How's the MLB Looking?
The Major League Baseball Players Associated submitted its proposal on how to start the season and it’s quite different than the MLB owner's proposal from last week.
The players countered the owners 82 game schedule with a 114 game season in 123 days. According to the Associated Press, that means the regular season would be played through October 31, while the owners suggested a September 27 regular-season finale.
Both the owners and players agree on an expanded postseason for 2020 which would increase the number of teams from 10 to 14 but the union wants it in place for next season, too.
The MLB Player’s Union also countered the owners’ suggestion of reducing salaries. The original amount is $4 billion. The owners want it reduced to $1.2 billion with the union suggesting $2.8 billion.
If the owners and players come to terms, the season would start on June 30. On March 12, the MLB postponed the start of the season which was originally scheduled for March 26.
What's Going On With Wall Street?
After a weekend of protesting and rioting, the major indices are up on Monday. Now, for anyone tuning into business news, the question has to be asked: Is Wall Street ignoring what’s happening on Main Street?
TheStreet’s Katherine Ross asked this very question to Jim Cramer, who said that instead of looking at the major indices, you have to look at the stocks themselves. And there are other global issues at play here, too.Tensions with China are on the rise, as reports come in that China has asked major agricultural companies to stop buying U.S. farm goods such as soybeans.
And then there’s the never-ending optimism that stems from the reopening of the economy. Wall Street has been very focused on what the reopening will do to restart our economy--so much so that we’ve had days with negative headlines related to the coronavirus pandemic, and yet stocks manage to shrug it off. Tony Owusu, senior digital journalist at TheStreet wrote an Op-Ed on why Wall street will need to step up more.
“Wall Street has mostly shrugged off the weekend’s protest demonstrations...After all, the current protests aren’t as economically disruptive as they could be due to coronavirus lockdown parameters. But Wall Street should care because the anger and frustration that has driven people to the streets aren’t going away any time soon,” he wrote.“Wall Street has the power to aid people marching on main streets across America and we all have the power to advocate for real change at this crucial moment in history,” he continued.
Companies and Athletes Take a Stand
Nationwide rallies about the unfair treatment of black people and police
the brutality continued over the weekend, and now some of the biggest stars
and teams from the world of sports are expressing their support of the
Players from the Lakers, including LeBron James, all posted
the same message on their Instagram accounts stating “If YOU ain't with
US, WE ain't with Y’ALL”
The Minnesota Twins, Vikings, and Timberwolves all took to Twitter to
release a statement about George Floyd’s death at the hands of
Minnesota police officers, which happened within miles of where their
stadiums and arenas are located.
Miami Dolphins head coach Brian Flores released a statement over the
weekend and made suggestions of “how to make a real impact in this
Flores said, “Honesty, transparency, and empathy go a long way in bringing people together and making change” and added, “I hope that the tragedies of the last few weeks will open our hearts and minds to a better way of communicating and hopefully create that change.”
Flores is one of three out of the 32 head coaches in the NFL who are black.
Here are some of the companies that have spoken out so far.
On May 29, both Target CEO Brian Cornell and Walmart CEO Doug McMillon put out statements talking about the inclusivity of their companies and how they’ll monitor and prioritize the safety of their employees.Twitter tweeted about allyship, and changed their main Twitter handles bio to say #BlackLivesMatter.
Amazon put out a statement. Alphabet CEO Sundar Pichai tweeted that Google and YouTubes homepages would show support for racial equality. Nike put out an ad saying “For once, don’t do it.” Which said, “don’t turn your back on racism.” Competitor Adidas retweeted the ad.
Cardinal Health in a statement on Twitter said, “George Floyd’s death never should have happened.” Microsoft CEO Satya Nadella and President Brad Smith have spoken out.Bank of America tweeted that it stands with its partners in Minneapolis-St. Paul inclusion, peace, etc.
We’ve also heard from Lowe’s CEO Marvin Ellison, Intel, Disney, and ViacomCBS, Netflix, and EA.Apple CEO Tim Cook, Snap CEO Evan Spiegel, JP Morgan CEO Jamie Dimon, and BlackRock CEO Larry Fink have all spoken out as of this morning.