World South Africa's mainly white Solidarity union will begin a strike on Monday at petrochemicals firm Sasol over a share ownership scheme offered exclusively to black staff. 02 Sep 2018 03:45PM (Updated: 02 Sep 2018 04:35PM) Bookmark JOHANNESBURG: South Africa's mainly white Solidarity union will begin a strike on Monday at petrochemicals firm Sasol over a share ownership scheme offered exclusively to black staff.Under black economic empowerment rules, South African companies are required to meet quotas on black ownership, employment and procurement as part of a drive to reverse decades of exclusion under apartheid."We intend to switch off a different section of Sasol each day by means of well-laid and strategic plans," the union said in a statement.Sasol, world leader in the technology that converts coal and gas to fuel, said last year it would raise its black ownership levels in Sasol South Africa to at least 25 percent in a 21 billion rand (US$1.5 billion) … [Read more...] about White workers at South Africa’s Sasol to strike over black share scheme
Employee share ownership
Elon Musk says taking Tesla private is ‘best path,’ shares jump
SAN FRANCISCO: Chief Executive Elon Musk said on Tuesday he is considering taking Tesla Inc private in what would be the largest deal of its type, moving the electric car maker out of the glare of Wall Street as it goes through a period of rapid growth under tight financial constraints."Am considering taking Tesla private at US$420. Funding secured," Musk said on Twitter https://bit.ly/2Om3gn3. At US$420 per share, a deal would be worth US$72 billion overall.In a letter to Tesla employees published more than an hour later on the company's blog https://www.tesla.com/blog/taking-tesla-private?redirect=no, Musk explained that going private would be "the best path forward." Such a move - over which no final decision had been made - would let Tesla "operate at its best, free from as much distraction and short-term thinking as possible," he wrote.Tesla shares closed up 11 percent at US$379.57, slightly below their all-time high.Asked on Twitter whether Musk would continue to be CEO under … [Read more...] about Elon Musk says taking Tesla private is ‘best path,’ shares jump
NYU Stern professor: Sustainability is ‘good for humanity, but it’s better for business’
caption Jeffrey Hollender. source Courtesy of Jeffrey Hollender Sustainability isn’t just good for humanity – it’s good for business. That’s according to Jeffrey Hollender, cofounder and former CEO of the sustainable consumer product company Seventh Generation, current co-CEO of Sustain Natural, and professor of sustainability at NYU Stern. On an episode of Business Insider’s “The Bottom Line,” Hollender said that sustainability is about more than the environment, and that sustainable business practices are good for business. This article is part of Business Insider’s ongoing series on Better Capitalism. Jeffrey Hollender knows what it means to run a sustainable company. The professor of sustainability at NYU Stern is also the cofounder and former CEO of the sustainable consumer product company Seventh Generation and current co-CEO … [Read more...] about NYU Stern professor: Sustainability is ‘good for humanity, but it’s better for business’
Coffee shortages, payment questions, and shocking closures: Former employees at the coffee chain once purchased by Stormy Daniels’ lawyer share what it was like to work at Tully’s
caption Michael Avenatti. source Mario Tama/Getty Images Michael Avenatti, whose profile has skyrocketed in recent months as Stormy Daniels’ attorney, is under fire in relation to Tully’s – a coffee chain he purchased in 2013 – even though Avenatti says he sold his interest. Dozens of lawsuits (many of which are still unresolved) allege that Tully’s parent company, Global Baristas, failed to pay rent and suppliers. Business Insider spoke with six former Tully’s workers who said they witnessed signs of financial woes, such as inadequate upkeep and issues with suppliers. Some former employees told Business Insider that Avenatti was seemingly involved in financial matters at the chain – one says until all locations abruptly closed in March. Avenatti refutes these claims. Avenatti’s explosive rise coming soon after … [Read more...] about Coffee shortages, payment questions, and shocking closures: Former employees at the coffee chain once purchased by Stormy Daniels’ lawyer share what it was like to work at Tully’s
23 lesser-known cofounders of the biggest tech companies, and where they are now
source Joi Ito/Flickr When a tech company reaches a certain level of success, the names of the founders often become synonymous with the brand they create. At least, that’s the case with founders who are the “face” of the company. Still, we tend to forget that Steve Jobs, Travis Kalanick, and Bill Gates, didn’t create Apple, Uber, and Microsoft alone. On the contrary, these companies might not exist in the same capacity if it weren’t for the co-founders who fly under the radar because they chose to steer clear of the spotlight, or because the pressures brought on by the early years of a quickly-growing company pushed them away. Many of these same people have moved on to create even more multi-million dollar ideas, while others left for a life of philanthropy, or pursued another passion. Here are the lesser known co-founders who helped create some of the biggest tech companies you definitely know: Apple … [Read more...] about 23 lesser-known cofounders of the biggest tech companies, and where they are now