Jimmy John’s franchise fires union workers after sick-day campaign


The owners of 10 Minnesota Jimmy John’s sandwich shops — where a rare unionization vote was narrowly rejected last year – have fired six union organizers. The terminated workers are members of the Industrial Workers of the World, a formerly high-profile union better known as the Wobblies, and said they were fired after they put up 3,000 posters (shown here) around Minneapolis as part of a campaign to win paid sick days. Michael Mulligan, president of MikLin Enterprises Inc, which operates the affected Jimmy John’s restaurants, told Reuters that the terminated union workers “crossed well over the line of protected activity” with their latest appeal. “The posters dishonestly state that Jimmy John’s workers are forced to work while sick and suggest that the health of customers is at risk when eating at our restaurants,” said Mulligan, who characterized the IWW as anti-capitalist, anarchist and socialist. “These posters are false and misleading at best, and in the view of our company, they are defamatory, disparaging and dishonest,” added Mulligan, who said that his business has operated for a decade and served 6 million sandwiches without getting diners sick. Most fast-food restaurant workers receive low wages and get little in the way of benefits such as health insurance. Paid sick days are a rarity in the industry, which is known for squeezing out costs in order to offer low-priced fare. One exception is San Francisco, which in 2007 became the first U.S. city to require employers to give workers paid sick leave. Restaurant Opportunities Centers United, a restaurant workers organization, in October released a study showing that  nearly 88 percent of workers reported not receiving paid sick days and that more than 63 percent of all restaurant workers admitted to cooking and serving food while sick. Mulligan said Jimmy John’s employees are not allowed to work if they are having flu-like symptoms. Those employees are expected to find someone to cover their shift if they are sick and may be subject to disciplinary action if they do not. “Since they pay us around minimum wage, most of us can’t afford to take a day off to get well,” said David Boehnke, one of the fired  sandwich-makers at the chain, whose mottos include “Subs so fast you’ll freak.” “This is a public health issue. Jimmy John’s needs to do the right thing,” Boehnke said. Erik Forman, another terminated worker, called the firings ”an attempt to destroy the union.” “Speaking out against the policy of forcing workers to work while sick is not only our right, it is our duty,“ said Forman. ”We will speak out until they realize that no one wants to eat a sandwich filled with cold and flu germs.” Where do you fall? Does the fast-food industry’s sick-day policy make you freak? Did the union members cross the line?

TEXT-Fitch afrms LB Berlin’s & Berlin Hyp’s public sector Pfandbriefe at ‘AAA’


LBB’s and BHH’s downgrade does not affect the maximum rating achievable on a probability of default (PD) basis for LBB and BHH’s public sector Pfandbriefe which is still ‘AAA’. For BHH’s mortgage Pfandbriefe, the maximum achievable rating on a PD basis is now limited to ‘AA+’ from ‘AAA’ previously. For all three programmes, the level of overcollateralisation (OC) supporting the existing rating is increasing. This is because no interest rate and foreign exchange rate stresses have so far been applied in the analysis, in line with Fitch’s counterparty criteria for rating covered bonds from issuers rated at least ‘AA-’ /’F1+’.After LBB’s downgrade, the application of these stresses leads to an increased OC level of 15.3% from 7.9% supporting a ‘AAA’ rating (see ‘Fitch Affirms Landesbank Berlin AG’s Public Sector Pfandbriefe at ‘AAA” dated 6 December 2010 at www.fitchratings.com). This is below the lowest level of OC held in the programme over the past 12 months (76%) and hence justifies the rating affirmation.For BHH’s public sector programme, the level of OC supporting the ‘AAA’ rating has increased to 11.5% from 10.8% when incorporating interest and FX stresses (see ‘Fitch Affirms BerlinHyp’s Public Sector Pfandbriefe at ‘AAA” dated 23 June 2011 at www.fitchratings.com). This is below the lowest level of OC held in this programme over the past 12 months (13.4%), and hence justifies the rating affirmation.The ‘AA+’ rating of BHH’s mortgage covered bonds programme was based on the issuers IDR and a recovery given default analysis. The OC supporting a two notch uplift above the IDR stood at 12%. The agency has decided to put the programme on RWE as the issuer has delivered new and more detailed data and also indicated that it is willing to increase the level of OC. The current nominal OC stands at 17.4%. The agency is currently analysing the pool based on the most recent data and will incorporate interest rate and FX stresses in its determination of the OC supporting a ‘AA+’ rating. Fitch expects the RWE to be resolved by the end of November.

Reality star Kardashian on prenup: You do the math


Some 3.2 million viewers watched Kardashian, 30, one of the highest earning reality TV stars, wed 26 year-old Humphries in a two-part episode of “Keeping Up with the Kardashians” which aired in the United States this week.Asked on Thursday whether she had signed a pre-nuptial agreement, Kardashian said: “I don’t really talk finances. My father was an attorney and I’m a smart girl — I’d like to think so — you can do the math.”I wouldn’t worry about that.”Kardashian, who is in the glitzy Gulf Arab emirates for a series of promotional appearances, began dating Humphries in late 2010. The marriage is her second and his first.The newlywed, who stars with her two sisters and their mother in their eponymous TV show, is planning a foray into Bollywood and expanding her fashion business to the Middle East.Kardashian is thought to be the highest-paid reality star on U.S. television with 2010 earnings estimated at $6 million from the show and its two spinoffs, her clothing line, perfume, jewelry, tanning cream and other product endorsements and paid appearances.”We’ve had a few offers to help us bring a store out here, to the UK, Australia, all over the place,” Kardashian, clad in a sleeveless camel-colored dress and black and gold belt.

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European banks will struggle to tap unsecured funds-Irish official


He also said he expected Allied Irish Banks to submit a salary proposal for a new chief executive to the department this week.AIB, effectively nationalised late last year, wants to break a government-imposed salary ceiling of 500,000 euros ($682,000) in order to attract a new CEO.

UPDATE 1-New Zealand charges captain of stricken ship as cracks appear


* Captain remanded on bailBy Gyles BeckfordWELLINGTON, Oct 12 (Reuters) - The captain of a stricken container ship wedged on a reef off a New Zealand holiday spot appeared in court on Wednesday as fear grew the vessel may break up spewing more fuel-oil on to beaches in the country’s worst environmental disaster in decades.The 47,230-tonne Liberian-flagged Rena has been stranded on a reef 12 nautical miles off Tauranga on the east coast of New Zealand’s North Island since running aground a week ago.The captain, a 44-year old Philippine national, was remanded on bail without plea to a charge of “operating a vessel in a manner causing unnecessary danger or risk”, which carries a maximum fine of NZ$10,000 ($7,810) or 12 months in prison.Prime Minister John Key said the ship’s hull was splitting.”We have identified stress fractures on the boat so we can’t rule out the risk of the ship breaking up,” Key told reporters on a visit to the district.The front half of the 236-metre (775-foot) ship is wedged firmly on the reef with the stern over 90-metre (295-foot) deep water.Heavy swells and strong winds have pounded the vessel for two days, sending mostly empty containers tumbling off the ship, which is listing at about 18 degrees, into the heaving seas.Weather forecasters said conditions should slowly improve over the next two days, with wind and seas easing.Authorities said more than 30 containers have fallen off the ship, with some of them washed up on a small island, Motiti, about eight km (five miles) from the ship, and others bobbing in the sea.The ship was carrying 1,368 containers, 11 of which are said to have hazardous substances in them. Shipping using the port of Tauranga, which is the country’s biggest export port, was being re-routed away from the containers.Authorities said the bad weather was helping to break up and disperse the estimated 300 tonnes of oil that escaped from the ship.”That’s a little bit frustrating because once the oil is on the beach we can actually deal with it, we can remove it from the beach relatively easily,” said Ian Niblock, a spokesman for the clean up operation.HABITATS UNDER THREATOil is scattered along 25 km (16 miles) of the district’s long, golden beaches, which are a magnet for surfers. Nearby waters have an international reputation for big-game fishing.Several hundred people, including soldiers, were scraping the clumps of thick, toxic, fuel oil, some as large as dinner plates, into plastic bags and large bins.Strong winds were blowing oil globules onto coastal roads and a strong tar-like smell was forcing some people to wear masks.”They say the oil could keep washing up for weeks and weeks, that’s going to ruin this place for the summer holidays,” said local resident Kim Greene.Key said the New Zealand government would do whatever necessary to ensure the environment and beaches were cleaned up, and hold those responsible to account.Booms have been placed over some harbour entrances to keep oil out of wetland and wildlife habitats. Hundreds of dead seabirds have been recovered and teams of naturalists have scrubbed and treated scores more for oil contamination.”It has the potential to not only affect some of our most pristine coastal areas … but also estuaries and already threatened marine habitats,” said Auckland University marine biologist scientist, Barbara Bollard-BreenThe ship’s owner, Daina Shipping, a unit of Greece’s Costamare Inc. , and its salvage experts, are responsible for the ship’s recovery, but any plan needs official approval.A floating crane able to remove containers from the ship is on its way from Singapore, but will take at least two weeks to arrive.