Must Read Money Stories For Wednesday, Oct. 7

by October 7, 2015

MRMSUAW strike threat. The United Auto Workers union set an 11:59 pm ET strike deadline tonight at Fiat Chrysler Automotive. Last week, UAW members rejected a tentative agreement with Fiat Chrysler, upset for a variety of reasons including a lack of commitment by the carmaker on future products. If no deal is reached by the deadline, 39,000 UAW represented workers could walk off the job.

Peets buys Stumptown. Peet’s Coffee & Tea has snapped up another well-known independent brand. It plans to purchase fellow West Coast coffee brand Stumptown, according to Eater. Stumptown, based in Portland, Oregon, has been controlled by a private equity firm since 2011. It isn’t clear whether it will allow Stumptown to operate independently.

McDonald’s ribbed over breakfast. On Tuesday, McDonald’s made some of its breakfast menu available all day across the country, and a slew of brands had some fun with the move on Twitter. Denny’s posted, “Imitation is the sincerest form of flattery” while IHOP tweeted, “#AllDayBreakfast – what’s good?” Meanwhile, 7-Eleven tweaked the Golden Arches with, “We love the idea of #alldaybreakfast. It may even have been ours.”

Pumpkin prospects only okay. About 90 percent of the pumpkins grown in the United States come from the Peoria, Illinois, area. And, it looks like this year’s crop will be just okay, according to the Associated Press. There should be enough pumpkins for Halloween, but the portion of the crop that goes for canned pumpkin may start running out by Thanksgiving. Blame the pumpkin spice latte craze for some of the demand.

Wi-fi hotspots in Cuba. Wi-fi is slowly coming to Cuba, but the service is spotty and expensive, reports NPR. An access card sold by the state phone company, ETECSA, costs about $2 for an hour of Internet use, while the average state salary in Cuba is about $20 a month. Only about 5 percent of Cubans are able to get online, one of the lowest penetration rates in the world.