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CNBC
5 hours ago
- CNBC
Largest rail union to challenge Union Pacific, Norfolk Southern mega-merger
The largest rail workers' union in the U.S. is planning to oppose the $85 billion mega-merger between freight railroads Union Pacific and Norfolk Southern. SMART Transportation Division (SMART-TD) tells CNBC it will oppose the proposed deal over concerns about Union Pacific's labor practices. In a statement, the railroad union urged all parties to use "measured skepticism" in evaluating how the merger could impact rail workers, safety, service quality, and the long-term health of the freight rail industry. The union is currently in labor negotiations with Union Pacific for a new contract. The union, which represents roughly 125,000 active and retired railroad, bus and mass transit workers — and is part of the larger SMART union which represents over 200,000 workers in all — said in a statement that under its current leadership, Union Pacific has developed "a troubling safety record." "Publicly available data from recent years reveals UP leads the industry in accidents, incidents, injuries, and fatalities. This trend reflects a broader corporate culture that, in our view, prioritizes aggressive operating ratios over worker and public safety," SMART-TD stated. The union alleges "excessive levels" of harassment and retaliatory behavior against workers by Union Pacific. Union Pacific did not immediately respond to a request for comment. The merger, which would be the largest buyout ever in the rail sector, would create the nation's first coast-to-coast freight rail operator, combining Union Pacific's strength in the western U.S. with Norfolk's network primarily covering the eastern U.S. SMART-TD said that Norfolk Southern, "in stark contrast" to Union Pacific, has moved toward more progressive labor and operational policies in recent years, prioritizing training and transparency, and publicly pledging not to furlough conductors or engineers during economic slowdowns. A spokesman for SMART-TD said the labor union will make its case to block the merger before the Safety Transportation Board, which needs to grant approval for the deal, during an open comment period. Union Pacific has faced heat from regulators in Washington, D.C., in recent years, including the STB, over its labor practices.. Union Pacific labor practices have been a focus for another major rail union, The Brotherhood of Locomotive Engineers and Trainmen (BLET), which represents 32,000 workers and recently voiced its concerns directly to President Trump. In a June 2 letter, BLET National President Mark Wallace asked Trump to take "immediate and decisive action" to help protect national security and American rail jobs at the southern U.S. border with Mexico. In the letter to Trump, obtained by CNBC, Wallace said Union Pacific, as well as and other Class I freight rails (though it only cited Union Pacific by name), were trying to move and replace American locomotive engineers with Mexican national train crews to operate trains across the southern Border in Texas and potentially expanding into New Mexico and Arizona. "This mirrors a precedent set by Kansas City Southern (now CPKC), which began using Mexican crews in 2018 to operate trains more than 10 miles into U.S. territory," the union president stated in the letter. Wallace stressed it was not only a job displacement issue but also a national security issue. "Recently, a Mexican national employed by Ferromex — the very company Union Pacific intends to partner with — was arrested by U.S. Customs and Border Protection for smuggling migrants across the border by train. American train crews serve as a vital line of defense, providing an additional layer of scrutiny as trains cross into our territory," the letter stated. BLET has asked President Trump to instruct the U.S. Department of Transportation to prohibit the use of Mexican train crews within the United States, except those who are American citizens or lawful permanent residents. BLET is also requesting that English be the mandated language for railroad employees, something the department recently required for the trucking industry. The Department of Transportation did not immediately respond to a request for comment. The union also asked the president to direct U.S. Customs and Border Protection to require that all trains entering from Mexico stop at the border, where American crews can assume operation and cease negotiating these terms with the railroads. BLET is part of the rail conference of the Teamsters, whose president spoke at the Republican National Convention in 2024. The union did not endorse either major party candidate for president in 2024. On Tuesday, The Teamsters Rail Conference — which represents more than 70,000 unionized rail workers in the U.S. between the Brotherhood of Maintenance of Way Employees Division (BMWED) and the BLET — issued a statement on the merger, saying it would "withhold further comment until we have had the opportunity to meet directly with the executive teams of both carriers. Those discussions will be critical to evaluating our position on this merger and what effect it may have on rail operations, employment, service and public safety," it said.
Yahoo
10 hours ago
- Yahoo
ProPhase Labs Announces Special Meeting of Shareholders and Filing of Preliminary Proxy Statement
Proxy Sets Company on a Path to Attract the Optimal Crypto Treasury Strategy Increase in Authorized Shares to 1 Billion Would Position the Company to Attract Industry-Leading Market Participants and High-Value Crypto Treasury Transactions UNIONDALE, NY, July 29, 2025 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH), (the 'Company' or 'ProPhase') a next generation biotech, genomics and consumer products company, will hold a Special Meeting of Shareholders on August 29, 2025, at 4:00 p.m. Eastern Time at 273 Merrick Road, Lynbrook, NY 11563. The Board of Directors has unanimously recommended shareholders vote 'FOR' all proposals at the upcoming Special Meeting. The Company is seeking to increase the authorized shares to 1 billion to strategically position the Company to attract high-value structured transactions and industry-leading participants - including market makers, asset managers, and innovators in the crypto treasury space - enabling the Company to pursue and optimize a forward-looking digital asset treasury strategy. The Company filed a Preliminary Proxy Statement filed with the U.S. Securities and Exchange Commission on July 28, 2025. For additional information regarding the proposals to be acted upon at the upcoming Special Meeting of Stockholders, please refer to the Company's Preliminary Proxy Statement. A copy of the Preliminary Proxy Statement is available free of charge through the SEC's website at Shareholders are encouraged to review the definitive proxy statement when it becomes available, as it will contain important information regarding these proposals. 'Our Board remains focused on strengthening ProPhase Labs' ability to innovate, reward talent, and create value for our shareholders,' said Ted Karkus, Chairman and Chief Executive Officer of ProPhase Labs. 'The proposals we are presenting at the Special Meeting are key steps that will equip us with the flexibility and resources needed to pursue exciting growth opportunities and respond to a rapidly changing industry landscape.' Mr. Karkus continued, 'In parallel, the company remains focused on its goal of collecting approximately $50 million from our Covid accounts receivables, which would dovetail perfectly with our potential crypto treasury strategy, as well as to continue to develop our BE-Smart™ esophageal cancer test that has enormous potential and to pursue strategic alternatives for Nebula Genomics, including a potential sale.' About ProPhase Labs Inc. ProPhase Labs Inc. (Nasdaq: PRPH) ('ProPhase') is a next-generation biotech, genomics and consumer products company. Our mission is to build a healthier world through bold innovation and actionable insight. We're revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, groundbreaking diagnostic development – such as our potentially life-saving test for the early detection of esophageal cancer – and a world class direct-to-consumer marketing platform for cutting edge OTC dietary supplements. We develop, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. We are committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs' valuable subsidiaries, their synergies, and significant growth underscore our potential for long-term value. Forward-Looking Statements Except for the historical information contained herein, this document contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, plans, objectives and initiatives, including our expectations regarding the future revenue growth potential of each of our subsidiaries, our expected timeline for commercializing our BE-Smart Esophageal Cancer Test, our expectations regarding future liquidity events, the success of our efforts to collect accounts receivables and anticipated timeline for any payments relating thereto, and our ability to successfully transition into a consumer products company. Management believes that these forward-looking statements are reasonable as and when made. However, such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include but are not limited to our ability to obtain and maintain necessary regulatory approvals, general economic conditions, consumer demand for our products and services, challenges relating to entering into and growing new business lines, the competitive environment, and the risk factors listed from time to time in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and any other SEC filings. These forward-looking statements are subject to risks and uncertainties and actual results may differ materially. Details about these risks and uncertainties can be found in our filings with the SEC. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws. Readers are cautioned that forward-looking statements are not guarantees of future performance and are cautioned not to place undue reliance on any forward-looking statements. Important Additional Information and Where to Find It In connection with the proposed actions described herein, ProPhase Labs, Inc. will file a preliminary proxy statement and other materials with the U.S. Securities and Exchange Commission (the "SEC"). BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF PROPHASE LABS ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT DOCUMENTS IN THEIR ENTIRETY, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MATTERS TO BE CONSIDERED AT THE SPECIAL MEETING. Stockholders will be able to obtain, free of charge, copies of the proxy statement (when available), any amendments or supplements to it, and other documents filed by ProPhase Labs with the SEC at the SEC's website at Copies will also be available on the Company's website This press release does not constitute a solicitation of any vote or approval. No proxy card, voting instruction form, or other means of voting will be accepted by ProPhase Labs or any of its representatives at this time. This press release is not an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. All information in this press release is current as of the date indicated. ProPhase Labs undertakes no duty to update any such information, except as required by law. If you have questions concerning the proposals or how to participate in the Special Meeting, please contact the Company at investorrelations@ Media Relations and Institutional Investor Contact:ProPhase Labs, Retail Investor Relations Contact:Renmark Financial CommunicationsJohn Boidman: jboidman@ (416) 644-2020 or (212) in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Indianapolis Star
a day ago
- Indianapolis Star
Head back to school in style with top shoe deals from Hoka, Rothy's, Nike and more
The end of summer doesn't have to be all doom and gloom; with back-to-school shopping, you can stock up and save on cool essentials that'll help ensure the upcoming school year goes off without a hitch—and at a fraction of their usual cost. With school in session soon, many of the top shoe brands are hosting sales on their latest styles. Whether it's sneakers, sandals, dress shoes or flats, brands like Nordstrom, Hoka, Allbirds and more have plenty of deals that will suit your needs. Here are the best shoe sales we found ahead of the fall school semester, plus a glimpse at each brand's top styles that you can snag for less: MORE: Give your kid controllable tech with the Cosmo JrTrack kids smartwatch ⌚️ The 2025 Nordstrom Anniversary Sale opened on July 12 and will end on Sunday, August 3. The sale features up to 50% off on brand-new, pre-season fall and winter styles and deals from top brands like Cole Haan, Peter Millar and Wit & Wisdom. What's in your cart? Shop Chloe Fineman's Nordstrom Anniversary Sale essentials Deal Alert! $20 off viral Zella leggings at the Nordstrom Anniversary Sale Cariuma's end of season event continues to rage on, however, you better act fast as the sale ends soon. Shoppers can score up to 50% off styles for both men and women. More: Cariuma sneakers start at just $43 at this secret sale Allbirds, known for crafting its shoes with sustainable materials like merino wool and eucalyptus tree fiber, has shoes on sale for as low as $55. From running shoes to loungers and flats, you can save big on both men's and women's shoes. More: New and best-selling Allbirds shoes are as low as $60 at this sale The Rothy's Final Few sale continues on, but it won't last long. You can get up to $76 off various shoes like The Double Buckle Mary Jane. More: 🚨 Rothy's iconic flats and sandals are up to $76 off this weekend Hoka is one of the most highly-regarded running shoe brands in the world—and for good reason. While many of their shoes don't drop in price often, there's plenty of options available for runners like the Mach 6 or Clifton One9. Shoes are on sale for as much as 30% off. Nike has its annual back to school sale going on now, offering up to 50% off items, including shoes like the ever popular Dunks. You can take advantage of all Nike deals by using the code SPORT at checkout. The adidas back to school sale offers up to 40% off both men's and women's shoes. However, you'll have to act fast as the sale ends on Friday, August 8. There's plenty of ways to save during back to school season at Steve Madden as shoes are up to 50% off. Students and teachers are also able to unlock a 25% off discount. More: 'The Summer I Turned Pretty' gets a character-inspired shoe collection at Steve Madden 👡 For a limited time, you can save up to 25% off select men's and women's shoes during Dick's Sporting Good's back to school sale. Top brands like Nike, Hoka and adidas are included. HeyDude is offering 25% off its back to school items, which features men's and women's shoes like the TikTok-viral Austin Lift Classic and the Wally Slip Stretch Canvas. Be sure to use the code BTS25 at checkout! More: HeyDude's latest drop is the perfect back-to-school shoe: Shop the Paul Pro 👟
