Autor: Lurdes


Delta is getting out of Venezuela

julho 27, 2017

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Arming 'La Resistencia' in Venezuela

Delta is pulling out of Venezuela as the country sinks deeper into crisis.

The last Delta flight will leave Caracas on September 17. The airline drastically cut service to Venezuela three years ago because of a currency dispute with the government. It was down to a single weekly flight each way between Atlanta and Caracas.



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Dunkin' Donuts drastically scales back expansion plans

julho 27, 2017

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Dunkin' Donuts rolls out mobile ordering

America may run on Dunkin’, but Dunkin’ Donuts is slowing its expansion plans to a light jog.

The chain said Thursday it will only open 380 to 450 locations this year instead of the 585 it had planned. That’s about a third fewer. Most of the paring will be overseas, but Dunkin’ is also scrapping 50 planned locations in the United States.



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Title of Hillary Clinton's campaign memoir revealed

julho 27, 2017

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A typo that could be a symbol for Clinton's campaign

Hillary Clinton will soon tell us all “What Happened.”

The title and cover of her campaign memoir were revealed Thursday by publisher Simon & Schuster.

In the book, to be published September 12, the former secretary of state will describe what it was like to run against Donald Trump as the first woman nominated by a major party for president.

“In the past, for reasons I try to explain, I’ve often felt I had to be careful in public, like I was up on a wire without a net,” Clinton writes in the introduction, according to a posting on Amazon. “Now I’m letting my guard down.”

Related: Bianna and Brianna discuss Clinton campaign interview confusion

Clinton will recount an election marked by “rage, sexism, exhilarating highs and infuriating lows,” according to Simon & Schuster.

Clinton has already written several books about her life and career in politics, including “Hard Choices,” the 2014 book about her time as secretary of state, and “Living History,” a memoir released in 2003.

CNNMoney (New York) First published July 27, 2017: 7:53 AM ET



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Amazon enters Southeast Asia, launching Prime Now service in Singapore

julho 27, 2017

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Jeff Bezos in 60 seconds

Amazon is rolling into Singapore, marking its first foray into Southeast Asia.

The e-commerce giant launched its two-hour delivery service Prime Now in Singapore on Thursday, offering tens of thousands of products — everything from champagne to diapers to instant noodles — for speedy delivery.

Singapore’s “density works really well for us,” said Henry Low, Asia Pacific director of Amazon Prime Now. Singapore packs more than 5.6 million people into an area about half the size Los Angeles.

“For the first time, we can launch [Prime Now] and have it open to the entire country at the same time,” Low said.

Amazon Prime Now launches in Singapore

The service is free for orders that cost at least 40 Singaporean dollars ($29). For an extra 10 Singaporean dollars ($7.37), shoppers can get their goods in an hour.

Related: Amazon will make thousands of job offers next week

Amazon (AMZN, Tech30) has been teasing the launch on social media for the last few days, enlisting influential Singaporean Instagram users to post photos of the seemingly random contents of a Prime Now package.

The Seattle company will be going up against local rivals like Lazada, which is bankrolled by deep pocketed Chinese e-commerce giant Alibaba (BABA, Tech30). Lazada currently offers same-day service for several thousand products.

But Amazon “has deep pockets and takes no prisoners,” said Mike Booker, partner with consulting firm Bain & Company. The online retailer is “probably keen to go up against Alibaba in a contained environment and try out its strategies and offerings,” he added.

Amazon fulfillment center Singapore
Amazon is using its massive new warehouse in Singapore for Prime Now deliveries

Amazon also has brand recognition on its side.

The company is leading in innovation with products and services like Echo and Prime, said Sandy Shen, an analyst with research firm Gartner. “No other e-commerce players have anything similar or even close,” she said.

Southeast Asia’s e-commerce industry pulled in $15 billion last year, and the number of digital consumers has increased 50% this year, according to a recent report from Bain.

Related: Amazon’s new strategy for India: Prime Day deals and food

“Singapore is a good first step,” said Booker, adding that the small state’s e-commerce market “is still in its infancy.”

Only 6.5% of retail in Singapore is online, compared to 25% in China and 16% in the U.S.

Amazon shoppers usually need to pony up for Prime membership to access Prime Now perks. In the U.S., Prime’s annual $99 fee gets members two-day shipping on many products, as well as access to streaming video and music services.

Amazon’s newly built 100,000 square foot warehouse in Singapore seems poised for Prime service, but the launch appears to be delayed.

Low said Prime will be available in Singapore soon, but wouldn’t elaborate on timing or price.

CNNMoney (Hong Kong) First published July 26, 2017: 10:34 PM ET



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Rolling Stone takes on Trump with Trudeau cover

julho 26, 2017

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Who is Justin Trudeau?

“Is Canada’s prime minister the free world’s best hope?”

That’s the question Rolling Stone magazine is asking with its new cover story featuring Justin Trudeau.

The publication tweeted out the cover photo of Canada’s prime minister on Wednesday and posted a link to the feature story written by Stephen Rodrick.

The tweeted photo comes with the queston: “Why can’t he be our president?”

Headlined “Justin Trudeau: The North Star,” the cover story examines some of the glaring differences between President Trump and the leader of his neighbor to the north. Rodrick’s profile of the prime minister includes some jabs at the US president without actually mentioning him by name.

“When Trudeau moves on to his feminist bona fides (women and minorities make up more than half of his Cabinet), he pauses for a moment, but does not lose his train of thought. His words are coherent and will not need to be run through Google Translate when he is done (except if you want to translate his French into English),” Rodrick writes.

And then there is this description of Trudeau’s physical demeanor: “It’s strange to witness: He speaks in a modulated, indoor voice. His dark hair is a color found in nature. At home, there is a glamorous wife and three photogenic children, still not old enough to warm his seat at next week’s G-20 summit or be involved in an espionage scandal.”

There are also some direct swipes at Trump’s foreign and domestic policies.

“The contrasts between here and there are not just superficial,” the story says. “Trump is defunding Planned Parenthood. Trudeau is firmly pro-choice; abortions are provided as part of Canada’s universal health care. (We know Trump’s position on that issue.)” Rodrick also contrasts Trump’s stances on the environment, marijuana laws and the opioid crisis with those of Trudeau.

Some Americans looked to Canada for refuge after Trump was elected as president last November. A trove of move-to-Canada memes showed up on the Internet, while the country’s immigration department website crashed, prompting jokes and speculation that Americans were ready to flee Trump’s America.

Rolling Stone isn’t the first to make the Trump-Trudeau comparison.

Prior to President Trump and Prime Minister Trudeau’s meeting in February, the Toronto Star ran a story titled “Donald Trump and Justin Trudeau: A 21-point comparison.”

CNNMoney (New York) First published July 26, 2017: 10:41 AM ET



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Attention travelers: Start taking out your iPad at airport security

julho 26, 2017

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tablet screening airports
TSA tested out stricter screening requirements for tablets at 10 airports, but now it’s expanding the measure nationwide.

The Transportation Security Administration said on Wednesday it’s boosting security measures by requiring any carry-on electronic larger than a cellphone to be screened separately at U.S. airports.

The new screening will apply to devices like e-readers, iPads, and tablets. As the new procedures are phased in, TSA officers will ask passengers to take out their small electronics and “place them in a bin with nothing on top or below” — just like laptops have been scanned for years, the agency said in a statement on Wednesday.

TSA cited an “an increased threat to aviation security” as the reason for the move.

The new rule eliminates one benefit of leaving laptops at home and traveling with a tablet. In the past, travelers weren’t required to fish out those smaller-sized electronics from their carry-on bags to be X-rayed.

Related: Qatar Airways still wants American Airlines despite rebuffs

In May, the TSA said it was going to test additional screening measures for tablets at 10 U.S. airports. That pilot program was successful and the agency said it plans to expand the rules nationwide “during the weeks and months ahead.”

The agency added that the new rules apply only to “standard” screening lanes and not TSA pre-check fliers.

Some international fliers were thrown for a loop earlier this year after the U.S. banned laptops from the cabin on flights to the U.S. from 10 airports in eight countries in the Middle East and North Africa.

Related: U.S. expects to lift laptop ban soon for remaining flights

Officials cited fears that the devices could be used to smuggle explosives on board.

But earlier this month, U.S. officials resumed allowing laptops inside the plane for passengers coming from those eight countries, saying they had complied with new Homeland Security standards.

Department of Homeland Security Secretary John Kelly has been working to heighten security measures for U.S. fliers since late June, implementing new requirements for nearly 280 airports in more than 100 countries, TSA said Wednesday.

CNNMoney (New York) First published July 26, 2017: 1:57 PM ET



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Chipotle says sick employee responsible for latest outbreak

julho 26, 2017

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Watch: Mice caught on tape in Dallas Chipotle

A sick Chipotle employee caused a norovirus outbreak at a Virginia restaurant earlier this month.

The incident helped drag down the company’s stock price.

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Multiple customers who ate at a Sterling, Virginia Chipotle (CMG) complained of nausea, vomiting and diarrhea. Those symptoms are consistent with the highly contagious norovirus, which has impacted Chipotle restaurants before.

After completely sterilizing the location, Chipotle conducted an investigation to determine the cause of the outbreak. On a call with Wall Street analysts Tuesday evening, CEO Steve Ells said a breakdown in the company’s sick policy was the culprit.

“We believe someone was working while sick,” Ells said.

In response, Ells and other Chipotle executives said they are drilling with employees that they cannot work while contagious. The company’s employees will undergo another round of “comprehensive communication and training” to make sure everyone working at Chipotle understands how to prevent another similar outbreak from occurring again. Ells called the new messaging strategy “relentless training.”

Meanwhile, Ells defended the company’s existing health protocols on Tuesday, calling them “excellent” and “designed by leading experts.” But those rules are only effective if employees follow them, he said.

“We took swift action and made it clear to the entire company that we have a zero-tolerance policy for not following these protocols,” Ells said. “Compliance with our procedures is non-negotiable and a condition of their employment.”

Related: Chipotle tanks on new illness report

Chipotle suffered multiple outbreaks of E. coli and norovirus starting in 2015 that sickened hundreds of customers across about a dozen states. It temporarily closed restaurants and implemented strict health protocols in an attempt to fix the problem.

Last year, a U.S. Attorney for California and the FDA opened a criminal investigation looking into Chipotle’s outbreaks. The company revealed Wednesday that the government subpoenaed Chipotle’s records of the latest outbreak as part of its investigation.

The company can’t seem to keep the bad health news away. Last week, several mice were spotted in a Dallas Chipotle. The rodents squeezed through what Chipolte called “a structural gap in the building,” which was eventually closed.

Ells apologized to Chipotle’s customers on Tuesday.

Wall Street, which had sent the company’s stock down 14% this month, was wooed by Chipotle’s relatively strong second-quarter sales. Shares grew by nearly 3% in pre-market trading Tuesday.

CNNMoney (New York) First published July 26, 2017: 9:28 AM ET




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Cluster of power plants divides a Maryland community

julho 26, 2017

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Power plants bring big money and big concerns to Maryland community

“Five are enough,” says Earl Mitchell, the president of a local civic association in Brandywine, Maryland. “We shouldn’t have any more here.”

Within the next three years, five large power plants will be operating within a 15-mile radius of this Washington, D.C.-area bedroom community. There are already three plants up and running — one burns coal and two use natural gas — and two more are under way.

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Mitchell, 76, is retired and has lived in Brandywine’s North Keys neighborhood for 22 years. His house is just one-eighth of a mile from where the fourth — the PSEG Keys Energy Center power plant — is being built.

He and other area residents worry about the lasting consequences this growing cluster of power plants could have on the environment, their quality of life and their health.

And they are concerned about Brandywine’s youngest inhabitants, too.

Three years from now, when the fifth plant — Panda Mattawoman — opens, Brandywine Elementary school will be within just a handful of miles of two new natural gas-fueled facilities, which will emit a mix of nitrogen oxide, carbon monoxide and particulate matter that can trigger respiratory and other health problems.

“The power plants here are a Catch-22 for us,” said Mitchell, who retired from a 30-year career with the federal government in 1996. “Everyone wants the jobs and tax revenue they bring to a rural area, but we also have concerns.”

Fueling a local economy

Brandywine lies in the southeast corner of Maryland’s Prince George’s County. It’s home to just over 6,700 residents, a vast majority of whom — roughly 72% — are African-American.

Here, newly built residential communities and the sprawling Brandywine Crossing shopping center, are surrounded by farmland, wetlands and historic homes, some of which date back to the late 1800s.

The local economy used to rely on farming. “The sandy soil here was especially conducive to tobacco farming at one time,” said Maryland Senate President Mike Miller, who represents Prince George’s County.

brandywine farm
Farms are still a large part of the landscape in Brandywine.

The tobacco plantations started giving way to more industrial activity in the 1960s as the local government changed its zoning laws to allow for more industrial use.

That zoning helped pave the way for sand and gravel mining operations, a fly ash landfill — and eventually a couple of power plants.

In 2012, after Maryland put out a call to energy companies seeking to produce more power within the state, more power plants came calling. Brandywine offered wide open spaces and existing infrastructure, including transmission lines from the state’s Pepco electricity provider and a nearby interstate natural gas pipeline. There are 74 power plants that are currently active in the state of Maryland, according to the Maryland Public Service Commission.

brandywine map
In three years, five power plants will be operating within a 15-mile radius of Brandywine.

For Prince George’s County, the new plants promised big economic benefits.

“[They] are going to probably be in the top five largest taxpayers of the county,” said Prince George’s County Councilman Mel Franklin. “And they will add to our commercial tax base, which helps us fund education, public safety, transportation.”

The PSEG Keys plant, for example, is expected to contribute $640 million in new tax revenue over the 40-year life of the project and the company said it has committed to using dozens of local small businesses during construction.

The plants are expected to add jobs, too. The two-year construction of the PSEG Keys plant is expected to create 900 jobs — many of them with union representation, said Paul Rosengren, spokesman for PSEG Power. But once the plant is up and running, the full-time slots will dwindle to 28.

Like PSEG, Mattawoman will create 600 to 700 union construction jobs but just 27 permanent jobs to operate the plant. “We’ve committed to hiring locally as much as possible,” said Bill Pentak, vice president of investor relations and public affairs with Panda Power Funds.

pseg plant
PSEG Keys Energy Center is under construction and slated to open next year.

John Russo, who owns a deli restaurant in Brandywine, welcomes the power plants. Over the past six months, the ongoing construction of the PSEG plant has already increased his business by 5%, he said.

“I hope more come around,” he said.

A case of ‘environmental injustice?’

But there are tradeoffs. Some local residents say the economic benefits aren’t worth the toll these plants will take on the surrounding environment and on residents’ health.

PSEG’s plant, for example, is being built on 188 acres of land, much of it wetlands — which local environmental groups say are fragile and need to be protected.

When the fifth plant — the Mattawoman plant — was approved in 2015, several residents said enough.

Last May, the nonprofit Patuxent Riverkeeper and community advocacy Brandywine TB Coalition, filed a federal civil rights complaint against several of the state agencies that approved the construction of the Mattawoman plant.

mattawoman rendering
An illustration of the Panda Mattawoman plant. It will generate enough electricity to power 990,000 homes in Maryland.

The complaint alleges that the agencies failed to assess whether the pollution, traffic and noise caused by the plant and its construction would have a disproportionately adverse impact on the area’s predominantly black community.

Fred Tutman, who heads the Patuxent Riverkeeper, calls it “environmental injustice.”

While Brandywine’s power plants will affect everyone who lives in the community, “the most acutely affected live closest to where these plants are, they are predominantly black communities,” he said.

The complaint cited data from the U.S. Environmental Protection Agency that found the population within both five and 10 miles of the Mattawoman plant site is 67% black.

Tutman believes the community lacks the power to effectively fight back. “By power I don’t mean electricity, I mean political power. I mean economic power,” he said.

riverkeeper two fred tutman
Fred Tutman worries about the area’s wetlands.

But councilman Franklin rejects the environmental injustice claim.

“Brandywine became predominantly African-American 10 to 15 years ago. The history of the industrial uses here predates that, by decades, when Brandywine was an overwhelmingly white and rural community,” he said.

Moreover, he argued the power plants are helping Maryland become more energy-efficient and self-sufficient. “Maryland imports 30% of its energy. These new natural gas plants are cleaner sources of energy that will also help reduce our reliance on imports,” said Franklin.

The complaint also alleged that local residents were not adequately informed about the plant or meaningfully involved in the decision-making process by the state.

Senate President Miller said he didn’t even know the state had approved either the PSEG or the Mattawoman plants.

“By the time I came to know about the PSEG plant, it was too late for me to do anything to stop it,” he said. “And I wasn’t at all aware about Mattawoman or that it had been approved.”

The state declined to comment on the complaint, citing ongoing mediation.

Panda Power’s Pentak said he is aware of the complaint against the state agencies and noted that his company is not part of the mediation process.

“This has been a two-and-a-half year process for us, including public hearings with community members. At the end of it, seven state agencies reviewed our proposal and approved it,” said Pentak. “We’ve done our environmental impact studies and submitted them for review. We are not trying to hide anything.”

For now, Tutman and the other complainants are in the mediation process with the state and cannot comment further.

“We probably can’t stop Mattawoman from being built, but our aim is to at least change the process to ensure the community has more say in decisions on future plants of any kind planned for Brandywine,” Tutman said.

‘It’s the health of my child’

But it may be too late for residents like Brandi Banks-Wells.

Banks-Wells, 36, grew up in Brandywine. She said she had “no clue” the state approved two new plants in such close proximity to the school attended by her 10-year-old son Dallas. If she had known, she would have opposed them. “I feel disappointed. We live here and should have the right to say what comes in [and] what goes out,” she said.

Dallas developed asthma as a baby. He just finished fourth grade at Brandywine Elementary and he’s already been to the doctor eight times so far this year.

“No one’s allowed to smoke around him. Any type of car exhaust, anything like that, can trigger [an asthma attack],” she said.

brandi and dallas
Brandi Banks-Wells is concerned about her son Dallas’ asthma getting worse.

While much less polluting than coal or oil, natural gas plants still emit a dangerous mix of ozone and particulate matter, said Sacoby Wilson, associate professor, University of Maryland School of Public Health.

“Those are small particles that get into your lungs and basically get into your circulatory system. It can cross the blood brain barrier,” said Wilson, who noted that children, pregnant women, the elderly and people with underlying conditions are particularly at risk. “These communities are vulnerable.”

Respiratory symptoms are the number one cause of emergency room visits in Prince George’s County, according to the County Health Department’s 2016 Community Health Assessment.

According to the U.S. Environmental Protection Agency, Brandywine currently doesn’t meet the 2008 ground level ozone standard, even though the agency has noted the air quality there has been improving in recent years. Breathing air containing ozone can reduce lung function and increase respiratory symptoms, thereby aggravating asthma or other respiratory conditions.

Power providers argue natural gas plants are the good guys.

“When a new, highly efficient natural gas power plant comes online, it generally [displaces] an old coal-fired plant. So, what is happening across the United States is that new natural gas generation is displacing less environmentally-friendly coal-fired generation,” said Pentak.

Both PSEG and Mattawoman said they have taken environmental precautions by using advanced technologies to reduce harmful emissions and recycling water for cooling purposes.

Panda Power’s Pentak said the Mattawoman project underwent extensive air quality reviews. Those tests found the plant “would not cause or contribute to a violation of the National Ambient Air Quality Standard,” which measures the level of pollutants considered harmful to public health. Pentak also noted that Mattawoman will be continuously monitored to ensure it meets standards.

But try telling that to residents like Banks-Wells.

“With these plants, honestly, [it’s] the health of my child,” she said. “To put them right next to schools [is] a lack of sensitivity for our health, our children’s health, and for us as a community.”

“I don’t agree with the plants at all coming here,” she said. “I will pick up and move for my kids. It’s just not worth it.”

ethel powell
Ethel Powell doesn’t want any more power plants in and around Brandywine.

Of Ethel Powell’s three grandchildren who live in the county, two have asthma.

Powell, 70, has lived right outside of Brandywine for nearly three decades and fears the two new power plants will further exacerbate the problem.

“Come summertime, when the wind moves East across the area, it picks up all the pollutants in its path,” she said.

She and other community activists have declared the area a dumping ground of sorts. They point to Brandywine’s coal-ash landfill and disposal facility, which stores waste from the coal power plant, another facility for processing soil contaminants, numerous surface sand and gravel pits– even a local Superfund site (an area designated by the EPA as contaminated by hazardous waste), which was previously used by the U.S. Navy and Air Force to store waste and other excess materials.

“Our voices get drowned out because of the money poured into Brandywine by companies behind these [power plant] projects,” said Powell.

CNNMoney (New York) First published July 26, 2017: 6:18 AM ET




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Trump says Apple to build "3 big plants, beautiful plants" in US

julho 26, 2017

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Apple unveils new 'spaceship' headquarters

Apple typically condemns any leaks of its plans, but perhaps this time it will make an exception.

President Trump said Tuesday that Apple CEO Tim Cook has “promised” to build “three big plants, beautiful plants” in the US.

“I said you know, Tim, unless you start building your plants in this country, I won’t consider my administration an economic success,” Trump told The Wall Street Journal. “He called me, and he said they are going forward.”

Reps for Apple did not immediately respond to requests for comment.

It’s unclear where those manufacturing plants will be located, how many people they may employ and which products they might produce.

During the campaign, Trump said he would “get Apple to to build their damn computers and things in this country instead of other countries.”

Related: Silicon Valley’s impossible balancing act

Trump echoed the sentiment shortly after winning the election, telling The New York Times it was his goal to “get Apple to build a big plant in the United States, or many big plants.”

Contrary to public perception, however, Apple does rely on some domestic manufacturing.

Displays for the iPhone and iPad are made by Corning in a factory in Kentucky. It uses cell and Wi-Fi radios made in Texas by Avago Technologies and processors made by Samsung in Austin and New York.

Apple also now manufactures the Mac Pro in Austin.

But the iPhone, Apple’s flagship product, is largely assembled by hundreds of thousands of workers at Chinese manufacturers. By comparison, Apple has 80,000 employees in the U.S., much of which comes from its retail stores.

Earlier this year, Cook said Apple would put $1 billion in a fund intended to bring advanced manufacturing jobs to the U.S. Foxconn, one of Apple’s biggest suppliers, is also planning a new factory in the U.S.

CNNMoney (New York) First published July 25, 2017: 5:29 PM ET



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CEO's pay is under fire amid opioid epidemic

julho 26, 2017

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Ohio sues drugmakers over opioid epidemic

McKesson CEO John Hammergren has earned $692 million in the past 10 years. The Teamsters think that’s too much.

On Wednesday, the union plans to protest Hammergren’s compensation at the drug distributor’s annual shareholder meeting. They argue that McKesson, as a distributor of oxycodone and hydrocodone pills, has played a role in the U.S. opioid epidemic.

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“For years, McKesson allowed opioids to flood into our communities, and despite the irreparable harm and growing reputational and financial risks, the company has continued to reward [Hammergren] with ballooning bonuses and some of the most lucrative pay packages in the country,” Teamsters General Secretary-Treasurer Ken Hall said in a statement.

The union, which holds more than $30 million worth of McKesson shares, has also filed a shareholder proposal to install an independent board chairman who hasn’t previously served as a top executive.

Hammergren, who has been CEO of McKesson since 2001, has served as chairman of the firm since 2002 as well.

“We can’t afford another decade of business as usual at McKesson,” Hall said.

For its part, McKesson is asking shareholders to approve Hammergren’s compensation and oppose the Teamster’s chairman proposal, and says it’s working hard to address the opioid crisis.

“We take our responsibility to help manage the safety and integrity of the pharmaceutical supply chain extremely seriously and are committed to maintaining — and continuously improving — strong programs designed to detect and prevent opioid diversion,” the company said in a statement to CNNMoney.

Related: The opioid epidemic is draining America of workers

The state treasurers of West Virginia, Illinois and Pennsylvania backed the idea of an independent board chairman in a letter sent to McKesson on Monday. They also said McKessen should include a “metric for senior executive compensation related to progress towards the fight against the opioid epidemic.”

McKesson shareholders, including the Teamsters, worry about the company’s financial exposure.

In its petition, the union cites the “potential reputational, legal and regulatory risks McKesson faces over its role in the nation’s opioid epidemic.”

In January, McKesson agreed to pay a $150 million settlement and suspend sales of controlled substances from distribution centers in Colorado, Ohio, Michigan and Florida, according to Justice Department documents. The government said it concluded that the company had not properly identified pharmacy orders that should have been scrutinized due to their frequency and size. In 2008, McKesson was fined $13.25 million for a similar problem, the department said.

Many Teamsters also come from areas afflicted by the opioid epidemic — and for them, the subject of addiction hits home.

At the 2016 Teamsters international convention Travis Bornstein, president of the Local 24 group in Akron, Ohio, spoke about his son Tyler, who died of a heroin overdose in 2014 at age 23.

The Teamsters raised more than $1.4 million to fight addiction after he spoke, according to a union statement about the event.

Hammergren’s 10-year payout of $692 million includes his salary and bonus, as well as the value of his vested shares and the money he made when he exercised his options, according to executive compensation data firm Equilar.

Much of that value comes from the dramatic rise in the company’s stock price. The value of shares has nearly tripled since mid-2007, Equilar said.

McKesson says its board has appointed an independent committee to review the company’s distribution of controlled substances, and that the company has invested millions of dollars to revamp its system for monitoring the distribution of controlled substances.

The Teamsters’ efforts “do little to address the root causes of the opioid epidemic,” the company said. McKesson also said it believes the Teamsters’ actions are related to a labor dispute at one of its facilities.

The Teamsters represent about 1,500 McKesson workers and one group is bargaining for its first contract, according to a union official. But the group said its efforts to hold drug distributors accountable for the opioid crisis stem from the response the issue received at last year’s national convention.

CNNMoney (New York) First published July 25, 2017: 9:03 PM ET




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