News
Union supporter withdraws causing Medieval Times labor efforts to crumble
Medieval Times labor efforts have suffered a major setback as the union backing workers at the Buena Park castle has decided to pull out its support. The American Guild of Variety Artists, which had been supporting workers organizing at both the Buena Park location and another castle in New Jersey, submitted paperwork to withdraw its backing. This decision came after actors at both locations requested the National Labor Relations Board to hold elections to remove the AGVA as their union representative. The actors received legal assistance from the National Right to Work Foundation, a conservative anti-union group, which celebrated the union’s withdrawal as a victory.
Mark Mix, President of the National Right to Work Foundation, criticized AGVA for treating the Medieval Times castles as personal fiefdoms and praised the workers for standing up against the union. AGVA explained that many of the workers who had initially supported the union had left Medieval Times during contract negotiations, making it challenging for the union to continue its representation. The union expressed regret that it had to pull out but cited circumstances beyond their control for the decision.
The collapse of the union effort at Medieval Times comes after a wave of organizing efforts in recent years at workplaces not traditionally represented by unions. Workers at the Buena Park castle had been engaged in a nine-month strike last year and faced intimidation and retaliation from managers, leading many to leave the company and diminish support for the union.
Erin Zapcic, a queen performer at the Buena Park castle and a union steward, highlighted unlawful practices by Medieval Times, such as switching workers’ shifts and assigning them grueling tasks like shoveling horse manure. She lamented the loss of support for the union and the challenges faced by workers seeking better working conditions and wages.
The collapse of the union at Medieval Times is a significant blow to the workers who had been fighting for their rights and a voice in the workplace. Despite their efforts to unionize and improve working conditions, the withdrawal of AGVA’s support signals the end of the labor movement at the popular themed dinner theater.
The saga at Medieval Times underscores the challenges faced by workers in industries where union representation is not common. The workers who had bravely stood up for their rights and faced backlash from management now find themselves without the support they had hoped for. The future remains uncertain for the workers at Medieval Times as they navigate a landscape without union backing.
Overall, the collapse of the labor efforts at Medieval Times serves as a cautionary tale for workers seeking to organize and advocate for better working conditions. Despite the setbacks and challenges faced, the workers at Medieval Times have shown resilience and determination in their fight for fair treatment and representation.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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