Business

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 …

Read More »

Trump To Dine Tonight With Apple CEO Tim Cook

The Hill reports: President Trump will dine with Apple CEO Tim Cook on Friday, praising the tech leader in a tweet for making investments in the U.S. Trump announced late Friday that he would meet with the CEO, a dinner conversation that will take place just days after the president met with a number of business leaders representing various industries …

Read More »

New York City Braces For 15-Month L Train Shutdown

The New York Post reports: It appears that the Williamsburg exodus has begun — with apartment inventory shooting up by 25 percent and rent slipping back down to 2015 prices — thanks to the L-train shutdown. Local hipsters are apparently heading for the hills as the final day of service fast approaches. “The shutdown is eight months away, which means …

Read More »

Tribune Breaks Off $3.9B Sinclair Merger, Sues Sinclair

CBS News reports: Tribune Media is withdrawing from its $3.9 billion buyout by Sinclair and it’s filing a lawsuit against it, citing breach of contract. Tribune Media would be on the hook for a $135 million breakup fee, according to the agreement reached last year. Sinclair Broadcast Group had offered to buy the Chicago company’s 42 TV stations and had …

Read More »

SOUTH CAROLINA: Tariffs To Shutter Television Plant

CNBC reports: A South Carolina television maker says it’s laying off 126 workers because of President Donald Trump’s tariffs on imports from China. Element TV Company said in a letter to state employment officials Monday that workers will be let go Oct. 5, leaving a skeleton crew of eight employees to watch the Fairfield County plant in hopes it can …

Read More »

CDC Report: Hundreds Ill From Parasite In McD Salads

USA Today reports: Some 395 people have become sick from eating tainted McDonald’s salads, according to an updated count Friday afternoon from the Centers for Disease Control and Prevention. The illnesses have been linked to salad mix contaminated with the Cyclospora parasite, which is spread through fecal matter. Sixteen individuals have been hospitalized, according to the CDC. Fifteen states have …

Read More »

Apple Becomes First Public Company Worth $1 Trillion

The New York Times reports: In 1997, Apple was on the ropes. The Silicon Valley pioneer was being decimated by Microsoft and its many partners in the personal-computer market. It had just cut a third of its work force, and it was about 90 days from going broke, Apple’s late co-founder, Steve Jobs, later said. On Thursday, Apple became worth …

Read More »

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 …

Read More »

Papa John’s Founder: They Need Me Back Because My Persona Is The Company’s “Authentic, Genuine” Face

The Associated Press reports: The founder of Papa John’s says the pizza chain needs him back as its public face, and that it was a mistake for the company to scrub him from its marketing materials after he acknowledged using a racial slur last month. John Schnatter said in an interview with The Associated Press that he believes he can …

Read More »

REPORT: Cuba To Get 248-Room LGBT Resort

According to the Mexican news site ContraMuro.com and Forbes Mexico, a 248-room LGBT resort featuring five bars and three restaurants will open next year on or near (this is unclear) Cuba’s resort island Cayo Guillermo. The “luxurious five-star” hotel is reportedly the project of MGM Mutha Hotels, which currently operates about two dozen resorts in Europe and India, and already …

Read More »

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 …

Read More »

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 …

Read More »

New York Orders Spectrum Cable To Cease Operations

USA Today reports: New York’s utility regulators moved Friday to revoke Charter Communication’s ability to operate in the state, arguing that the state’s top cable provider hasn’t lived up to the terms of its 2016 merger with Time Warner Cable. The Public Service Commission gave Charter 60 days submit a plan to hand over its New York operations to a …

Read More »

New York City Seeks To Rein In Ride-Hailing Services

The New York Times reports: New York City officials are moving to cap the number of vehicles driving for Uber and other ride-hailing services as part of an aggressive move to address mounting concerns that their explosive growth has led to worsening congestion and low driver wages. The legislation being considered by the City Council would make New York the …

Read More »

Facebook Loses $120 Billion In Value, Largest One-Day Loss For Any Company In US Stock Market History

CBS News reports: Facebook lost about $120 billion of its value on Thursday, marking the biggest one-day loss in U.S. market history. The company’s shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. The slide is the largest decline market capitalization in history, exceeding Intel’s $91 billion single-day loss in …

Read More »

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 …

Read More »

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 …

Read More »

Agriculture Sec. Sonny Perdue Unveils $12B Bailout Of US Farmers Due To China’s “Illegal Retaliatory Tariffs”

The Hill reports: The Department of Agriculture (USDA) on Tuesday announced it would offer $12 billion in aid to farmers hindered by retaliatory tariffs imposed on U.S. grain, produce and meat exports as the Trump administration digs in for a protracted trade battle. The department will use the emergency aid to assist and buy crops from farmers who’ve lost billions …

Read More »

Trump Plans $12 Billion Bailout To Farmers Because Of Tariffs Imposed On Their Goods By His Own Trade War

CNBC reports: The Trump administration plans to offer billions of dollars in aid to farmers hit by tariffs on their goods, an emergency bailout intended to ease the pain caused by Trump’s escalating trade war in key electoral states, people briefed on the plan told CNBC. The total aid amount is reportedly about $12 billion. A senior administration official told …

Read More »

New York City Council Moves To Rein In Airbnb Hosts

Bloomberg reports: Last week, Airbnb Inc. was dealt one of its biggest blows in the company’s 10-year history. New York City council members voted to require the home-rental company to hand over the names and addresses of its hosts in the city. The officials have said they need the information to police Airbnb hosts that operate illegally and drive up …

Read More »