Welcome back. Starbucks workers in dozens of cities launching a strike today on one of the most important days of the year for the company. Kate Rogers has that story for us. Morning, Kate. Good morning, Sarah. Workers United has launched its strike today at more than 65 stores in over 40 cities after the two sides failed to reach a collective bargaining agreement. The timing is significant. It's Red Cup Day and one of Starbucks busiest days of the holiday season. The union says more than a thousand workers ...

Core Viewpoint - Starbucks Workers United, representing around 9,000 baristas across 550 stores in 25 major cities, has voted to strike on November 13 unless a final employment contract is reached, coinciding with the company's 'Red Cup Day' promotion [1] Group 1: Strike Details - Over 90% of Starbucks Workers United members voted to strike after a six-month wait for new proposals from Starbucks addressing demands for better staffing, higher pay, and resolutions to numerous unfair labor practice charges [3] - In 2023, approximately 200 unionized stores participated in a "Red Cup Rebellion" strike on Red Cup Day, and a previous strike on Christmas Eve led to nearly 200 store closures [3] - More than 45 major organizations, representing over 85 million people, have urged Starbucks CEO Brian Niccol and the board to finalize a contract and pledged not to cross picket lines in the event of a strike [3] Group 2: Company Response and Union Representation - Starbucks stated that fewer than 4% of its hourly workers are unionized, and all 10,000 company-operated stores, along with 7,000 licensed locations, will remain open on Red Cup Day [4] - Previous CEO Laxman Narasimhan had promised to finalize a contract agreement by the end of 2024, but negotiations stalled after his departure and the arrival of CEO Niccol in September [4] Group 3: Background and Employee Relations - The dissatisfaction among Starbucks baristas has been ongoing since the first unionization effort in Buffalo stores in 2021, with 500 stores joining Starbucks Workers United by the end of last year [5] - Employee relations worsened after CEO Niccol's arrival, following media coverage of his lucrative employment contract, estimated at $113 million, which included a $10 million sign-on bonus and an annual salary of $1.6 million [5] - In 2024, Niccol earned $95.8 million, primarily in stock, which is reported to be 6,666 times the median barista's pay of $14,674, marking the widest pay gap among all S&P 500 companies [5]

Core Viewpoint - Ford is expected to face a significant earnings impact, potentially up to $1 billion, due to a fire at a key supplier's aluminum factory, with the F-150 trucks being the most affected model [1][9]. Group 1: Incident Details - A fire on September 16 destroyed parts of the Novelis aluminum factory in Oswego, New York, and is anticipated to keep the facility down until early 2026 [1][4]. - The fire required the efforts of 175 firefighters and involved 26 fire departments to extinguish, with the cause still under investigation [12]. Group 2: Impact on Ford - Ford is the largest user of the Novelis plant, which primarily supplies aluminum for its F-150 trucks, leading to a projected earnings hit of $500 million to $1 billion [2][9]. - Production of the F-150 electric pickup at Ford's Dearborn, Michigan plant will be paused next week due to the fire, affecting the supply of aluminum through the end of the year [5]. Group 3: Broader Industry Context - The incident adds to the challenges faced by American automakers, who are already dealing with rising costs from tariffs on aluminum and steel, a global semiconductor shortage, and supply chain disruptions [10][11]. - Novelis produces over 350,000 metric tons of sheet aluminum annually for various automakers, including Ford, Toyota, and Stellantis [11].