Walmart, Bloomberg, Michael Barr discussed on Bloomberg Surveillance
Now looks generous at six dollars, and that's the lowest target among fourteen analysts in a Bloomberg survey and to put that in context g trading at about nine dollars and twenty cents at the moment. So short rally Dave Nelson short rally net stock. Absolutely sometimes that's just how it goes. Talk about short though, look at what happened a Willis towers Watson. It's down five percents early trading yesterday and said it was in talks with the rival insurance broker for a deal after we wrote that story today a on said, they're no longer pursuing one and so easy. Come easy go you might say a on up six percent in response to that decision to break off discussions theon Chrysler's up four percent, the automakers CEO Mike Manley said he would look. Any possibility of a partnership alliance or merger? Now Meles comment out. Our report on Monday that the owner of freighters Joe has met with advisers about possible. I gotta stop your David with all your experience the video this morning of Mr. Gonen Tokyo was just stunning. It's you've covered this maybe more than anyone else at Bloomberg just extraordinary to see the hundred plus days jailing and to see Mr. goon that footage that we saw hiding in a car. I've heard about it. I haven't seen it yet. To go. But I gotta tell you, you know, when we're talking about deals here. So I've got to bring up Zeh. Oh group police company that owns a fiber optic network. It's up about ten percent. Yo group Z A Y O R their Dow component. No. But they're saying that they're looking at strategic alternatives. And you know, what that means the possibility of a deal and Zale put off an analyst meeting set mid March another science. This week in the middle child said I'm looking at strategic. We got a bachelor retail earnings. I'll just no dollar tree. Biggest company among them up three and a half percent. The dollar store chains fiscal fourth quarter sales at stores open more than a year beat analysts average estimates. Writing on Kohl's calls was something yesterday. Kohls and target. Both. Putting the mass merchants are doing fine. Data. Try nail Ross stores sort of an exception of the off price chain down two and a half percent of their results. Wilson. Thank you so much Bloomberg stocks. Dave Wilson, thanks so much. I mean, boy more retail earnings, and Tom we're going to get to more retail earnings. I'm sure today, but one of the stories in the retail were that really caught my attention was with WalMart. Remember, they reported very strong earnings couple of weeks ago. They are moving they're making a move to shift its economy, people greeter, some, you know, those are folks when you walk in a store, and they greet you very nicely. They're going to try to move that job into ones requiring more physical duties, and apparently that change in the job description is running into some serious legal problems. So to help us kind of break all that down is page. Smith pages of Bloomberg law labor reporter for Bloomberg. She is coming to us from a remote studio page. Thanks so much for joining us. Boy. Those iconic people greet greeters. What is changing what that role? Yeah. That's a good question. So WalMart wouldn't necessary necessarily clarified to us, exactly. What was changing with the role? But. People greeters are often that role is often occupied with by individuals with disabilities and older workers as well as just. A number of other of categories of workers and the role itself is transitioning onto a new title called. Well, I should say some of them are transitioning into a title called customer hosts, so the some disability. Disability advocates have told us that there might be some new requirements like having to have individuals lift heavy boxes. I think the requirement was like twenty five pounds and also maybe being asked to climb ladders and things like that. Let's see it seems like this. Why do you think WalMart is doing is? This simply kind of a cost cutting issue to maybe make these folks, maybe more efficient and more productive. Well, so the again, they have kind of said that it's a business necessity, and they ran some numbers, I guess that it would make more sense for them to kind of transition and ask these folks to do more if they if you will, but in two thousand and five actually there was a leaked internal memo where WalMart did kind of come out and say blatantly that they wanted to quote attract a healthier workforce and reduce health costs pays your article is absolutely superb. Folks, it's got a summary changed jobs description. Spelled trouble up hill. Battle ahead for employees in court attorneys say it's. As we expect page from you and Bloomberg law. It's just brilliantly laid out is there a distinction that these greeters are part time versus pulled full-time is that really what this comes down to know, actually. So the legal distinction the uphill battle that I was in court that I was referencing is actually when folks tried to bring Americans with Disabilities Act claims or ADA claims in court nine times out of ten actually they're doomed to fail because there's such a high burden of proof or the fact that the employees themselves have to prove that the employers were blatantly discriminating. But of Saturday Night Live jokes. But we all agree that greeters at WalMart are conic to the American fabric. It's always somebody to that brand. Ancient they wear a bow tie to Michael Barr. Do you know what I'm talking about here? They're older. They're ancient. Welcome. Okay. Not to make fun about it. Is you say they wanted to pick up boxes now. I mean this. This sounds like it was made for the ADA. Right. So you would think but again just going off of similar cases. So there was a case, for example, and right in twenty eleven against Rite Aid, where kind of similarly a job changed. But a person who said his was a little bit different. He said he was afraid of needles and said that that was a disability. But. Slightly different. But he did try to bring his claim against Rite Aid, and he lost. So in a court of appeals for bud. You know, it really just kind of goes to say that, you know, unless the employers are blatantly saying, they're trying to eliminate a certain group of people then. Yes, the burden of proof is very it's challenging to win these page. How many greeters are there? Do you know? So that's a good question. Another thing we kind of tried to ask wal mart, and they sort of brushed aside. And it all shows also should be said that some of these workers some of the people greeters have kind of already been trained into these new roles the customer hose, okay? But others haven't there's kind of this weird holding pattern. Walmart isn't giving them care when they're going to have a job or if they're going to have to leave it there. Paceman? Thank you so much Bloomberg law. Just brilliant on this wall. Interesting. Walmart store futures negative one. Dow futures negative nineteen. This is Bloomberg. Let's get national headlines right now with Michael Barr. Michael, thank you very much ball. Thank it's on the house oversight committee and the White House are in a standoff over security clearances the committee wants information related to what it alleges are security clearance abuses. But the White House is calling me request overly intrusive and refuse to provide any information about whether President Trump overruled intelligence officials and ordered that his son-in-law Jared Kushner be granted top secret security clearance. President Trump's former attorney Michael Cohen makes another trip this morning to the capitol to meet with the house intelligence committee behind closed doors. Authorities say there are more than a half a dozen people who are still unaccounted for from Sunday's tornado in Alabama that left twenty three people dead ten were from the same family. Global news twenty four hours a day on air and tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Michael Barr. This is Bloomberg com. Michael, thanks so much. German yield finally comes in hire. German yield over the last number days and pulls back a little bit euro one thirteen.