Big Tech Is Spending Billions Each Month on This AI Superproject

Big Tech is committing billions each month to the construction of these AI mega data centers. This is where Nvidia, comes in. It's quietly leaning on a set of what we call Silent Partners to get the job done. These companies could benefit greatly from this next wave of the AI boom.

Workers sue Disney claiming they were fraudulently induced to move to Florida from California

MIKE SCHNEIDER
June 21, 2024

ORLANDO, Fla. (AP) -- Disney workers are suing their employer, claiming they were fraudulently induced to move from California to Florida to work in a new office campus only to have those plans later scrapped amid a fight between the entertainment giant and Florida Gov. Ron DeSantis.

In July 2021, the Disney Parks' chief told workers in California that most white-collar employees would be transferred to the new campus in Orlando to consolidate different teams and allow for greater collaboration.

As many as 2,000 workers in digital technology, finance and product development departments would be transferred to the campus located about 20 miles (30 kilometers) from the giant Walt Disney World theme park resort, the company said at the time.

Many workers were reluctant to make the move given their longstanding ties to Southern California and fears of uprooting their families, but Disney encouraged the move by promising a state-of-the-art, centralized workplace and greater affordability in central Florida, according to the class action lawsuit filed earlier this week.

"In sum, employees were incentivized to move through a combination of reward and punishment," the lawsuit said. "An employee could choose to move to a better life in Florida, or alternatively, choose not to move and be terminated by Disney."

By late 2021, as large numbers of Disney employees resisted relocating, Disney told them to put their moving plans on hold. Meanwhile, a group of workers who had decided to relocate, including the lead plaintiffs, Maria De La Cruz and George Fong, sold their California homes with the understanding that the company expected them to make the move, and they purchased homes in central Florida, the lawsuit said.

Fong, who works as a creative director of product design, sold his childhood home which he had inherited.

By June 2022, though, Disney leaders told the California workers that the opening of the new Orlando campus was being delayed and that they could postpone moving until 2026 but were still encouraged to relocate by 2024.

By this time, DeSantis had begun a feud with Disney over the company's public opposition to a Florida law which bars instruction on sexual orientation and gender identity in kindergarten through third grade. With the help of Republicans in the Florida Legislature, DeSantis revamped the governing district for Walt Disney World and installed his own appointees to its board in early 2023. Before the DeSantis takeover, the governing district had been controlled by supporters of Disney for more than five decades.

By May 2023, Disney told its workers that the plans to open the $1 billion campus in Orlando were being scrapped and that the workers who had moved to Florida could move back to California if they chose.

According to the lawsuit, many of the workers who had moved to Florida were worried about their job security if they didn't relocate back to California since most of their team members were still there and the company lacked the facilities in Florida to accommodate the teams.

After the decision to pull the plug on the Orlando campus, housing prices surrounding the campus dropped and the price of housing in California continued to increase, just as mortgage interest rates also rose higher in 2023. Fong and De La Cruz, a vice president of product design, have moved back or plan to move back to California and are seeking undisclosed economic and punitive damages.

"Other similarly situated individuals have been forced to purchase or rent less desirable housing upon their return to California," the lawsuit said.

Disney didn't respond to an email seeking comment on Friday.

Earlier this month, Disney and the DeSantis appointees to Disney World's governing district formally ended their fight over control of the government by signing a 15-year development agreement. Under the deal, the DeSantis appointees committed the district to making infrastructure improvements in exchange for Disney investing up to $17 billion into Disney World over the next two decades.

___

Mike Schneider's book, "Mickey and the Teamsters: A Fight for Fair Unions at Disney," was published in October by the University Press of Florida. Follow him on X, formerly Twitter.

Continue Reading...

Popular

Trump Reportedly Makes Decision On VP Pick, Says Running Mate Will Be At Debate

Former President Donald Trump has made a decision on his vice presidential nominee for the forthcoming election.

These Are The Top Democratic Contenders Who Could Succeed Biden If President Were To Bow Out Of

In the wake of a debate performance that drew widespread criticism, speculation has been reignited about whether President Joe Biden should bow out before the November election.

Weekend Trading: The Key to Conquer Volatility with Tim Sykes! - Ad

Discover the power of weekend trading with Tim Sykes' strategy. Turn market turbulence into your advantage. Trade with us and win in any market condition.

Trump Is Raising Enough Money To Wipe Out Biden's Once Significant Cash Advantage

The campaign of former President Donald Trump has seen a significant increase in donations, surpassing that of President Joe Biden, following Trump's felony conviction.

Hawaii: Cannabis Decriminalization Bill Fails Amid Unified Legislative Opposition

The cannabis decriminalization bill, SB2487, faced rejection from both supporters and detractors in Hawaii's state legislature

Ex-CIA Insider Exposes How Dems Could Rig the Election - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Silicon Valley-backed voter plan for new California city qualifies for November ballot

SAN FRANCISCO (AP) — A Silicon Valley-backed initiative to build a for up to 400,000 people in the San Francisco Bay Area has qualified for the Nov. 5 ballot, elections officials said Tuesday.

8 Large Cap Stocks That Outperformed Nvidia Over The Past Year

Nvidia surged 217.58% over the past year, 173.78% year-to-date. Here are eight large-cap stocks that outperformed it this past year.

'Bombshell' Presentation Exposes Dark Side of Tech Billionaires - Ad

Blistering presentation exposes dark underbelly of Big Tech; their control over the economy and what you can do about it. If you watch just one presentation this year, make sure it's this one.

VIDEO: Huge Cannabis March In Brazil As Supreme Court Considers Decriminalization

Watch the video of this Massive Cannabis March In Brazil advocating for cannabis reform as Supreme Court reconsiders decriminalization...

Top 2 Utilities Stocks That May Rocket Higher In June

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.

Collect 10%+ Dividends From AI's Explosive Growth? - Ad

This one-of-a-kind fund is set to pay out a tsunami of profits to shareholders... Giving you the chance to collect 10%+ dividend yields, year after year! In his brand-new "AI Income Playbook," Marc Lichtenfeld gives you the full scoop on this breakthrough fund... Including its name, ticker symbol, and profit potential.

What's Going On With Cheche Group Shares Today?

Cheche Group shares rise as it expands insurance collaborations with BAIC Group's Beijing Anpeng, enhancing ties with new energy vehicle manufacturers in China.

UAW President Shawn Fain Under Federal Scrutiny For Alleged Retaliation Against Union Leaders, Monitor's Probe Widens

Shawn Fain, the president of the United Auto Workers, is under investigation by an independent federal monitor for alleged retaliation against other union leaders.

One Billionaire's Genius Plan to Save the US Dollar From Collapse? - Ad

If you're holding any US dollars, you need to see what this tech titan is up to now... This could be the biggest change to our financial system since the creation of the Federal Reserve in 1913. Hurry... He has said he could flip the switch "as early as mid 2024."

Bitcoin Rebounds From ETF Outflows, Back Above $61K

Bitcoin (CRYPTO: BTC) has bounced from its poor showing in Monday trading and is trading back above $61,000, despite significant net outflows from spot ETFs.

Nvidia Is Now Part of $3 Trillion Market Cap Club - Ad

Nvidia has become the third company ever to have a market cap greater than $3 trillion. And now, Nvidia is pivoting to the next AI frontier it plans to conquer. This recent move is valued at $1 trillion... at least. A small handful of Nvidia's other partners could see their own stocks benefit from it.

Meta's Ray-Ban Smart Glasses Face New Rival Powered By OpenAI's ChatGPT

Solos set to launch AirGo Vision, smart glasses with Microsoft-backed OpenAI's GPT-4o AI model, challenging Meta's Ray-Ban Meta Smart Glasses.

This Billionaire's Final Masterpiece: "X-9840" - Ad

The investment legend who predicted the rise of Bitcoin, Facebook and streaming services like Netflix... Just released the details on what he's calling Project X-9840. This business mogul is now set to revolutionize MONEY. He has said he could flip the switch "as early as mid 2024."

Microsoft, Amazon Or Palantir: Reddit Users Debate How To Invest $4,900

Reddit users debate best stock picks for $4.9K investment. Microsoft and Amazon seen as strong choices, while Palantir's potential sparks debate.

What's Going On With Taiwan Semi Stock On Wednesday?

Taiwan Semiconductor Industry to maintain global lead for 8-10 years, urged to ensure research security and develop grand strategy for changing supply chains.

Nvidia Is Pivoting to Solve Big Tech's $1 Trillion Problem - Ad

Nvidia is the hottest company in the world thanks to its chip business. But here's the thing: Nvidia is making a massive $1 trillion pivot ... To solve AI's biggest problem. But it's not making this move by itself. A new set of companies are partnering with Nvidia in this trillion-dollar venture.

Australian PM Slams Meta As Arrogant And Irresponsible, Urges Payment To News Outlets: 'They Should Fulfill The Commitments That They Had Previously Given'

Australian Prime Minister Anthony Albanese criticized Meta Platforms Inc. for its arrogant behavior and urged the company to continue paying local media organizations for their content, emphasizing its social responsibility.

America's 'Silent Invasion' - Is Your Town in the Crosshairs? - Ad

A silent invasion is happening all over America. It has nothing to do with the border but will end with even more disastrous results. Why? A faceless entity is coming by air, rail, port, and highway. What does it mean for you and your money? There's still time to prepare, but you must act today.

Russia Confirms Contact With US Over Possible Swap For Detained WSJ Reporter Evan Gershkovich

Russia has confirmed that discussions are underway with the United States regarding a potential prisoner exchange involving WSJ reporter Evan Gershkovich.

Boeing Insists On Adherence To Legal Agreement Post-737 MAX Crashes: Report

Boeing reportedly maintains it adhered to a 2021 agreement aimed at avoiding prosecution after the 737 MAX incidents, countering U.S. claims of non-compliance. The company's commitment to transparent engagement highlights its efforts to navigate legal complexities ahead of the Justice Department's crucial July 7 decision on extending prosecution terms.

Could This New Project Top $1T? - Ad

This billionaire has predicted that his new venture - something I'm calling "X-9840" - could become "a trillion dollar company." Today, only three companies in the US are worth more than $2 trillion. Microsoft... Apple...and Nvidia. This has nothing to do with electric vehicles... Self-driving cars, rockets, brain chips, or satellites.

Joe Biden's Debate Performance Triggers Democratic Panic: 'Biden Sounds Hoarse, Looks Tired And Is Babbling'

President Joe Biden faced a challenging time during the recent presidential debate, leaving Democrats anxious about his ability to secure a second term.

This Biopharma Stock Is Trading 23% Higher In Pre-Market After Wrapping Up $4M Public Offering

The public offering included 1,199,448 shares of common stock and pre-funded warrants to purchase up to 2,568,110 shares of common stock.

Amazon's Betting Big on This Unknown AI Company - Ad

Amazon has just made a stunning $144 million investment in one small AI company. Why? Because this under-the-radar firm holds the key to unleashing the full potential of next-gen AI... Its technology is crucial for the most advanced AI chips, including Nvidia's latest breakthrough.

Snowline Gold's Valley Deposit Emerges As High-Grade Gold Resource In Yukon

Snowline Gold Corp announces highly anticipated initial assessment for Valley deposit in Yukon Territory, Canada, with significant potential for growth and future development.

Colorado's Youth Cannabis Use Hits Historic Lows, Survey Finds

Colorado's latest survey shows declining youth cannabis use alongside broader shifts in risky behaviors and mental health improvements.

Weekend Gains Await You With Tim Sykes! - Ad

Volatility is your ally in weekend trading with Tim Sykes' strategy. Unlock your potential and turn market swings into profit. Start trading now!

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright smartmoneytrading.net
Privacy Policy | Terms of Service