2021 > Bezos Final Farewell, Suez Drama Continues, Historic Alibaba Fine

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Bezos Kisses Amazon Adios – Part Dos

On Thursday, Jeff Bezos released his final letter to shareholders before he relinquishes his CEO title next quarter, to incumbent Andy Jassy, CEO of Amazon Web Services. In the address, Bezos commented on the recent Union election that took place in one of its Alabama warehouses. 

“While the voting results were lopsided and our direct relationship with employees is strong, it’s clear to me that we need a better vision for how we create value for employees — a vision for their success.”

Jeff Bezos

An Appelbaum a Day… 

Keeps poor labor conditions away. Stuart Appelbaum, who led the campaign in Bessemer, Alabama and is the president of the Retail, Wholesale and Department Store Union, says that Bezos’s statement is an admission that their mistreatment claims have been correct, and there needs to be more conversation about how Amazon treats its employees.

“His admission won’t change anything, workers need a union – not just another Amazon public relations effort in damage control.”

Stuart Appelbaum

Why Unionize?

Workplace injury and rigorous schedules have been the main topics during these Union elections. In his new role as Amazon’s Executive Chairman of the Board, Bezos plans to focus on how to make Amazon’s warehouses safer: approximately 40% of work-related injuries are sprains or strains caused by repeating the same motions over and over. There have also been reports of employees having to use shipping packages and bottles to “relieve themselves” due to a lack of bathroom time. Amazon has denied these claims.

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Un-Fair Trade

The Ever Given cargo ship, which famously disrupted the Suez Canal last week and held up $9 billion in global trade a day, has been detained by the Suez Canal Authorities, who are calling to be paid $916M in reparations, including $300M for ‘loss of reputation’. In response, the Japanese owner, Shoei Kisen Kaisha Ltd., responded “you know what, keep the ship”. Not really, Shoei Kisen Kaisha and the Suez Canal Authorities are still negotiating a figure. 

Ali-wahhh-wahhhh

Earlier this week, Chinese e-commerce titan Alibaba received a $2.75B slap on the wrist from China’s State Administration for Market Regulation, totalling 4% of Alibaba’s 2019 revenue. This record fine serves as a conclusion to their high-profile antitrust investigation, which came months after Jack Ma’s criticisms of the Chinese regulatory system. In a press statement, Alibaba called the fine “an important action to safeguard fair market competition”, and then went and pouted in time-out.

Busch Beer is for the dogs

Tired of sharing your beer with your dog? Busch Beer has announced a contest to hire a doggo “Chief Tasting Officer” for its popular Busch Dog Brew, and the winner could take home $20,000! To enter, post a picture of your pooch on social media with the hashtag #BuschCTOcontest… so animal services can come pick them up. JK sounds fun, good luck.

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How to Master Inventory Management

Breaking: Shopify reveals that sellers accrue $2 trillion in costs due to inventory mismanagement like overstocking, out-of-stock items, and preventable returns. Learn how to master your inventory management and reduce your costs with the simple steps given in our latest blog. Check it out!