Sustainable Finance Newsletter - Best Buy: best shot for entry-level retail workers
By Ross Kerber
Aug 28 (Reuters) -The costof living has emerged as a U.S. presidential campaign issue. A recent study from Revelio Labs - yes there's a Harry Potter allusion in its name - looked to put corporate pay into the context of the "living wages" where the companies are located.
Electronics retailer Best Buy came out well in the comparison. You can read my column on the research viathe link below, as part of our new format for this newsletter.
Remember I am happy to hear news tips, comments, or what you think of the new column format. You can connect with me on LinkedIn or reach out via ross.kerber@thomsonreuters.com
Best Buy: best shot for entry-level retail workers
For workers starting out, getting a job with a Russell 1000 .RUI company is one way to get ahead. Financially speaking it also helps if that job is with Best Buy BBY.N in a smaller metro area.
That's according to a recent study by Revelio Labs, which tracks workforce data for companies, investors and academics, and by Just Capital. The reviewers looked at how the pay of these companies matched up with living costs across the U.S, with an extra focus on low-wage workers.
Using data from the Massachusetts Institute of Technology, the study found software engineers for instance make 137% more than the average local living wage for a single worker with no children. Of course it's no surprise that employees in fancy roles can earn well above local living wages.
But the study also looked at entry level retail sales roles, jobs that are an important first step on the corporate ladder for many workers. What did researchers find and what metro areas stood out? Click here to read my column.
Company News
Home improvement retailer Lowe's LOW.N will no longer participate in surveys by Human Rights Campaign, an advocacy group supporting LGBTQ+ rights, the latest U.S. firm to modify its policies on diversity, equity and inclusion.
Exxon Mobil XOM.N said it expects crude demand to stay above 100 million barrels per day through 2050, similar to today's levels and a forecast 25% higher than top European rival BP. BP.L
Goldman Sachs, GS.N German industrial company BASF BASFn.DE and two other banks agreed to pay $20 million to settle a nearly decade-old antitrust lawsuit accusing them of conspiring to suppress platinum and palladium prices.
On my radar
Maria Bandouveres, 97 years old, is an executive assistant at Hanscom Air Force Base near Boston and recently got an award as one of the longest-serving U.S. civil servants in history, so far an 80-year run. Who says only nonagenarian CEOs like Warren Buffett can stay on the job so long?
The Interfaith Center on Corporate Responsibility, whose members include religiously affiliated investors, said opposition by the CEO group the Business Roundtable to the SEC's climate disclosure rule raised conflicts with the stated positions of many members. A Roundtable representative said it โregularly consults with our members."
Australian employees can now ignore work emails outside normal hours thanks to a new "right to disconnect" law designed to curb the creep of communications and calls into personal lives.
Among newly appointed directors at S&P 500 .SPX companies this year 58% were "diverse," including women and underrepresented minorities, according to a recent Spencer Stuart study, down from 67% in 2023 but up from 39% in 2014. The figures show a continued commitment to diversity, said the search firm's Julie Daum, via email.
"After a period of rapid correction towards more diverse boards, the pace is normalizing or that many boards have reached or approached their initial diversity goals," Daum said.
Reporting by Ross Kerber in Boston; Editing by David Gregorio
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