Posts tagged financial services
Mercedes-Benz is yanking 400 jobs out of Michigan — and ‘doubling down’ on Georgia
May 27, 2025 // Georgia is on its way to becoming a key automotive hub in the U.S. Porsche (VWAGY) opened its North American headquarters there in 1998. Kia (HYMTF) opened its first North American plant in West Point in 2010. More recently, Hyundai opened an EV factory there in March 2025, touting it as “the largest economic development project in the state’s history [...].” Back in Michigan, a Mercedes-Benz Financial Services spokesperson told the Detroit Free Press that the company is maintaining 180 R&D jobs in the state. “That number will grow to up to 200 total technical roles in Michigan for Mercedes-Benz,” said communications director Melinda Mernovage. “The roles leaving Michigan are not layoffs, and all employees will have the opportunity to transfer to the Atlanta headquarters.”
Commentary: Why we just sued the US Department of Labor
February 6, 2024 // As one of us testified before Congress last year, the Biden administration remains relentless. It’s now attempting a regulatory workaround with the Department of Labor’s independent contractor rule, which, in a cruel twist, was released just days before Mercatus Center research showed that the protesting independent contractors have been right all along. Mercatus found that the California approach not only failed to create unionizable jobs, but actually decreased overall employment by 4.4 percent and self-employment by 10 percent. Mercatus also noted that this happened despite California ultimately exempting more than 100 professions. The new Labor rule exempts none. The department acknowledges there may be “conceptual overlap” with the California law’s most harmful language. We agree. What’s worse is that the Labor rule is so vague, it’s impossible for anyone to know how to operate legally with independent contractors. The Biden administration sees this as a feature, not a bug.
Commentary: Economic Freedom Is Under Assault In Washington
June 13, 2023 // The DOL’s proposed rule change is yet another economically regressive measure that imposes greater barriers on professionals and consumers alike. Lawmakers that stand on the side of personal freedom, economic independence, and the entrepreneurism that drives economic growth must challenge the Administration on this disastrous approach. Stopping this rule change in its tracks would protect the millions of independent contractors that choose freedom, flexibility, and autonomy, as well as the millions more Americans in dire need of their services.
Big Labor is Targeting Banks and Credit Unions??
March 28, 2022 // Recent successful efforts by big labor to organize and unionize bank and credit union workers in New York, Washington, Oregon and California, highlight the financial industry’s vulnerability. Of course, supervisors and managers are generally prohibited from assisting and excluded from forming a labor union under the National Labor Relations Act (NLRA), nearly every other type of employee in the private sector is generally free to organize and bargain collectively with their employer and engage in other protected concerted activities related to terms and conditions of employment, or choose to refrain from such activities. Being simply employed by a bank, credit union or other financial institution does not prevent the worker from forming or joining a union under the NLRA.