Groupon, Midwest immigration and a Wal-Mart Black Friday walkout?

Talking Business on the Morning Shift

November 13, 2012

(flickr/redmungbean)

Here's what we covered on The Morning Shift:

-Groupon: The Chicago deal-based company's shares have been in a downward spiral since late Thursday, after the company reported its financial results. A quick summation of those results: The company reported about a $3 million loss in its third quarter. Its revenue fell about $20 million short of what analysts had expected. Its operating cash flow also decreased about 35 percent.

Since then, the stock has traded under $3 - that's almost an 80 percent drop since it debuted almost exactly a year ago on the Nasdaq.

What's ahead for the company? Analysts say Groupon needs some serious reform. 

-Midwest immigration: Saying that immigration reform is key to the region's economic development, a group of business and community leaders have banded together to help push for policy change in Washington. This is an outgrowth of the Chicago Council on Global Affairs's immigration taskforce.

"The time is ripe for Midwestern leaders to engage in serious discussions about immigration and the region’s future," says the website, which debuted yesterday. "Pressures to address immigration policy at the national level are beginning to reach a critical stage, and innovative local and regional initiatives are needed."

The bipartisan group - comprised of many sectors - is asking for other business leaders to sign to in a show of support. So far, there's a wide group of business, community and religious leaders who have shown support.

-Black Friday walkout? Unions who have been trying to push for labor change at Wal-Mart are behind the latest effort to ask employees to walk off the job on Black Friday - well, actually, make that Thanksgiving, as Wal-Mart, like other retailers, are now opening the evening of Thanksgiving. 

The United Food and Commercial Workers - behind a recent lawsuit filed against the retailer in Chicago recently - are engaged in a mostly social media campaign to get workers to not show up that day.

 

"The opinions they have expressed don't represent the views of the vast majority of our 1.3 million associates," Wal-Mart spokesman Dan Fogleman said via e-mail, adding that stores will be staffed and ready for Black Friday shopping.