Tag Archives: business

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

The Washington Post reports: Howard Schultz, who built the coffee chain into a global giant, is leaving the company, where he previously served as chief executive. He has been an outspoken leader on civic issues, and this move has reignited speculation that he might plan a run for political office. Starbucks recently has been embroiled in controversy over the arrest …

Bloomberg reports: Walmart Inc. will fund college degrees for its U.S. workforce, the latest benefit rolled out by the nation’s largest private employer to reduce turnover and counter criticism over its treatment of staff. The retailer’s 1.5 million employees can now pursue associate’s or bachelor’s degrees in business or supply-chain management at three nonprofit schools for $1 a day, according …

USA Today reports: Starbucks will attempt a dramatic move toward racial reconciliation Tuesday as it closes 8,000 stores across the nation for an afternoon of anti-bias training. Up to 180,000 employees at Starbucks stores and at its headquarters will receive training from a “tool kit” that will “focus on understanding prejudice and the history of public accommodations in the United …

Publix can’t catch a break lately: A Christian homeschool grad was “humiliated” when a cake for his big day turned up with the phrase “Summa — Laude Class of 2018” thanks to a computer system that deemed “cum” a vulgar word. Cara Koscinski didn’t think twice after placing the online order for the $70 cake from her local Publix supermarket. …

The Associated Press reports: U.S. prosecutors filed a criminal charge Wednesday against the CEO of Bumble Bee Foods as part of an ongoing investigation into price fixing in the packaged seafood industry. A grand jury in San Francisco indicted Christopher Lischewski on one count of price fixing, alleging that from November 2010 to December 2013 he conspired with others in …

CNBC reports: There are now more billionaires in the world than ever before: 2,754. That’s according to The Wealth-X Billionaire Census 2018, which finds that “the billionaire population and their wealth soared to record levels in 2017.” The United States accounts for 25 percent of the global billionaire population, Wealth-X finds though it’s home to just over 4 percent of …