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Thread: Business news 2019

  1. #141
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    Dunkin' Donuts shortened its name to Dunkin'. Now Jamba Juice is shortening its name to Jamba. They're unknowingly following the advice given by Henry David Thoreau in Walden: "Simplify!"

    Jamba Juice is dropping 'juice' from its name

    https://www.cnn.com/2019/06/06/busin...and/index.html

  2. #142
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    Elliott Management owns Waterstones Booksellers, which was founded in 1982 and now has 283 stores in the UK, Ireland, Belgium and the Netherlands. Waterstones is profitable, although not by much. Waterstones CEO James Daunt will also head Barnes & Noble. Can he make the chain profitable? It will be a, um, daunting task.

    Barnes & Noble sold to hedge fund Elliott Management for $476 million

    https://www.cbsnews.com/news/barnes-...tt-management/

  3. #143
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    FedEx Express will no longer make domestic deliveries of Amazon parcels. Those deliveries accounted for only 1.3% of FedEx's revenue. And starting in January 2020, FedEx Ground will make deliveries seven days a week, year-round – something Amazon already does. The rivalry is intensifying.

    FedEx opts out of Express service contract with Amazon to focus on broader e-commerce market

    https://www.marketwatch.com/story/fe...ket-2019-06-07

  4. #144
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    Walmart's in-home grocery delivery service will launch in Pittsburgh, Vero Beach and Kansas City, Missouri. Order groceries online and an employee will put them in your refrigerator when you're not home. He'll be wearing a camera so you can watch from another location. Yeah, what could possibly go wrong? "Hey, is that a gold necklace and a Rolex watch? I'll just turn off the camera for a few seconds....."

    Walmart set to deliver groceries into your home

    http://fortune.com/2019/06/07/walmart-grocery-delivery/

  5. #145
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    Last week in its first quarterly report, Uber reported a loss of $1,010,000,000. That's a lot of zeros. Uber closed yesterday at 44.16 and fell to 43.71 after hours. Its IPO price was $45.

    Uber's COO and CMO are leaving one month after disappointing IPO

    https://www.cnn.com/2019/06/07/tech/...out/index.html

  6. #146
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    Doesn't every big merger "hurt competition and raise prices"? The only people who wouldn't be hurt by a Sprint-T-Mobile merger are the robocallers. For them, it will just be business as usual.

    Ten states sue to block T-Mobile merger with Sprint
    They believe the union would hurt competition and raise prices.

    https://www.engadget.com/2019/06/11/...print-merger/c

  7. #147
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    No new launch date for the Fold has been announced. That is discouraging news for all the people who were planning to pay $2,000 (plus tax) for what is essentially an updated version of a 1996 Motorola StarTAC.

    AT&T follows Samsung and Best Buy in canceling pre-orders for Galaxy Fold phone

    https://www.cnbc.com/2019/06/13/sams...ed-at-att.html

  8. #148
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    Maybe someday Target, Walmart and Amazon will emulate Domino's Pizza and announce a new policy: Online orders will be free of charge if they're not delivered in 30 minutes or less.

    Target is doubling down on same-day delivery as Walmart and Amazon spar over one-day delivery

    https://www.businessinsider.com/targ...website-2019-6

  9. #149
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    Chewy.com, an online seller of pet supplies, launched in 2011 and in April 2017 was purchased by PetSmart for $3.35 billion. Yesterday in the first hour of trading, Chewy shares rose 88% above the $22 offer price. They closed at $34.99, a gain of 59%. On the NYSE: CHWY. PetSmart is PETM. Woof!

    Chewy raises $1.02 billion in IPO and stock soars in trading debut

    https://www.latimes.com/business/la-...614-story.html

  10. #150
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    "How dare you talk to me this way! I give good pay and good benefits to all my slaves! Er, uh, sorry, I meant to say 'workers.'"

    Amazon publicly condemns Alexandria Ocasio-Cortez for slamming Bezos' wealth
    Business Insider, Jun 17 2019

    Amazon blasted Rep. Alexandria Ocasio-Cortez today after the Democratic Congresswoman accused the company of paying its workers "starvation wages" and said CEO Jeff Bezos became a billionaire in part by underpaying "every single" one of his employees.

    "AOC is just wrong," Amazon tweeted today from its @AmazonNews Twitter account. "Amazon is a leader on pay at $15 min wage + full benefits from day one. We also lobby to raise federal min wage."

    It's relatively rare for Amazon to publicly condemn a politician on Twitter. The tweet included a video of Ocasio-Cortez's remarks attacking Amazon, which she delivered during a Sunday appearance on ABC's This Week. In discussing how Bezos attained his wealth, Ocasio-Cortez said, "If his being a billionaire is predicated on paying people starvation wages and stripping them of their ability to access health care and on the fact that his workers take food stamps, so I'm paying for him to be a billionaire, I think it's certainly a part of the equation. When you have a very large workforce and you underpay every single person and then you also participate in taking billions of dollars of government subsidies, that could be part of it."

    Ocasio-Cortez said Amazon and Bezos should pay more in taxes, give up all government subsidies, send people to college tuition-free and guarantee health care to all workers.

    https://www.businessinsider.com/amaz...attacks-2019-6

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