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Updated: 1 hour 12 min ago

Amazon's hourly workers lose monthly bonuses and stock awards as minimum wage increases

Thu, 10/04/2018 - 11:01
Amazon's minimum-wage increase for its hourly workers comes with a trade-off: no more monthly bonuses and stock awards.

Amazon confirmed in an email to CNBC that the company is getting rid of incentive pay and stock option awards as it increases the minimum wage to $15 per hour. The company, however, stressed that the wage increase "more than compensates" for the loss in other benefits.

B&N Sets Up Process to Evaluate Purchase Offers

Thu, 10/04/2018 - 10:56
Barnes & Noble is setting up "a formal review process to evaluate strategic alternatives for the company," it announced yesterday. This follows what management says are "expressions of interest from multiple parties" about buying B&N, including from chairman Len Riggio, who owns about 19% of the company. In response to the news, B&N stock jumped more than 20% in after-market trading after closing yesterday at $5.46 a share.

Six of this year's 25 MacArthur "genius grant" winners are writers or storytellers

Thu, 10/04/2018 - 05:00
Among the 25 winners of the 2018 John D. and Catherine T. MacArthur Foundation fellowships (widely referred to as the "genius grants," which come with a no-strings-attached award of $625,000) are at least six people who are writers or story-tellers:

  • Natalie Diaz, 40, a poet who teaches at Arizona State University.
  • John Keene, 53, a writer in the Department of African American and African Studies at Rutgers University.
  • Kelly Link, 49, a fiction writer in Northampton, Mass.
  • Dominique Morisseau, 40, a playwright at Signature Theatre in New York City.
  • Ken Ward Jr., 50, an investigative journalist with the Charleston Gazette-Mail.M
  • Raj Jayadev, 43, a community organizer and co-founder of Silicon Valley De-Bug, a story-telling, community organizing, and advocacy organization.

Amazon boosts minimum wage to $15 for all workers following criticism

Tue, 10/02/2018 - 11:48
Amazon.com announced Tuesday that it will raise its minimum wage to $15 an hour for all employees, a move that comes after the tech giant faced harsh criticism for how much it pays its workers.

The pay increase will affect 250,000 Amazon employees and 100,000 seasonal employees hired at Amazon sites during the holiday season. It will affect full-time and part-time workers, as well as Whole Foods Market employees, and will take effect Nov. 1...

Last month, Bernie Sanders introduced a bill calling on Amazon to pay a living wage to its employees, following reports that thousands of Amazon workers rely on federal assistance for food, housing and health care. The median Amazon worker was paid $28,446 last year, according to company filings, which translates to about $13.68 an hour.

Amazon said on Tuesday that all employees, including those who already make $15 an hour, will receive pay increases as a result of its new policy.

Guilty verdict for man at center of Nobel Prize in Literature scandal

Tue, 10/02/2018 - 10:16
Jean-Claude Arnault, the man at the center of a scandal that led to the cancellation of this year's Nobel Prize in Literature, has been found guilty of rape and sentenced to two years in prison by a Swedish court, the New York Times reported. The Swedish Academy declined to comment on the verdict, which came just as the 2019 Nobel season was beginning with the announcement of this year's physiology or medicine recipients.

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