WEDNESDAY,DECEMBER 22 , 2021 .THEWASHINGTONPOST EZ RE A
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DJFMAMJJASOND
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'20 '
S&P 500 IndustryGroupSnapshot
IndustryGroup
Daily%
Chg
- 6 % Chg% 1 Yr + 65. 6 %
Textiles&Apparel 5. 5
Airlines 5. 3
Real EstateMgmt&Dev 4. 4
ConsumerFinance 3. 8
HotelsRestaurants &Leis 3. 8
Food Products - 1. 0
Pharmaceuticals - 0. 8
Biotechnology - 0. 5
Multi-Utilities - 0. 4
HouseholdProducts - 0. 4$1000investedover 1Month
Britain£
0. 75Bloomberg
DJFMAMJJASOND
29,
33,
36,
'20 '
Futures Close 1 D%Chg
Copper 4.35 1.
CrudeOil 71.12 3.
Gold 1788.70 -0.
NaturalGas 3.87 0.
OrangeJuice 1.34 1.
Futures Close 1 D%Chg
Silver 22.53 1.
Sugar 18.74 0.
Soybean 13.13 1.
Wheat 7.99 2.
Corn 5.98 1.CurrencyExchange
2 - yrnote
Yield:
0. 67 %Bank Prime
3. 25 %Exchange-Traded
(Ticker) 1 D%Chg
$ 751 $ 1686
Coffee(COFF.L) 1.
Copper(COPA.L) 0.
Corn (CORN.L) 1.
Cotton(COTN.L) 3.
CrudeOil (CRUD.L) 5.
Gasoline(UGAS.L) 4.
Gold (BULL.L) -0.
NaturalGas (NGAS.L) -1.
Silver(SLVR.L) 1.
Close
15 , 341. 09
1 D%Change
1. 8 %LIBOR3-Month
0. 21 %ConsumerRates
1 D%Change
2. 4 %MoneyMarketNatl
0. 071-Yr ARM
2. 74 %GainersandLosersfromtheS&P 1500 Index
Company Close1 D%
Chg
Citrix SystemsInc 95.05 13.
LaredoPetroleumInc 63.68 13.
Patterson-UTIEnergy 8.72 12.
Talos EnergyInc 10.00 11.
Dave &Buster'sEnt 37.28 11.
HealthEquityInc 43.87 11.
SabreCorp 8.71 11.
SunrunInc 34.81 10.
CallawayGolf Co 27.03 10.
MicronTechnology 90.68 10.
TimkenSteelCorp 15.35 10.
Helmerich&Payne 25.01 9.
NaborsIndustries88.13 9.
DMC GlobalInc 39.88 9.
CenturyAluminumCo 15.43 9.
ApogeeEnterprises 45.99 9.
TriumphGroupInc 18.30 9.
ExpediaGroupInc 177.27 9.
AmericanWoodmark 62.10 9.
HostHotels&Resorts 16.86 8.Company Close
1 D%
Chg
EnerpacTool Group 19.86 -9.
PotlatchDelticCorp 55.70 -5.
MedifastInc 205.00 -5.
QuidelCorp 166.94 -4.
TabulaRasaHealthCare 15.28 -4.
GeneralMills Inc 65.06 -4.
KrogerCo/The 43.87 -3.
PfizerInc 58.95 -3.
CloroxCo/The 171.16 -3.
ModernaInc 268.14 -3.
SproutsFarmersMarket 27.75 -2.
KelloggCo 62.65 -2.
QuestDiagnostics 167.10 -2.
FulgentGeneticsInc 102.50 -2.
IndepRealtyTrust 23.28 -2.
JMSmuckerCo/The 131.89 -2.
Group1Automotive187.51 -2.
InnovivaInc 17.00 -2.
Laboratoryof Amer 302.59 -2.
EquinixInc 804.58 -2.5Yr CD Natl
0. 435 - yrnote
Yield:
1. 22 %RATES
NASDAQCOMPOSITEINDEX
$1000investedover 1Year6Mo CD Natl
0. 14Japan ¥
114. 09Mexico$
20. 81DJFMAMJJASOND
3,
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'20 'YYTD%Change
19. 0 %Close
35 , 492. 70
New Car Loan Natl
3. 41AsiaPacific - 15. 7 % +1 5. 7 %
S&P/ASX200 INDEX 7355.05 0.
CSI 300 INDEX 4913.48 0.
HANGSENGINDEX 22971.33 1.
NIKKEI 225 28517.59 2.Europe - 25. 5 % + 25. 5 %
STXE 600 (EUR)Pr 473.99 1.
CAC 40 INDEX 6964.99 1.
DAX INDEX 15447.44 1.
FTSE 100 INDEX 7297.41 1.10 - yrnote
Yield:
1. 47 %Close
4, 649. 23
DowJones 30 Industrials
Company Close^1 DCh%g ChYYgT%D
3M Co 172.92 0.2 -1.
AmerExpCo 160.91 3.2 33.
AmgenInc 220.92 0.4 -3.
AppleInc 172.99 1.9 30.
Boeing 199.52 5.9 -6.
Caterpillr 198.31 1.5 8.
Chevron 115.47 1.6 36.
Coca-Cola 57.77 0.4 5.
CscSys/DE 61.03 1.1 36.
Dow Inc 54.20 1.3 -2.
GldmanSchs 380.32 2.3 44.
HnywllInt 201.67 0.9 -
HomeDepot 390.47 0.3 47.
IBM 128.97 1.5 7.
Intel Corp 50.77 2.4 1.
Company Close^1 DCh%gChYYgT%D
J&J 167.21 -0.3 6.
JPMorgan 156.09 1.4 22.
McDonald's 264.39 1.0 23.
Merck&Co75.54 -1.1 -3.
Microsoft 327.29 2.3 47.
NIKE Inc 166.63 6.1 17.
Prcter&Gmbl 157.76 -0.1 13.
salsfrc.cm 252.55 2.2 13.
Travelers Cos I155.52 1.3 10.
UntdHlthGr 487.21 0.7 38.
VerznComm 52.78 -0.6 -10.
Visa Inc 215.38 3.2 -1.
Walgreens 49.96 2.3 25.
Walmart 139.62 0.3 -3.
Walt Disney 151.05 3.1 -16.1Yr CD Natl
0. 2930-Yr Fixed mtge
3. 20 %COMMODITIES EU €
- 89
INTERNATIONALSTOCKMARKETS
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Yield:
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23. 8 %15-Yr Fixed mtge
2. 50 %Canada$
1. 291 D%Change
1. 6 %Note: Bank primeis from 10 majorbanks.FederalFundsrate is the market
rate, whichcan vary from the federaltargetrate. LIBORis the London
InterbankOfferedRate. Consumerrates are from Bankrate. All figuresas of
4:30 p.m. New York time.FederalFunds
0. 25 %Markets YYTD%Chg
Americas Close
Daily
%Chg
- 1 % + 20. 1 %
BRAZILIBOVESPAINDEX 105499.90 0.
S&P/TSXCOMPOSITEINDEX 20924.87 1.
S&P/BMVIPC 52085.28 0.
- 1 % + 20. 1 %
HomeEquityLoan Natl
6. 46STANDARD&POOR'S
Data and graphicsby:DOWJONES
' 21
BrazilR$
5. 74YYTD%Change
16. 0 %per week, as well as wage in-
creases.Italso wasinvolvedina
weeks-longwalkoutatNabisco
thatconcludedinlateSeptem-
ber.
Experts saythe wave of labor
activism playing out across the
countrythisyearreflects the
added leverageworkerswield in
atightlabor market,aswell as a
heightened sense of their contri-
butions to employers’ bottom
lines. It alsocomesataunique
economicmomentinwhich
healthycorporateprofits,supplychainbottlenecksandashortage
of blue-collar workers has
strengthened thehandoforga-
nizedlabor.
Kellogg’shas seenstrongde-
mandfor its signature breakfast
offerings, including Rice
Krispies,RaisinBranand Frost-
ed Flakes,during thecoronavi-
ruspandemic.Salesgrew5.6per-
cent, to $3.6billion,inthe most
recent quarter compared with
the same period lastyear, while
profitsshotup9.1percent.
Union members overwhelm-BYAARONGREGG
Unionized Kellogg’s workers
in four states have approveda
newfive-year contract, bringing
aswiftendtooneofthelongest-
runningstrikesof2021.
Employeesinfourstatesvoted
to accept atentative agreement
reachedlastweek, according to
company andunion representa-
tives. Thefive-year contractin-
cludesacross-the-boardwagein-
creasesandcost-of-livingadjust-
ments, as well as expanded
health care andretirementben-
efits.Italso provides apathway
forneweremployeestoreachthe
company’scoveted“legacy”wage
and benefitstatus, partially ad-
dressingaconcern thatmany
workers had raisedabout atwo-
tieredworkforce.
Overthecourseofthe11-week
strike,there had been multiple
entreaties from policymakers to
returntothebargainingtable,as
wellascriticismfromPresident
Biden and otherprominentlaw-
makers after Kellogg’s saidit
would find permanent replace-
ments for the 1,400 cereal plant
workers in Michigan, Nebraska,
PennsylvaniaandTennesseewho
wentonstrikeOct.5.
With theratification vote,
unionmembers return to work
Monday.
AnthonyShelton,president of
the Bakery, Confectionery, To-
baccoWorkersandGrainMillers
International Union, lauded the
strikerswho“courageouslystood
their groundand sacrificed so
much in order to achieve afair
contract.”Heemphasized that
the deal “doesnot includeany
concessions.”
Kellogg’schiefexecutive,Steve
Cahillane,was pleased thatthe
offer —one of at leastseven the
companycobbledtogether over
the course of negotiations—
would bring employees back to
work. “Welook forward to [em-
ployees’] return andcontinuing
to produce ourbeloved cereal
brands for our customers and
consumers,”hesaid in astate-
ment.
Thecontractleaves in place a
“two-tiered”system thatgives
newer employees withlower
wagesandslimmerbenefitsthan
legacystaff. But thecompany
agreedtocreatean“accelerated”
pathfromonetiertothenext.
Michigan State Rep. Jim
Haadsma(D),alabor relations
and workers’ compensation law-
yerwhohaslivedinBattleCreek
since 1994, called the outcomea
significant victoryfor the labor
movement.
“This showsthe continued
evolvingmuscularity of orga-
nized labor,” Haadsmasaid.
“[Kellogg’sworkers]heldon and
gotalittle bit more than what
theywereafforded in the con-
tracttwoorthreeweeksago.”
Thefactthataunionwasable
to negotiate anyconcessions at
allfromamultinationalcorpora-
tioncould serveasapowerful
signal to other unions,hesaid,
possibly encouragingworkers
elsewheretobemore assertive.
“Itwillbeinterestingtoseewhat
it doesinterms of provoking
moreemployees to think about
thebenefitsthatexistbyrelation
ofbelongingtoaunion,andwhat
willhappenatotherunions.”
Theunionbehind theKel-
logg’sdrive hasbeen aforcein
several largestrikes, includinga
19-daywalkoutataKansasFrito-
Layplant thatended in acon-
tractguaranteeing one dayoffingly rejected the firsttentative
contract,whichincludeda3per-
centraiseand alimitedpathway
for newworkers to reach the
coveted “legacy” wagestatus,
presented twoweeks ago. “It
appears the unioncreated unre-
alistic expectationsfor our em-
ployees,”Kellogg’ssaidinaDec.
statement.
Thecompanythensaid it had
no choicebut to bring in new
hirestocoverforthoseonstrike,
adding thatposting for perma-
nentworkers would helpthem
find qualified people.“We have
an obligation to ourcustomers
and consumers to continue to
provide the cereals thatthey
knowand love,”the company
wrote. It is unclear whether the
companyever hired anyreplace-
ment workers, though. Itscereal
plantssincethestartofthestrike
have been staffed by somesala-
riedemployeesand temporary
workers.
Butdayslater,the White
House put outastatement criti-
cizing the companyfor bringing
“threats and intimidation”
against its unionized workers.“Permanently replacingstriking
workers is an existential attack
on theunionand itsmembers’
jobsand livelihoods,”Biden
wrote.
Sen.BernieSanders(I-Vt.)also
denounced the idea in an inter-
viewlastweek withThe Wash-
ingtonPost.
“During the early partsofthe
pandemicthesepeoplewerecon-
sidered to be heroes and hero-
ines, which in facttheyare. But
now,accordingtoKellogg’s,they
are simply disposable workers,”
he said. “Tojustreplace them is
extraordinarilyugly.”
AKellogg’sspokesperson de-
clined to commentonthose
statements. But last week,the
companyemphasized in anews
release thatitsought no conces-
sions from workers in either of
the tentative contracts put to a
vote.Italsonotedthatmostofits
U.S. cerealplant workers pay
nothingfortheirhealthcare,and
thatits mostsenior employees
makenearly$36perhour.
“Wevalueallofouremployees.
They have enabled Kellogg to
provide food to Americans for
more than 115 years,”Cahillane
saidinastatement.
Trevor Bidelman, president of
the union’s Battle Creekchapter,
said workers had worriedthey
might permanently lose their
jobs. But supportfromhigh-pro-
file politicians solidified mem-
bersintheirdecisiontopushfor
anewcontract.
In Michigan,where Kellogg’s
is headquartered, the state’sat-
torneygeneral andahandful of
Democratic statelawmakers
have walked thepicket line in
supportofworkers, as did Sand-
ers.
U.S. Labor SecretaryMarty
Walsh, who visited with union
members in Lancaster,Pa.,in
late October,expressedsupport
for workers andurged them to
resolvetheirdifferenceswiththe
company.Nebraska Gov. Pete
Ricketts(R) wrote aletter to
Cahillane,calling on thecompa-
nytorecognizethecontributions
itsworkershavemadeduringthe
pandemic.
“Despite the challengesofthe
global pandemic, theyshowed
up dayafter daytodotheir jobs
so thatacross thecountrythere
was food on the shelves,”the
lettersaid,accordingtotheAsso-
ciated Press.“Theseworkers
helpedKellogg’sincrease sales
and revenue (and grow netin-
come by over 30%)from2019to
2020 —atime when manybusi-
nesses enduredlosses due to the
financial headwinds of the pan-
demic.”
[email protected]Kellogg’s workers accept 5-year contract, ending strike
SETHHERALD/AGENCEFRANCE-PRESSE/GETTYIMAGES
Sen.BernieSanders(I-Vt.),center,makes his waythrough thecrowd after speakingtostriking Kellogg’s employeesin Battle Creek, Mich.,
on Dec. 17.Anew five-yearcontractendsan11-week strikeand includes wageand cost-of-living increasesandexpandedbenefits.Agreementcontinues
‘two-tiered’systembut
createsacceleratedpath“Thisshowsthe continuedevolvingmuscularityoforganized labor.[Kellogg’sworkers]held on andgot alittle bit morethan whatthey were affordedin the contracttwo or threeweeksago.”
MichiganState Rep. Jim Haadsma(D)