Tag Archives: business

Luxury Chain Henri Bendel To Close All Stores [VIDEO]

Fortune Magazine reports: After 123 years in business, department store Henri Bendel is closing up shop for good after the holiday season. Known for its brown-and-white-striped bags, Henri Bendel was founded in 1895 by its namesake, a designer from Louisiana. When L Brands acquired Henri Bendel in 1985, it was by far the most luxury holding in its portfolio of ...

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Buy At The Bottom, Sell At The Top: Grindr Goes Public

The South China Morning Post reports: Grindr, the gay dating app owned by Chinese gaming company Kunlun Group, has received approval from its parent’s executive board for an overseas public listing. The timing of the listing is dependent on conditions in the international capital market and progress of approval from domestic and overseas regulators, Kunlun said in a public filing ...

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Amazon To Launch Free Ad-Supported Video Service

Ad Week reports: Amazon.com has an ad-supported TV service in the works that would be free to those who use the company’s Fire TV streaming devices. The service is reportedly being developed by the Internet Movie Database (IMDb), which Amazon acquired in 1998. It will be called “Free Dive.” Sources told us that Amazon is talking with major TV studios ...

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Sears To Shutter Dozens More Stores In November

Bloomberg reports: Sears Holdings Corp. continues to clean house, announcing plans to shutter an additional 46 unprofitable stores in November. The struggling chain informed workers at the impacted stores this week, and liquidation sales will begin as early as Aug. 30. The move is “part of our ongoing efforts to streamline Sears Holdings’ operations, strengthen our capital position and focus ...

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PETA Prompts Animal Crackers Box Redesign [VIDEO]

The Associated Press reports: After more than a century behind bars, the beasts on boxes of animal crackers are roaming free. Mondelez International, the parent company of Nabisco, has redesigned the packaging of its Barnum’s Animals crackers in response to pressure from PETA, which has been protesting the use of animals in circuses for more than 30 years. Mondelez agreed ...

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Bikers To Boycott Harley-Davidson Because Trump

The New York Times reports: Gary Rathbun rumbled into South Dakota to attend the United States’ pre-eminent gathering of motorcycle enthusiasts atop his Harley-Davidson, a 2009 Ultra Classic that brought him 800 miles from Idaho. It is the 40th Harley he has owned. It will also likely be his last. Like many of Harley’s most loyal customers, Mr. Rathbun was ...

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Brookstone To Shutter All 101 Of Its Mall Stores

The death of physical retail grinds on: Brookstone, the ubiquitous seller of cool but largely unneeded things, has filed for Chapter 11 bankruptcy protection again and will close the 101 of its stores that are located in malls. Malls have suffered for years due to far-reaching shifts in the way that Americans shop for just about everything, which has diminished ...

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CEOs Reap Millions From Trump’s New Tax Law

Politico reports: Some of the biggest winners from President Donald Trump’s new tax law are corporate executives who have reaped gains as their companies buy back a record amount of stock, a practice that rewards shareholders by boosting the value of existing shares. A POLITICO review of data disclosed in SEC filings shows the executives, who often receive most of ...

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Cash-Strapped MoviePass May Be On Its Last Legs

Bay Area News Group reports: Is the end near for MoviePass, the popular subscription movie-going service with more than 3 million subscribers? MoviePass experienced “technical difficulties” that prevented many subscribers from using the service Thursday, with its Twitter account saying it was related to its “card-based check-in process.” But the real reason for the technical difficulties? MoviePass ran out of ...

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Papa John’s Founder Sues Papa John’s After Ouster

Reuters reports: John Schnatter, the founder and ousted former chairman of Papa John’s International Inc, on Thursday sued the pizzeria chain, complaining that the company had not provided adequate response to an earlier request for internal documents. The complaint, Schnatter v. Papa Johns International Inc filed in Delaware Chancery Court, comes after a request by Schnatter and his attorneys access ...

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Top Health Care CEOs Together Earned $1.7B In 2017

Axios reports: The 64 health care CEOs in the S&P 500 cumulatively made almost $1.7 billion in 2017, according to a new Axios analysis of their compensation. That total is 74% higher than the $949 million that is normally highlighted in company proxy documents. Within the compensation totals, Axios’ Bob Herman calculated the actual realized gains of CEOs’ stock options ...

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Mike Pence’s Hometown Hit Hard By Trump’s Tariffs

The Washington Post reports: According to the Brookings Institution, the Columbus, Indiana area is the most export-reliant region in the country, with just over half of its economic output linked to foreign purchases. “I’m very worried,” said Tom Linebarger, the chief executive of Cummins, who met with President Trump over dinner at the White House in January in a bid ...

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Elon Musk Calls Cave Rescue Hero “Pedo Guy” For Telling Him To “Stick Your Submarine Where It Hurts”

The Independent reports: Elon Musk has called a British diver who helped rescue schoolboys from a flooded cave in Thailand ‘pedo guy’ on Twitter. The entrepreneur’s outburst came after diver Vern Unsworth told Mr Musk to “stick his submarine where it hurts” after describing his offer to help with a miniature submersible as a “PR stunt”. Mr Musk travelled to ...

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China: Trump Has Started Biggest Trade War In History

CNN reports: China on Friday accused the United States of starting “the biggest trade war in economic history” as the two sides imposed steep new tariffs on tens of billions of dollars of each other’s exports. The Trump administration’s 25% tariffs affect more than 800 Chinese products worth $34 billion such as industrial machinery, medical devices and auto parts. They ...

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Barnes & Noble Abruptly Fires CEO, Won’t Say Why

MarketWatch reports: Barnes & Noble Inc. has fired Chief Executive Demos Parneros, citing company policy violations. The bookseller said Tuesday that Parneros won’t receive any severance pay and that he is no longer a board member. Barnes & Noble didn’t disclose what rules Parneros may have violated, but said the decision wasn’t tied to any disagreement over financial reporting or ...

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Intel CEO Resigns Over Affair With Employee

CNBC reports: Intel’s Brian Krzanich is out as CEO and chairman of the board following an investigation into a “consensual relationship with an Intel employee,” the company announced Thursday. Chief financial officer Robert Swan will step in as interim CEO, effective immediately. “An ongoing investigation by internal and external counsel has confirmed a violation of Intel’s non-fraternization policy, which applies ...

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Trump Approves Tariffs On $50B In Chinese Goods

Bloomberg reports: President Donald Trump has approved tariffs on Chinese goods worth about $50 billion, said a person familiar with the decision, ratcheting up a confrontation on trade with Beijing and triggering losses in the domestic stock market. The Trump administration is preparing to release a refined list of the first batch of Chinese products to be hit with tariffs ...

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INDIANA: CrossFit Executive Fired After Gym Cancels LGBT Pride-Themed Workout For “Celebrating Sin”

Indianapolis’ ABC affiliate reports: An Indianapolis CrossFit gym has closed its doors after intense backlash over a canceled pride-themed workout. A note left on the door by the management of CrossFit Infiltrate, located on W. 9th Street along the Indy Canal, says they will “no longer operate” at the current location. Several workers and members have left the gym after ...

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AT&T Makes $1M Pride Month Gift To Trevor Project

Via press release from AT&T: As we kick-off Pride Month, AT&T is proud to announce a $1 million donation and a multi-year partnership with The Trevor Project, the leading national organization providing crisis intervention and suicide prevention services to LGBTQ youth. Suicide is the second leading cause of death for youth aged 10 – 24, and LGBTQ youth are almost ...

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Fashion Designer Kate Spade Dead At 55 In Suicide

The New York Daily News reports: Kate Spade, a world famous clothing designer, was found dead Tuesday in her Upper East Side home. A housekeeper found the 55-year-old designer in her home on Park Ave. near E. 77th St. at about 10:20 a.m. Spade had hung herself, police sources said. Kate Spade New York has more than 140 retail shops ...

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