business news in context, analysis with attitude

In California, the Long Beach Post reports that "Gov. Gavin Newsom vetoed a bill that would have given grocery store workers who are laid off as a result of a merger or acquisition a week of severance pay for every year of their service.

"The veto … comes after the governor signed two other grocery worker protection bills. Advocates have been pushing for the measures since last fall when Kroger and Albertsons announced plans for a massive merger. The $24.6 billion deal involving two of the largest grocery chains in the United States faces antitrust scrutiny but, if approved, it could happen in early 2024.

"Newsom said he vetoed the bill—Senate Bill 725—because other laws already protect these workers.  He cited the state’s Grocery Worker Retention law, which since 2016 has required companies that merge or buy another grocer to retain existing workers at least 90 days, and the federal Worker Adjustment and Retraining Notification Act,  which requires companies with 100 or more workers to give them 60 days notice before mass layoffs.

"He also noted that affected workers could tap unemployment insurance."

KC's View:

Sounds like the right decision to me.  Safety nets already exist, and there's no reason to replace them with a Vispring Masterpiece mattress made from Shetland wool, cashmere, silk, alpaca fleece, and horsetail.