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Workers Vote to Strike at Ontario Teachers’ Pension Plan-Owned Wine Rack Stores
Posted on 05/14/2021
On May 10, 2021, 86% of workers at Wine Rack voted in support of a strike action. The workers are members of SEIU Local 2 union. The union say key issues include low wages, basic job security, and fairness are all key issues. Wine Rack is owned by Arterra Wines Canada, Inc., a holding company owned by Ontario Teachers’ Pension Plan. Constellation Brands Canada was subsequently renamed Arterra Wines Canada and was acquired by the Ontario Teachers’ Pension Plan in 2016.
According to a press release by the union on May 11, 2021, “The workers say they are being asked to accept terms that would not address a severe problem with their hours and job security. Current wages and working conditions have resulted in a stunning annual employee turnover rate of 50%. Workers are seeking a deal which will give them the ability to work sufficient hours at a fair wage. Wine Rack has so far
DAILY DOSE: May 14, 2021
Posted on 05/14/2021
1. Japan plans to expand its COVID state of emergency ahead of the Olympics.
2. FORMER U.S. MILITARY LEADERS CONCERNED – More than 120 retired U.S. generals and admirals published an open letter questioning the legitimacy of the 2020 presidential election as well as U.S. President Joe Biden’s fitness to be commander-in-chief. Biden is the oldest U.S. president and is currently 78-years-old. Some of the signers in include retired Rear Admiral John Poindexter, national security adviser under President Ronald Reagan, and retired Lt. Gen. William G. Boykin.
3. U.S. President Biden tweeted on May 13, 2021 on the official @POTUS twitter account, “The rule is now simple: get vaccinated or wear a mask until you do.
MANAGED DECLINE: Storied Institutional Investor Shrivels into a Blog
Posted on 05/14/2021
Gilbert (Gil) Kaplan founded Institutional Investor as a publication dedicated to the institutional investor space. The flagship publication of London-based Euromoney Institutional Investor had significant influence, reporting on asset manager trends, hedge funds, pensions, and investment strategies. In March 2018, after 51 years and 588 issues, Euromoney Institutional Investor (parent company) decided to close down the printing of the magazine. Institutional Investor pivoted to being a digital publication (a blog). Earlier, the publication hired Kip McDaniel from Asset International (owner of Chief Investment Officer magazine), a smaller financial publication based out of New York, to try and turn things around.