SIRI - Wall Street Breakfast: Employees Or Contractors?

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Employees or contractors?Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) must classify their drivers in California as employees, according to a state appeals court ruling that threatens to upend their business models. The order makes the two even more dependent on Proposition 22, a ballot initiative set for Nov. 3 that would supersede any court rulings. It has so far raised more than $189M from the companies, along with DoorDash (DOORD), Postmates (POSTM) and Instacart (ICART), making it the most expensive proposition in California's history. Should it pass, the companies say they will guarantee new protections to workers, but should it fail, they would likely explore other appeals options, like sending the case to the California Supreme Court. Stimulus deal remains elusive It's been quite a choppy trading week

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Wall Street Breakfast: Employees Or Contractors?