News
Starbucks New CEO Brian Niccol under fire for 1,000-mile commute
Starbucks’ recently appointed CEO, Brian Niccol, has come under fire after it was disclosed that he will fly nearly 1,000 miles (1,600 kilometres) from his family home in Newport Beach, California, to the company’s headquarters in Seattle on a corporate aircraft.
Critics have pointed out a mismatch between the company’s stated stance on environmental issues and the lifestyles of its top executives, as well as worries about whether Starbucks’ three-day office working limit will apply to him.
Mr Niccol is set to take over the world’s largest coffee shop chain on September 9.
Starbucks did not replied to the BBC’s requests for comment.
Mr. Niccol’s job offer said that he would not be obliged to relocate to the company’s headquarters. However, he agreed to commute from his apartment to the headquarters as needed to execute his duties and obligations.
According to the paper, he will be able to use the company’s aircraft for “business related travel” as well as “travel between [his] city of residence and the company’s headquarters”.
Starbucks has also stated that it will set up a modest remote office in Newport Beach for Mr Niccol to utilise while working from California.
Starbucks offers a mixed work arrangement that requires employees to be in the office at least three days per week.
The corporation has not verified whether the same criteria will apply to Mr Niccol, or whether his work from the new distant location in California will meet those requirements.
According to Dan Coatsworth, an investment analyst at AJ Bell, Mr Niccol “on paper” has the “same hybrid working terms as other office-based employees, as one might expect.”
“However, what leaves a sour taste is the idea he can use a private jet to nip 1,000 miles between California and Seattle,” according to him.
Mr Coatsworth stated that operating a private jet was not only terrible for the environment and would convey the wrong image to consumers and staff, but it was also “ultimately not a practical way to run a $105 billion business with an estimated 400,000 employees.”
“A leader needs to be at the heart of a business, not sitting on the beach enjoying the perks of the job,” he told reporters.
“Brian Niccol was draughted in to give Starbucks a fresh lease on life, implying he faces a significant challenge. This isn’t taking over a thriving firm; it’s a repair job that requires constant presence in the engine room.
The question of where people work has come up in recent years, with organisations in a variety of industries debating whether to continue the remote work practices that exploded during the coronavirus pandemic.
According to Andrew Speke, a spokesperson for the High Pay Centre, a research tank that studies executive pay, it is critical for corporate leaders to ensure that “employees can see that it’s not one rule for them and one rule for their bosses”.
The question of where people work has come up in recent years, with organisations in a variety of industries debating whether to continue the remote work practices that exploded during the coronavirus pandemic.
According to Andrew Speke, a spokesperson for the High Pay Centre, a research tank that studies executive pay, it is critical for corporate leaders to ensure that “employees can see that it’s not one rule for them and one rule for their bosses”.
The circumstances of his job also drew criticism on social media.
“That’s nice… great convenience for high talent! But I hope we don’t see too many new’sustainability’ and ‘environment’ advertising from @starbucks. One X user commented, “*Wink*.”
“The new Starbucks CEO is ‘supercommuting’ 1,000 miles to Seattle on a private jet to work, so don’t be too harsh on that waitress who gave you a plastic straw when you didn’t want one,” according to another.
Some industries, such as banking, indicated early on that they expected employees to return to the office full-time, while others, particularly in the technology industry, have stated that they will accept remote work indefinitely. Many places have chosen a combination.
Others focused on how much Mr Niccol is expected to earn in his new job.
Former US Secretary of Labour Robert Reich questioned why CEO remuneration is rarely discussed in discussions about rising pricing.
According to the conditions of his offer, Mr Niccol’s yearly base salary will be $1.6 million (£1.2 million). In addition, he could receive a $7.2 million performance incentive and up to $23 million in Starbucks stock per year.
According to a 2021 UN assessment, the world’s wealthiest 1% emit twice as much carbon as the poorest 50% combined.
This month, Starbucks announced that Mr Niccol will take over as CEO, replacing Laxman Narasimhan.
The statement came as the coffee chain sought to bolster declining sales.
Mr Niccol had managed the Mexican fast food giant Chipotle since 2018, guiding the company through a crisis caused by food poisoning incidents.
During his tenure, the company’s sales doubled, and its stock rose from less than $7 per share to more than $50.
Chipotle also opened around 1,000 new locations and introduced new technologies to automate food production.
In recent months, it has been viewed as a bright spot in the restaurant industry, when many firms have claimed that customers are spending less.
Source: BBC
News
Cases Of The US Flu Season Are Rising, While Vaccinations Are Behind Schedule.
(VOR News) – The U.S. flu season has begun, according to health experts, who also noted a sharp rise in cases countrywide on Friday.
Significant increases were noted by the Centres for Disease Control and Prevention in a number of indicators, such as laboratory tests and ED visits. “For the past few weeks, it has been increasing steadily.” “Yes, we are in flu season right now,” CDC’s Alicia Budd said.
Last week, flu-like sickness was reported at elevated or very elevated levels in 13 states, roughly twice as many as the week before. Dr. William Schaffner, an infectious disease specialist at Vanderbilt University, says Tennessee is seeing a spike in sickness in the Nashville area.
Schaffner said, “Influenza cases have been increasing, but they have increased significantly in the last week.” He noted that up to 25% of patients in a nearby clinic, which is a gauge of illness trends, have flu-like symptoms.
An early focal point was Louisiana.
Our Lady of the Lake Regional Medical Centre, the largest private hospital in the state, in Baton Rouge, has infectious diseases specialist Dr. Catherine O’Neal, who said, “This week is a significant turning point as individuals are affected by the flu.” “Parents frequently say, ‘I have the flu and can’t go to work,’ and ‘Where can I get a flu test?'”
Fever, cough, sore throat, and other influenza-like symptoms are caused by a variety of viruses. COVID-19 is one of them. Another flu season common disease that causes cold-like symptoms but poses serious hazards to infants and the elderly is respiratory syncytial virus (RSV).
Recent CDC numbers indicate a decline in COVID-19 hospitalisations since the summer. According to CDC wastewater data, COVID-19 activity is modest nationwide but elevated in the Midwest.
Although RSV hospitalisations are still marginally more common than flu admissions, they started to rise before flu season cases and currently show signs of perhaps stabilising. RSV activity is low nationwide, but wastewater data shows that it is high in the South.
Based on a number of indicators, such as laboratory results from hospitalised patients and outpatient clinics, as well as the percentage of ED visits that resulted in an influenza diagnosis at discharge, the CDC declared the start of the flu season.
According to Budd, it is too early in the season to determine the effectiveness of the influenza vaccine, and no type of virus seems to be more common.
The flu season last winter was classified as “moderate” overall, but it continued for 21 weeks, and the CDC estimates that 28,000 people died from the virus. With 205 paediatric deaths reported, the situation was particularly dangerous for kids. It was the largest number ever recorded for a conventional influenza season.
The prolonged flu season was probably one of the reasons, Budd added.
The lack of influenza vaccinations was one of the contributing factors. The CDC reports that 80% of children who passed away and had verified vaccination status and were of the right age for flu shots were not completely immunised.
Children’s immunisation rates are drastically lower this year. About 41% of people had a flu shot as of December 7, which is similar to the percentage at the same time last year. For youngsters, the figure is steady, although it is lower than in the previous year, when 44% received an influenza vaccination, according to CDC data.
About 21% of adults and 11% of children are fully vaccinated against COVID-19, which is still a poor vaccination rate.
Influenza experts advise everyone to get vaccinated, especially as people get ready for holiday gatherings where respiratory diseases could spread widely.
“This virus also has the potential to spread from person to person at all those happy, pleasant, and heartwarming events,” Schaffner said. “flu season Vaccination remains a viable option.”
However, Louisiana’s health department announced on Friday that it was rescinding its COVID-19 and flu vaccination recommendations. According to an official, the department’s current position is that people should speak with their doctors about whether the immunisations are suitable for their situation.
The department’s spokesperson, Emma Herrock, did not respond to follow-up questions regarding the policy. Dr. Ralph Abraham, the state’s surgeon general, has expressed concerns in the past regarding the COVID-19 vaccine’s effectiveness and safety.
SOURCE: AP
SEE ALSO:
Social Security Change Approved By Senate Despite Fiscal Concerns
King Charles Could Millions Annually from Renting His Properties
News
Social Security Change Approved By Senate Despite Fiscal Concerns
(VOR News) – On Saturday, the U.S. Congress passed a plan to increase Social Security retirement payouts for some retirees who receive public pensions, a move that critics say will further erode the program’s financial stability. Among these pensioners are former firefighters and police officers.
The Social Security Fairness Act was passed by the Senate on a bipartisan vote of 76-20 just after midnight. The act may lower payments for those receiving pensions and aims to repeal provisions that have existed for 20 years.
The House of Representatives passed the bill last month by a vote of 327-75, meaning that if the Senate also approves it, it would be delivered to Democratic President Joe Biden to become law.
The White House dodged enquiries regarding Social Security’s objectives.
In order to limit government benefits for certain higher-paid employees who are also getting pensions, the measure will reverse a long-standing change to the program. It has become increasingly common in recent years for municipal employees, such as postal workers and firefighters, to face pay limitations.
The vast majority of Americans do not take part in pension plans that provide a fixed return on investment, instead relying on their own savings and Social Security. According to data from the Department of Labour, only 10% of private sector employees in the US are covered by pension plans.
The new rules apply to about 3 percent of Social Security users, or more than 2.5 million people in the United States. Legislators are heavily influenced by the workers and retirees impacted by these rules, and the powerful advocacy organisations that speak for them have been using the legislative process to push for a legislative cure.
According to retirement experts, some retirees may be able to earn hundreds of dollars more in government benefits each month as a result of the move.
According to a Congressional Budget Office analysis, the bill is expected to cost approximately $196 billion over the next 10 years. As a result, federal budget experts are worried that the change could negatively affect the program’s already fragile financial status.
In an interview with the Bipartisan Policy Centre, Emerson Sprick, associate director of economic policy, said he was frustrated by “the overwhelming support in Congress for the contrary of what policy researchers concur on is quite frustrating.”
Instead of eliminating current formulas, we could improve them.
Among these changes is the Social Security Administration’s increased disclosure of the anticipated monetary benefits for these public sector workers.
The Committee for a Responsible Federal Budget, a nonpartisan fiscal think tank, has voiced concerns that the additional cost will impact the program’s ability to continue.
Maya MacGuineas, the organization’s leader, made the declaration, saying, “We are hastening towards our own fiscal ruin.”
“It is noteworthy that lawmakers are in a position to shorten the timeframe by six months, as there are just nine years left before the trust fund for the biggest program in the country runs out.”
Senator Ted Cruz, a Republican, said on the Senate floor on Wednesday that the bill in its current form would “throw granny over the cliff.”
According to what he stated, “every senator who votes to impose a burden of $200 billion on the Social Security Trust Fund is opting to put the interests of senior citizens who have contributed to Social Security and earned those benefits in jeopardy.”
Those who favoured the legislation said that the question of what would happen to Social Security could be settled later.
“Those are significantly longer-term concerns that we must collaboratively address,” a supporter of the idea Senator Michael Bennett told Reuters when asked if the move would affect the government’s capacity to be viable.
SOURCE: BR
SEE ALSO:
King Charles Could Millions Annually from Renting His Properties
Man Creates Candy Cane Car to Spread Christmas Cheer
News
King Charles Could Millions Annually from Renting His Properties
A recent analysis suggests that King Charles might earn over £1 million each year by renting out royal properties to holidaymakers.
The Royal Family’s historic houses and mansions are popular holiday rentals, contributing significantly to the Palace’s revenue.
Pikl Insurance estimates that the royals may earn up to £118,775.85 per month, or around £1,425,310.20 per year, from their holiday rental portfolio. Even after accounting for cancellations, the monarchy is anticipated to generate a net annual income of somewhat more over £1.4 million.
Estimated Annual Rental Income of £1.4 Million
The four primary royal properties accepting public bookings are Balmoral Castle, Castle of Mey’s Captain House, Restormel Manor, and Dumfries House, according to Express.co.uk. Cottages at Balmoral Castle in Scotland are expected to generate £36,798.30 per month after accounting for cancellations.
According to the numbers, the 500-year-old Restormel Manor in Cornwall is the most profitable of them all, earning a solid £47,082 every month. The resort, located in the Fowey Valley, has four booking spaces and six converted barns.
Dumfries House in Ayrshire, Scotland, adds an estimated £31,185.63 and offers 25 rooms for booking. The Castle of Mey’s Captain House in the Scottish Highlands is estimated to generate a more modest £3,709.92 per month, despite the fact that the entire property is available for booking.
The analysts stated, “While the Royal Family’s primary role is undoubtedly to serve the nation, it is clear that their properties are also a valuable asset.” These estimates highlight the royal estate’s considerable financial potential and provide an intriguing peek into the monarchy’s corporate operations.”
Royal Family received £86.3 million from the taxpayer-funded Sovereign Grant in the previous fiscal year, according to official numbers released in July.
All revenues from the Crown Estate, which includes royal households, forestry, agriculture, and offshore wind, are paid directly to the Treasury, with a portion of this money, now 12%, returned to the Royal Family to finance their tasks.
The records also cover a period of jubilation, including the coronation and festivities surrounding the King and Queen’s crowning in May of last year.
-
Politics4 weeks ago
Miller Expects 4.9 Million Foreigners to Leave Canada Voluntarily
-
News3 weeks ago
Nolinor Boeing 737 Crash Lands in Montreal
-
News2 weeks ago
“Shocking Video” Vancouver Police Shoot Armed Suspect 10 Times
-
Tech3 weeks ago
Increasing its Stake in OpenAI by $1.5 Billion is a Possibility for SoftBank.
-
News4 weeks ago
Facebook Securities Fraud Case Dropped
-
Health4 weeks ago
A Canadian Teenager’s Bird Flu Virus Has Mutations