ECONOMICS

By Nathan Owens of Agricultural Dive

Summary:

• Meatpacking workers at Hormel Foods’ plant in Austin, Minnesota, voted to reject a “final offer” contract last week in a push for stronger wages, setting the stage for a potential strike at the processor’s largest facility.

• “It’s simply not good enough,” said the United Food and Commercial Workers Local 663 bargaining committee, which represents close to 95% of workers at Hormel’s hometown plant. “Hormel’s record (more…)

As the US blows past $33 trillion in national debt for the first time – and adds roughly $1 billion in new debt every hour, a comprehensive new report from the Heritage Foundation reveals that the US government has tacked on $7.5 trillion in new debt over past two years alone, drawing a stark image of America's economic prospects.

The report sheds light on a series of colossal spending packages rolled out between March 2020 and December 2022, amounting to an (more…)

By Todd Maiden of FreightWaves

The Teamsters union called on the U.S. Senate this week to investigate Yellow’s bankruptcy as part of a broader investigation the lawmaking body’s judiciary committee is conducting on “corporate manipulation of Chapter 11 (more…)