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Wall Street Breakfast

Las Vegas hospitality workers vote to strike

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 28 September 2023

⏱️ 6 minutes

🧾️ Download transcript

Summary

Las Vegas hospitality workers vote for strike against hotels, casinos. (00:25) Johnson Controls (JCI) hit with data breach, ‘massive ransomware attack’. (01:17) Evergrande (EGRNF) stock trading suspended in Hong Kong as chairman under surveillance. (02:01)

Episode transcripts seekingalpha.com/wsb.
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Transcript

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0:00.0

Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

0:07.0

Good morning, today is Thursday, September 28th, and I'm your host Julie Morgan.

0:12.0

Another industry on strike, this time a walkout could happen in Las Vegas.

0:17.0

Trading of Evergrand is suspended in Hong Kong,

0:20.0

and Johnson controls is hit with a massive ransomware attack.

0:25.0

Could we possibly be talking about another industry on strike?

0:29.0

Well, yes, the Culinary Workers Union in Las Vegas voted this week to authorize a strike.

0:34.8

However, no walkout date has been set as negotiations continue.

0:39.2

If a walkout happens, it could impact nearly two dozen casinos and hotels including the largest

0:45.2

properties like Caesars, MGM and Wen. There are union workers at other

0:50.1

locations but they're working under a contract extension for now and that's

0:54.5

being negotiated as well. Workers are bargaining for better pay, benefits, and

0:59.3

working conditions. There was overwhelming support for a strike with 95% voting in favor.

1:05.9

The Culinary Workers Union represents more than 60,000 hospitality workers in Nevada.

1:11.4

53,000 are based in Las Vegas and negotiating a new five-year deal.

1:17.8

Computer networks at Johnson Controls International were disrupted by what the industrial conglomerate described as a

1:24.2

cyber security incident according to a regulatory filing and according to

1:28.9

technology news site bleeping computers citing an unnamed source the breach was described as a massive

1:35.4

ransomware attack it originated in Asia and encrypted company devices such as

1:40.6

VMware ESI servers.

1:43.5

The bad actors are said to be demanding a ransom of $51 million

1:47.9

in exchange for a decryptor

...

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