Haci Omer Sabanci Holding AS
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Based in Turkey
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Haci Omer Sabanci Holding AS is a Turkey-based company, which main purpose is to coordinate and perform liaison services regarding the activities of companies operating in various fields including mainly finance, industrials, manufacturing and trade. The Company can make all kinds of savings on various securities provided that it does not qualify as portfolio management and brokerage activities.

This security is an American depositary receipt
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PRO Act introduced for third time as lawmakers cite growing unionization push

9:19 am ET March 1, 2023 (MarketWatch)

By Levi Sumagaysay

As unionization efforts grow around the nation, members of Congress on Tuesday reintroduced the PRO Act, which would provide new protections to workers seeking to organize.

The Protecting the Right to Organize Act, which in 2020 and 2021 was passed by the House of Representatives, has been called the "most important labor legislation" in generations by its supporters. Supported by President Joe Biden, it would also strengthen the National Labor Relations Act and allow the National Labor Relations Board to penalize companies that violate workers' rights.

"Regrettably, for too long, workers have suffered from anti-union attacks and toothless labor laws that undermined their right to form a union," said U.S. Rep Bobby Scott, D-Va., in a statement Tuesday. "As a historic number of Americans put their support behind labor unions, Congress has an urgent responsibility to ensure that workers can join a union and negotiate for higher pay, better benefits, and safer workplaces."

The lawmakers mentioned that last year, a Gallup poll found that 71% of Americans approved of labor unions, the highest point since 1965. Meanwhile, the share of unionized workers in the nation has decreased -- even as more than 200,000 more workers unionized last year from the previous year.

Workers at some of the nation's biggest companies, including Starbucks Corp. (SBUX) and Amazon.com Inc. (AMZN), have voted to unionize or have tried to organize and are battling with the companies -- and the companies and the NLRB are filing complaints against one another.

See: Unions' push at Amazon, Apple and Starbucks could be 'most significant moment in the American labor movement' in decades

Also: Starbucks workers contend company is busting unions

The PRO Act could also mean increased protections for gig workers, who companies like Uber Technologies Inc. (UBER), DoorDash Inc. (DASH) and Lyft Inc. (LYFT) treat as independent contractors. The legislation could make it more difficult for the companies to continue to avoid classifying their drivers and couriers as employees, and the companies have expressed their opposition to the PRO Act.

Scott was joined by U.S. Rep. Brian Fitzpatrick, R-Pa., in reintroducing the bill in the House. Sen. Bernie Sanders, I-Vt., introduced the Senate companion legislation.

The legislation has twice failed to advance in the Senate. The first time around, the bill died in committee in the Senate. The second time around, the bill was referred to committee.

-Levi Sumagaysay


(END) Dow Jones Newswires

March 01, 2023 09:19 ET (14:19 GMT)

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