attracted other workers to vote against the union, but it seems to have changed the minds of people who were planning to vote for the union. |
2:05.0 | Based on the early signs of support they needed to do the vote in the first place. I think Amazon is going to be very pleased with the union busting effort that it's been carrying out over the past few weeks. |
2:16.0 | Dave, regardless of the outcome, no matter which way it goes, this is most likely not the end of the process, right? |
2:23.0 | Yes, indeed. I think actually it's fair to say it's the beginning of the process really. |
2:28.0 | So once this vote has had a formal result from the Labor Standards Board, there is almost certainly going to be an appeal from the union that RWDSU. |
2:40.0 | They're saying that some of what Amazon did in order to fight in this vote was illegal. In particular, they say a post box that was placed in the parking lot at the Amazon facility was designed to intimidate workers into thinking that Amazon was monitoring who was voting. |
2:59.0 | And so the union is going to argue that this was a direct effort to influence the votes. Speaking to a few labor experts, they think the union has a pretty strong case. |
3:08.0 | And what could happen is that the local regulators could in fact overturn the vote entirely and grant the union a victory. |
3:17.0 | What would happen then is that this would then go to Washington where Amazon could appeal on a national level to the NLRB. And that would be a process that takes several months at least. |
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