Friday's Fast Five: Week of 9.15
U.A.W. Halts Work at 3 Plants in Contract Fight With Automakers (The New York Times): Members of the United Auto Workers began a strike Friday at three plants in the Midwest, walking out amid a contract dispute over pay, pensions and work hours at the three Detroit automakers. The strike initially involves roughly 12,700 of the union’s 150,000 workers. It is the first walkout to hit Detroit’s Big Three — General Motors, Ford and Stellantis — at once.
Delta will make it harder to get into airport lounges, changes rules to earn elite status (CNBC): Delta Air Lines is changing how customers can earn elite frequent flyer status and is making it harder for many American Express cardholders to get into the carrier’s airport lounges, the latest reality check for air travel’s era of mass luxury.
A 3% Mortgage Rate in a 7% World? This Startup Says It Can Do That (The Wall Street Journal): There are millions of outstanding mortgages with a 3% interest rate. A new startup says it can help today’s home buyers get their hands on them. Roam, a real-estate company that launched Wednesday, is betting that it can popularize an obscure workaround. “Assumable loans” allow sellers to transfer their own mortgage loans to the buyer alongside the house.
The million-dollar hustle changing US sport - how college football athletes are cashing in (BBC): College football in the US is big business. The sport, which kicked off its new season last weekend, is awash with money. The players on whose backs the multi-billion-dollar industry operates are not financially compensated by the universities for which they play. For the past two seasons, college players have been able to sign deals to allow third parties to use their "name, image or likeness" - NIL, for short - and receive money in return. The ground on which college football's business empire has been built is shifting.
Rockefeller Foundation to devote $1 billion to climate change (Axios): The Rockefeller Foundation on Friday announced a $1 billion, five-year commitment to climate change programs. The organization, founded with a fortune built by fossil fuel, is one of the biggest players in behind-the-scenes work to prevent climate change from worsening. The new funding aims to ensure that global investments in sustainable development don't get overtaken by events associated with a warming climate.