Republican slim-ulus package meets Dem resistance
When it comes to stimulus funding, Republicans have been watching their figures: their latest proposal would cost the federal government $300 billion, less than a sixth the price of March's CARES Act. The new plan would apply unused funds from the past stimulus measures, the new plan would still be able to supply roughly a trillion dollars in aid while limiting already historic levels of federal debt. The smaller price tag hasn’t appealed to Democratic lawmakers, who’ve advocated for a deal closer to $2 trillion. Given these split opinions on proper stimulus size, the slim plan faced an even slimmer chance of being passed going into the yesterday's Senate vote. A 52-47 rejection of the proposal confirmed those expectations, leaving negotiations deadlocked and casting doubt on the likelihood of further federal aid through a bipartisan agreement.
Mall owners become Penney-saver for bankrupt clothier
In a move that will save the clothing industry giant from bankruptcy, JCPenney struck a deal to sell its business to two of its former landlords. Mall owners Simon Property Group and Brookfield Property Group joined forces (along with some bankruptcy lenders) to acquire the 118-year-old company, saving more than 242 stores from liquidation. And when this new partnership takes a Penney, they’ll be leaving an enhanced sense of job security for many employees. The move could help save more than 70,000 jobs whose status seemed uncertain amid May's bankruptcy filing.
Electric vehicle drivers to earn extra $$$ at Uber
After announcing plans to take their entire fleet electric-only by 2030, Uber unveiled a new set of incentives designed to entice drivers to take their feet off the gas. Drivers of hybrid vehicles will earn an additional 50 cents per ride, while drivers with specifically battery-electric vehicles will earn an extra $1.50. While the bonus might seem tiny, an Uber driver working 40-hours/week (at a 1.3 rides/hour average) would make an extra $104/month behind the wheel of a hybrid, and $312/month at the max bonus/ride rate. While drivers won’t be formally required to switch to electric, even when 2030 rolls around, Uber hopes that spending $800 million of its own money on incentives will turbocharge transitions.
If Red Bull gives you wings…
Does Red Wing give you jobs? Boot brand Red Wing Shoes decided to skip the sales and turn Labor Day weekend into a job promotion event instead, turning its 525 stores into hubs where people could search for local trade jobs. The company even temporarily repurposed its customer service phone number into a job search hotline. Red Wing Shoes challenged other companies on social media to promote job opportunities via the #LaborDayOn hashtag. More than 50 brands joined in, including General Mills, New Balance, and Burger King, in what could be a step towards future brands using the holiday to offer customers more than low prices.