Corporate

Ageism and Multinational Corporations

Lawsuits against major corporations like Ikea and Volkswagen (VW) alleging discrimination against older adults are putting the ostensible practice of ageism under the microscope, according to a recent piece in Forbes. Multinational companies are becoming a lightning rod for such lawsuits, likely because of more stringent legal protections for American workers. IKEA is currently facing at least five age discrimination lawsuits, with four VW employees at its Chattanooga plant recently filing a lawsuit maintaining the company’s “Pact for the Future” program — touted as making VW “slimmer, leaner and younger” — is, in fact, a labor campaign designed to eliminate 30,000 jobs of employees mostly born between 1955 and 1960. Ageism can have more dire consequences in the U.S. compared to other nations, particularly European, where retirees enjoy subsidized pensions and universal health care.

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Mexico Becomes First Country to Approve New NAFTA Deal

Mexico on Wednesday became the first nation to ratify the new North American free-trade agreement (NAFTA), with its Senate approving the proposed rules in a landslide 114 to 4 vote, The Washington Post reports. Mexico remains a strong advocate of the program, which has been a huge boon to its economy, allowing 80 percent of its exports to flow into the U.S. Canada is also on board with the new NAFTA proposal, but is waiting to see how the agreement shakes out with leaders in the U.S. as ratification is pending an agreement between the Trump administration and Congress. Mexico is currently the number one trade partner of the U.S.

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Ballad Health Provides New Details Regarding NICU Plans in East Tennessee

Ballad Health has issued a new response to the Tennessee Department of Health regarding questions about its proposed changes for the neonatal intensive care unit (NICU) in two east Tennessee hospitals, the Johnson City Press reports. In its response, Ballad provided specific details and statistics requested by former Health Commissioner John Dreyzehner. Under the proposed plan, newborns requiring Level III NICU services will be transported to Niswonger Children’s Hospital in Johnson City instead of current Level III hospital Holston Valley Medical Center, which will be downgraded to a Level I provider.

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Pilot Flying J Execs Sentenced to Probation

Four former Pilot Flying J sales executives who pleaded guilty to fraud charges will receive probation for their crimes, The Knoxville News Sentinel reports. Senior U.S. District Court Judge Curtis L. Collier on Wednesday ordered that Kevin Clark, Michael Scott Fenwick, Chris Andrews and Katy Bibee serve probation in lieu of jail time because of their cooperation with law enforcement and the fact the defendants suffered from “the shame, the embarrassment, the loss of jobs” that come with their conviction. Former Pilot Flying J President Mark Hazelwood so far has received the harshest punishment in the case, after Collier ordered him to serve more than 12 years in prison.

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Walgreens Assumes Operations of Fred's Pharmacies

Memphis-based discount retailer Fred’s has completed its multimillion-dollar deal with Walgreens, which will assume operations of pharmacies in 179 Fred’s stores, The Memphis Business Journal reports. Fred’s received $156.1 million in cash proceeds and an additional $20.6 million for its pharmacy inventory in the agreement, announced last September. According to a Jan. 24 filing with the SEC, “the company continues to use the proceeds received in the transaction to pay down the company’s existing indebtedness or for general corporate purposes.”

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