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‘The Bottom Line’ co-hosts Dagen McDowell and Sean Duffy criticize Biden for taking an economic victory lap as inflation pain persists on ‘The Big Money Show.’
The International Brotherhood of Teamsters said Wednesday that a nationwide UPS strike "is imminent," after walking away from the national bargaining table and demanding the package delivery service company to provide its best and final offer by Friday.
UPS and the Teamsters — the union that represents over 340,000 UPS workers — have been in negotiations over a new contract since April, following complaints from many UPS employees over the 2018 contract, and the company’s working conditions.Ticker Security Last Change Change % UPS UNITED PARCEL SERVICE INC. 176.09 +0.40 +0.23%
Some of the union’s requests include longer breaks, air conditioning in delivery trucks due to last summer’s extreme heat, and higher wages.
UPS WORKER DETAILS LOW PAY, POOR WORKING CONDITIONS AS POTENTIAL STRIKE LOOMS: ‘REALLY DAMAGING’
A UPS delivery truck drives through in intersection in San Francisco, Calif. More than 330,000 UPS union workers are voting to authorize a strike against UPS. The Teamsters union is seeking higher wages and benefits as well as work condition improvem (Photo by Justin Sullivan/Getty Images / Getty Images)
Earlier this month, UPS announced an agreement to add air conditioning and other heat safety measures in delivery vehicles, though other issues were still under negotiation.
The Teamsters gave UPS a week on Tuesday to provide a "stronger economic proposal" for its full- and part-time workers, the union said in a press release. But negotiations resumed the next day after the Teamsters alleged the UPS executives could not go a day without "insulting and ignoring union leaders."
Although both parties have reached a consensus on many non-economic issues, the biggest hangup at this point is a cost-neutral contract.
UPS TEAMSTERS VOTE TO STRIKE
Teamsters General President Sean M. O’Brien speaks during an interview at Teamsters headquarters in Washington, D.C. (Michael A. McCoy/Bloomberg via Getty Images, File / Getty Images)
The Teamsters pointed to UPS’s $100 billion revenue last year, saying the delivery company is making it clear that it has no desire to reward its staff members for the hard work and sacrifices they make.
The union also said UPS returned to the table over the past week with "an appalling" counterproposal which offered "miniscule raises and wage cuts to traditional cost-of-living adjustments."
"Executives at UPS, some of whom get tens of millions of dollars a year, do not care about the hundreds of thousands of American workers who make this company run," Teamsters General President Sean M. O’Brien said in the release. "They don’t care about our members’ families. UPS doesn’t want to pay up. Their actions and insults at the bargaining table have proven they are just another corporation that wants to keep all the money at the top."
WHAT UPS TELLS US ABOUT THE ECONOMY
If UPS does not return its best and final offer by Friday, the Teamsters threaten to strike by Aug. 1, which could cause disruptions in the supply chain in the U.S. and around the world.
The union also said Teamsters nationwide "overwhelmingly" authorized a strike this month with 97% approval.
UPS said Wednesday that its negotiators provided the company’s initial economic proposal, and this week, it was followed-up with a "significantly amended proposal" that addressed key demands from the union.
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"Reaching consensus requires time and serious, detailed discussion, but it also requires give-and-take from both sides," UPS said. "We’re working around the clock to reach an agreement that strengthens our industry-leading pay and benefits ahead of the current contract’s expiration on August 1. We remain at the table ready to negotiate."
College football reporter; joined ESPN in 2008. Graduate of Northwestern University.
Cincinnati freshman football player Jeremiah Kelly, an early enrollee who went through spring practice with the team, died unexpectedly Tuesday morning at his residence.
The school didn’t disclose a cause of death.
Kelly, an 18-year-old offensive lineman from Avon, Ohio, helped his high school team to a 16-0 record and a state championship last fall.
“The Bearcats football family is heartbroken by the sudden loss of this outstanding young man,” Cincinnati coach Scott Satterfield said in a statement. “In the short time Jeremiah has spent with our team, he has made a real impact, both on the field and in our locker room. My prayers are with the Kelly family and those who had the pleasure of knowing Jeremiah.”
Cincinnati completed its spring practice session last week.
“We’ve suffered a heartbreaking loss today,” Cincinnati athletic director John Cunningham said in a statement. “All of us at UC send our love and prayers to the Kelly family and we will do everything that we can to support them and our Bearcats student-athletes in the difficult days and weeks ahead.”
LOS ANGELES — UCLA coach DeShaun Foster said Tuesday that the Bruins just couldn’t pass up the opportunity to get “the No. 1 player in the portal” in former Tennessee quarterback Nico Iamaleava.
In his first comments since Iamaleava’s tumultuous transfer was announced Sunday, Foster said he and the rest of his staff were able to sift through the noise surrounding Iamaleava’s exit from Tennessee, which included reports of increased financial demands from his representation and missed practices.
“You just have to go with your gut and with the people that you trust,” Foster said. “You can’t just read everything on social media and come to a conclusion from that. You have to do a little bit more homework. So I think we did a good job in vetting and figuring out what we wanted to do, and we were able to execute and now we’re here.”
Iamaleava, a five-star prospect from Long Beach, California, was recruited by UCLA out of high school. He entered the portal last Wednesday, and Foster said the familiarity between the two parties helped facilitate the process.
“If it wasn’t a local kid, it would’ve been a little bit more difficult,” Foster said. “But being able to see him play in high school and evaluating that film at Tennessee wasn’t hard to do. A lot of the kids on the team know him and have played with him.”
Foster said Iamaleava won’t be able to join the Bruins until this summer.
Iamaleava was earning $2.4 million with the Vols under the contract he signed with Spyre Sports Group, the Tennessee-based collective, when he was still in high school. The deal would have paid him in the $10 million range altogether had he stayed four years at Tennessee.
Sources told ESPN’s Chris Low that Iamaleava’s representatives wanted a deal in the $4 million range for him to stay at Tennessee for a third season.
When asked to characterize Iamaleava’s NIL deal with UCLA, Foster simply called it “successful” and added that he did not think money played a role in any player staying or going.
“I don’t know what he was looking for or whatnot,” Foster said of Iamaleava’s NIL package. “I know that he accepted our contract and he wants to be a Bruin, so that’s all I’m focused on. He wants to be here, and we’re excited.”
Foster said that once the commitment was secured, he informed quarterback Joey Aguilar, who had transferred to Westwood from App State and was seemingly in line to take over as the Bruins’ starting quarterback this season. According to Foster, Aguilar’s NIL package was not needed to fulfill Iamaleava’s own deal, and he provided Aguilar with the opportunity to stay and compete for the starting job.
“When I was in the NFL, they drafted a running back every year,” Foster said. “Every year I was [at UCLA] as a running back, they recruited more running backs to come here. So, this is a competition sport for coaches, players, everybody.”
As college football begins to more resemble the NFL model, Foster said he expects multiyear deals between players and programs to become an eventual reality. For now, he credited the program’s main collective “Bruins for Life” for allowing UCLA to be in conversations with players they could not be in before.
“I haven’t lost anybody this portal to money. We’ve been able to actually offer people the same amount or even more than what other people have offered them,” Foster said. “You want to be in conversations, you want to play big-time ball, you want to have haters, you want all of this stuff because that means that you’re trending in the right direction.”
UCLA is coming off a 5-7 season in which its offense struggled. The Bruins finished 14th in scoring offense and 12th in total offense in Big Ten play. At Tennessee, Iamaleava threw for 2,619 yards and 19 touchdowns last season and helped lead the Volunteers to a spot in the College Football Playoff.
“This is a good buzz for us,” Foster said. “Keeping the local kids here — a big-time recruit — letting them know that you don’t have to go to certain conferences to be successful and make it to the NFL. You can do it right here in California.”
It’s been a brutal year for Tesla shareholders so far, and a hugely profitable one for short sellers, who bet on a decline in the company’s stock price.
Tesla shorts have generated $11.5 billion in mark-to-market profits in 2025, according to data from S3 Partners. The data reflected Monday’s closing price of $227.50, at which point Tesla shares were down 44% for the year.
The stock rallied about 4% on Tuesday, along with gains in the broader market, heading into Tesla’s first-quarter earnings report after the close of trading. Tesla didn’t immediately respond to a request for comment.
The electric vehicle maker is expected to report a slight decline in year-over-year revenue weeks after announcing a 13% drop in vehicle deliveries for the quarter. With CEO Elon Musk playing a central role in President Donald Trump’s administration, responsible for dramatically cutting the size and capacity of the federal government, Tesla has faced widespread protests in the U.S. and Europe, where Musk has actively supported Germany’s far-right AfD party.
Tesla shares plummeted 36% in the first quarter, their worst performance for any period since 2022, and have continued to drop in April, largely on concerns that President Trump’s sweeping tariffs on top trade partners will increase the cost of parts and materials crucial for EV production, including manufacturing equipment,automotive glass, printed circuit boards and battery cells.
The company is also struggling to keep pace with lower-cost competitors in China, and is a laggard in the robotaxi market, which is currently dominated in the U.S. by Alphabet’s Waymo. Tesla has promised to launch its first driverless ride-hailing offering in Austin, Texas, in June.
Tesla has been the biggest stock decliner among tech megacaps this year, followed by Nvidia, which was down about 28% as of Monday’s close. The chipmaker has been the second-best profit generator for short sellers, generating returns of $9.4 billion, according to S3.
Nvidia is currently the most-shorted stock in terms of value, with $24.6 billion worth sold short, S3 said. Apple is second at $22.2 billion, and Tesla is third at $17.6 billion.
Musk has a long and antagonistic history with short sellers, who have made plenty of money at times during Tesla’s 15 years on the stock market, but have also been burned badly for extended stretches.
In 2020, Tesla publicly mocked short sellers, promoting red satin shorts for sale.
“Limited edition shorts now available at Tesla.com/shortshorts” Musk wrote in a social media post in July of that year, as the stock was in the midst of a steep rally.
Two years earlier, hedge fund manager David Einhorn of Greenlight Capital posted a tweet that he received the pairs of short shorts that Musk had promised him.
“I want to thank @elonmusk for the shorts. He is a man of his word!” Einhorn wrote. Einhorn had previously disclosed that his firm’s bet against Tesla “was our second biggest loser” in the most recent quarter.
In February 2022, after reports surfaced that the Department of Justice was investigating two investors who had shorted Tesla’s stock, Musk told CNBC that he was “greatly encouraged” by the action and said “hedge funds have used short selling and complex derivatives to take advantage of small investors.”
PlainSite founder Aaron Greenspan, a former Tesla short seller and outspoken critic of Musk, sued the Tesla CEO alleging he engaged in stock price manipulation for years through a variety of schemes.
The case was removed to federal court last year. In 2023, Musk’s social network X banned Greenspan and PlainSite, which publishes legal and other public and company records, from the platform.
