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Red cup rebels

500 Starbucks stores have now unionized across the United States

That’s still only 3% of US Starbucks locations

Tom Jones, David Crowther
10/2/24 11:04AM

On Monday, a group of baristas in Bellingham, Washington were the latest members to join the Starbucks Workers United ranks, as the store became the 500th location to unionize since 2021.

Back then, in the relatively brief interim between Howard Schultz’s second and third terms as the company’s CEO, it was a store in Buffalo, New York that made history by becoming the first Starbucks branch to organize officially. These days, a new location unionizing is a weekly, or even daily, occurrence, with data from Unionelections.org tracking the steady trickle of successful Starbucks votes.

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The red cup rebels

While Starbucks has long been known for referring to employees as “partners”, it seems like many of the issues that its coffee makers have expressed through the years have largely fallen on deaf ears. In September, for example, workers at the Washington branch and 8 other organizing stores sent a letter to Brian Niccol, the company’s new $20 billion boss, expressing concerns over staffing, scheduling, better benefits, and wages. The Buffalo, New York unionists were making many of the same complaints back in December 2021.

Despite the constant flow of labor complaints and the recent milestone, just 3% of Starbucks stores have now unionized.

Interestingly, while American industrial action has been on the rise as of late, especially during the Hot Strike Summer of 2023, just 10% of US workers reportedly belonged to a union last year, the lowest membership rate since records began in 1983.

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Fox and News Corp slide as investors digest $3.3 billion Murdoch succession settlement

Fox and News Corp shares dropped on Tuesday after Rupert Murdoch’s heirs agreed to a $3.3 billion settlement to resolve a long-running succession drama.

Under the deal, Prudence, Elisabeth, and James Murdoch will each receive about $1.1 billion, paid for in part by Fox selling 16.9 million Class B voting shares and News Corp selling 14.2 million shares. The stock sales will raise roughly $1.37 billion on behalf of the three heirs.

The new trust for Lachlan Murdoch will now control about 36.2% of Fox’s Class B shares and roughly 33.1% of News Corp’s stock, granting him uncontested voting authority over both companies for the next 25 years. Originally, the Murdoch trust was designed to hand over voting control of Fox and News Corp to Prudence, Elisabeth, Lachlan, and James after his death.

Investors are weighing the trade-off. Clear leadership under Lachlan may resolve conflict internally, but the share dilution, executed at a roughly 4.5% discount, means long-term investors now hold slightly less clout than before.

Both companies’ stocks were trading close to all-time highs prior to the announcement.

385 ✈️ 434

Boeing on Tuesday announced that it delivered 57 commercial jets in August, its best total for the month in seven years. That brings its year-to-date delivery total to 385 planes, eclipsing its full-year 2024 figure by about 11%.

The August figure marked Boeing’s second-highest delivery total of 2025 and represented a 43% jump from the same month last year. Through August, Boeing has boosted its deliveries by 50% from last year.

The plane maker is still trailing its European rival Airbus, which delivered 61 planes in August and 434 year to date.

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