Tuesday, September 19, 2023

The Daily Money: Clorox warns of product shortage; UAW strike may grow

The Clorox Company said a cybersecurity attack is causing "widescale disruption" of operations and impacting product availability.

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The Daily Money

ALL THE MONEY NEWS YOU NEED TO KNOW

Tue Sep 19 2023

 

Bailey Schulz Money Reporter

@bailey_schulz

Happy Tuesday, Daily Money readers. It's Bailey Schulz with the day's top headlines.

Certain cleaning products may be harder to find in store. The Clorox Company – which is behind a number of familiar brands like Burt's Bees, Glad and Pine-Sol – said a cybersecurity attack identified last month has led to "widescale disruption" of operations and impacted product availability.

Clorox believes the attack has been contained, but operations remain slow with the company completing orders and processing procedures manually. The cyberattack is expected to be "material" to the company's first-quarter financial results.

4clorox

The Clorox Company on Monday said a cybersecurity attack identified last month is causing "widescale disruption" of operations and impacting product availability.

Clorox / Reviewed

UAW strike updates

United Auto Workers President Shawn Fain threatened to expand the union's strike against the Detroit Three automakers (Ford, General Motors and Stellantis) by noon Friday if "substantial progress" isn't made toward a "fair agreement." So far, the UAW has ordered strikes at three plants in Michigan, Ohio and Missouri in what the union has called the first wave of shutdowns. 

It remains unclear how long it will take the union and automakers to reach a deal, but it's looking more likely that one of UAW's most bold demands on the bargaining table – the four-day workweek – is unlikely to be accepted.

But even if the striking auto workers don't get everything they want, experts say now is a great time to try. 

"I think the overall tenor of the time is that people are cheering for the workers and think that the billionaires, Jeff Bezos of Amazon and Elon Musk, are ripping off people," said Harry Katz, a professor of collective bargaining at Cornell University in Ithaca, New York.  "I'd say the UAW has exceptional bargaining power."

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Free fish could be on the menu today if you've brushed up on your pirate vocabulary.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Shop deals on cleaning essentials today at Amazon, Walmart, Bed Bath & Beyond and more

Clorox said a recent cybersecurity attack damaged portions of its IT infrastructure, causing "widescale disruption" of operations.

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UAW Strikers slow a truck from entering the Ford Michigan Assembly Plant in Wayne on Monday, Sept. 18, 2023.
 

UAW strike: More plant closures loom as union's Fain threatens automakers

The UAW's historic strike against Ford, General Motors and Stellantis could expand by Friday if there's no progress in talks.

UAW President Shawn Fain walks on Friday with dozens of United Auto Workers during a rally outside the UAW-Ford Joint Trusts Center in Detroit.
 

Support for 4-day workweeks grow, even if UAW's demand is unrealistic

Plenty of companies have already conducted 4-day workweek trials to modest success as the model slowly catches on with the American workforce.

UAW President Shawn Fain walks on Friday with dozens of United Auto Workers during a rally outside the UAW-Ford Joint Trusts Center in Detroit.
 

In the UAW strike, timing is everything: 'If not now, when?'

With Detroit automakers earning big profits and a pro-labor Democrat in the White House, the UAW picked a good moment to strike, labor experts say.

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