WASHINGTON — AT&T and other corporations continue to be under scrutiny for failing to follow through on their promises to use tax windfalls to create jobs, raise wages and increase investment in infrastructure.
AT&T’s CEO Randall Stephenson pledged to create 7,000 new jobs if President Trump’s corporate tax cuts passed. Stephenson also signed onto a statement as a member of the Business Roundtable committing to invest in employees and support the communities where they live and work. Instead, the company is cutting jobs and outsourcing work, including relying on lower wage subcontractors to build its 5G network.
AT&T earnings report for the fourth quarter of 2019 showed that the company continues to cut jobs and reduce investment even with record cash flow for 2019 and more than $5 billion in stock buybacks in the preceeding four months.
The company has cut 37,818 jobs since the Tax Cuts and Jobs Act (TCJA) went into effect in 2018, including 4,040 in the fourth quarter of 2019. Capital expenditures declined by more than $1 billion in 2019 as compared to 2018.
AT&T notified the Communications Workers of America (CWA) in January of its plans to cut an additional 200 technician positions in California in February.
Meanwhile, AT&T has continued to cater to the demands of controversial vulture hedge fund Elliott Management, which purchased a small stake in AT&T in September 2019. Elliott is pushing AT&T to extract profits from the company by eliminating jobs, outsourcing work, and divesting critical assets. In early October, AT&T announced that it would sell its Puerto Rico and U.S. Virgin Island Mobility units to Liberty Latin America (LLA), putting at risk the deployment of FirstNet and nearly 900 union jobs.
Elliott has also won a commitment from AT&T to spend $30 billion on stock buybacks, which will drive up its share price to enrich a small group of wealthy investors, leaving fewer resources for building next generation wireless and fiber broadband networks and training workers for the jobs of the future. Credit-rating agency Moody’s has raised concerns that the large cost of the stock buyback plan puts AT&T at risk for a credit downgrade.
CWA has called on AT&T’s CEO, board of directors, the company’s 100 largest investors, and the Business Roundtable to reject damaging proposals from Elliott Management. Last month, the Private Equity Stakeholder Project (PESP) sent a letter to over 140 investors in Elliott Management on CWA’s behalf, highlighting the deteriorating performance of Elliott’s two primary hedge funds.
“The list of communities being destroyed all across America continues to grow with the elimination of jobs at AT&T, despite promises of job creation from company executives,” said CWA President Chris Shelton. “To make matters worse, AT&T is using its profits to enrich wealthy shareholders instead of investing in building the next generation networks that Americans, especially in rural and underserved areas, so desperately need. CWA members and our allies will keep fighting until the company stops eliminating jobs so that they can provide the high-quality service that customers deserve.”
21 Workers Test Positive for Coronavirus at Rock n Roll Ralphs
HOLLYWOOD (KTLA) — Workers rallied Friday outside a Ralphs store in Hollywood where 21 people have tested positive for the coronavirus.
The group called on the store to take more aggressive action when staff test positive for the virus, and to ramp up efforts to protect the grocery store employees, who are considered essential workers on the front lines of the pandemic.
They said they speak for thousands of workers who are afraid they aren’t getting enough protection as the virus continues to spread countywide, infecting more than 24,000 as of Friday.
The Ralphs at 7257 W. Sunset Blvd. has had an outbreak involving several workers who tested positive for the virus, according to the Los Angeles Department of Public Health, which lists businesses and […]
‘Stay Put, Order In’ and Dine With Friends on Zoom, Says Mayor
WEST HOLLYWOOD — WeHo is home to some of the best restaurants in the world and our community members are used to gathering around restaurant tables and enjoying meals together. Now, there’s an opportunity to, instead, gather around kitchen tables at home and enjoy a meal (or many!) while supporting our local restaurants.
“One of the worst things about the Safer At Home directive is being disconnected from friends, neighbors, and the city around us,” said City of West Hollywood Mayor John D’Amico. “Don’t be alone if you don’t have to be – take advantage of the technology out there and invite a friend to Zoom in for Ziti or share some Farfalle over FaceTime.”
Mealtime is a wonderful opportunity to connect with friends, family, and loved ones using virtual teleconferencing technology, while partaking in your favorite delivered or takeout food.
Many West Hollywood restaurants remain open and are offering takeout, curbside, and delivery meals, which are sensitive to social distancing during the emergency. The City of West Hollywood and the West Hollywood Chamber of Commerce have teamed up to offer a directory of “Stay Put, Order In” eateries in West Hollywood, which is accessible by visitingwww.weho.org/coronavirus (click the “Stay Put, Order In” link!) or www.wehochamber.com/dinein. This list is updated daily.
“We need to start hanging out together, and talking, and seeing each other again. So, why not plan to #WeHoDinnerConnect this week – maybe Saturday at 8 p.m.? Or Sunday at 7 p.m.? Or even just 15 minutes of screen-to-screen gossip,” said Mayor D’Amico. “And you don’t have to cook a thing… local restaurants have meals and menus tailored to take-away choices and they’re ready to send food over to your house or make arrangements for you to pick it up.”
If picking up food, remember to wear face coverings, which are required to enter essential businesses.
Amoeba Music Won’t Reopen Original Sunset Boulevard Store
HOLLYWOOD (TimeOut) — In a statement posted to its Instagram account on Monday, Amoeba announced that it would not be reopening its nearly two-decade-old flagship on Sunset Boulevard. Instead, the indie record shop will divert all of its resources to opening its new shop on Hollywood Boulevard, which they still hope to have ready in the fall.
“There are so many unknowns and uncertainties for a business like ours right now,” the statement reads. “The only way we can keep Amoeba Hollywood alive in the future is to make this difficult decision now.”
Our original story about the store’s GoFundMe campaign appears below.
It’s become a pit stop on music-lover’s tours of Hollywood, it’s hosted concerts from Patti Smith and Paul McCartney, and it’s weathered the Great Recession and the transition from CDs to MP3s to all things streaming. But with Amoeba Music’s future more uncertain now than ever, the massive independent record store is turning to its devotees for nearly half a million dollars to try to stay afloat.
In an essay on GoFundMe, Amoeba cofounders Dave Prinz and Marc Weinstein recount […]
County Hospitals Receive 300 iPads for Patients to See Family
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21 Workers Test Positive for Coronavirus at Rock n Roll Ralphs
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This Just In…
- County Hospitals Receive 300 iPads for Patients to See Family
- Processions to Cedars Will Salute Healthcare Workers on National Nurses Day
- WeHo Webinar: Loneliness, Isolation, Depression, and Anxiety During Pandemic
- Texas & California Wet Markets Show Full Extent of Vile Conditions
- White House Gift Shop Selling Coronavirus Commemorative Coins
- Joe Exotic Prison Has 2nd Highest ‘Rona Rate
- Beverly Hills Votes To Resume Plastic Surgery Despite Coronavirus Pandemic