{"id":1099351,"date":"2021-12-08T15:58:30","date_gmt":"2021-12-08T20:58:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1099351"},"modified":"2021-12-08T15:58:31","modified_gmt":"2021-12-08T20:58:31","slug":"woke-kelloggs-stock-tanks-as-labor-talks-go-soggy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/woke-kelloggs-stock-tanks-as-labor-talks-go-soggy\/","title":{"rendered":"Woke Kellogg&#039;s Stock Tanks as Labor Talks Go Soggy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwoke-kelloggs-stock-tanks-as-labor-talks-go-soggy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1099351&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/12\/tony-the-antifa-tiger.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">Share of the cereal maker Kellogg dropped sharply Wednesday morning after the company\u2019s talks with its labor union fell apart and workers decided to continue striking.<\/p>\n<p>Shares of Kellogg fell 2.4 percent despite the S&amp;P 500 holding near flat for the day.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Investors have reasons for concern. The company has <a href=\"https:\/\/www.breitbart.com\/news\/kelloggs-union-rejects-deal-with-3-raises-to-extend-strike\/\">said<\/a> it would hire permanent replacements for striking workers but that may be easier said than done. The Labor Department said that employers had 11 million open jobs in October, a record high.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Rutgers University professor Todd Vachon, who teaches classes about labor relations, said he\u2019s not sure the company will be able to hire enough workers to replace the ones who are out on strike in the current economy, and Kellogg\u2019s may have a hard time finding people willing to cross a picket line.<\/p>\n<p>\u201cBy voting \u2018no,\u2019 the workers are making a strong statement that they are not satisfied by the agreement, but they are also signaling they believe they have the leverage that\u2019s needed to win more,\u201d Vachon said.<\/p>\n<p>If Kellogg cannot attract workers to replace the unionized employees, it could have trouble keeping up production in the months ahead. The company also face inflationary pressure that has pushed up the costs of the ingredients of its products.<\/p>\n<p>Kellogg shares have badly lagged the market over the past 12-months. Shares are down 1.3 percent from a year ago while the S&amp;P 500 is up 26.6 percent. Five years ago, Kellogg blacklisted Breitbart News, saying the news organization did not represent its values. Shares have fallen 15.6 percent since then while the broader market has doubled in price.<\/p>\n<p>On Wednesday, Kellogg also lagged behind rivals General Mills, Mondelez, and Conagra.<\/p>\n<p>The company\u2019s sales are at risk of political backlash as it fights with union workers to keep down their wages. Already reviled by the American right for the campaign against Breitbart, it now risks alienating pro-union Democrats and politically independent pro-worker economic nationalists as well.<\/p>\n<div class=\"google-auto-placed ap_container\" readability=\"21.878606965174\">\n<p>The company is&nbsp;<a href=\"https:\/\/www.breitbart.com\/\">effectively controlled<\/a>&nbsp;by a far-left foundation. The W.K. Kellogg Foundation is the seventh-largest philanthropy in the United States, distributing hundreds of millions of dollars in grants. It was founded by cereal&nbsp;magnate W.K. Kellogg after his grandson ran into difficulty getting adequate healthcare in small-town Michigan despite the family\u2019s wealth. \u201cUse the money as you please so long as it promotes the health, happiness and well-being of children,\u201d Kellogg told the foundation\u2019s trustees.<\/p>\n<p>In recent years, however, the foundation has been captured by left-wing activists. It has donated billions to left-wing causes and liberal think tanks,&nbsp;<a href=\"https:\/\/www.breitbart.com\/big-government\/2017\/09\/17\/kellogg-foundation-delivers-a-shocking-dose-of-leftism-with-your-cereal\/\">according<\/a>&nbsp;to a report by the Capital Research Center. Five years ago, the Kellogg Company&nbsp;called for a&nbsp;<a href=\"https:\/\/www.breitbart.com\/big-government\/2016\/11\/30\/dumpkelloggs-kelloggs-declares-hate-45-million-americans-blacklisting-breitbart\/\">blacklist<\/a>&nbsp;of&nbsp;Breitbart, saying that the news organization did not reflect its values. This prompted a #dumpkellogg\u2019s boycott in response that AdWeek&nbsp;<a href=\"https:\/\/www.breitbart.com\/\">described<\/a>&nbsp;as inflicting huge damage to the company\u2019s reputation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share of the cereal maker Kellogg dropped sharply Wednesday morning after the company\u2019s talks with its labor union fell apart and workers decided to continue striking. Shares of Kellogg fell &#8230;<\/p>\n","protected":false},"author":11,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1099351","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1099351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1099351"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1099351\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1099351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1099351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1099351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}