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Thread: Business news 2020

  1. #91
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    Both companies are blaming the COVID-19 pandemic for their bankruptcies – and both companies gave millions of dollars in bonuses to their top executives prior to filing for bankruptcy. Somethin' ain't right!

    Chuck E. Cheese files for bankruptcy

    https://variety.com/2020/digital/new...cy-1234689869/

    GNC files for bankruptcy, plans to close 1200+ stores

    https://ourcommunitynow.com/news-bus...se-1200-stores

  2. #92
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    Cirque du Soleil, founded in 1984, operated six permanent shows in Las Vegas and several touring shows worldwide. All were suspended when the COVID-19 pandemic hit.

    Cirque du Soleil files for bankruptcy and cuts 3,500 jobs

    https://www.cnn.com/2020/06/29/busin...tcy/index.html

  3. #93
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    Another day, another bankruptcy.

    A huge Wendy's and Pizza Hut franchisee just filed for bankruptcy
    CNN, Jul 1 2020 10:25 AM

    NPC International, the operator of 1,200 Pizza Hut and nearly 400 Wendy's restaurants in the United States, has filed for bankruptcy. The franchisee has been dealing with coronavirus-related shutdowns, a massive debt burden of nearly $1 billion and rising labor and food costs. Pizza Hut, of which NPC is the company's largest franchisee, has also been struggling with sales recently. NPC's restaurants will continue to operate while it navigates the Chapter 11 process. The company employs nearly 40,000 people in 27 US states.

    https://www.cnn.com/2020/07/01/busin...tcy/index.html

  4. #94
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    Odwalla was founded in 1980 in Santa Cruz, California. The company, named after a character in Roscoe Mitchell's poem Illistrum, makes juices, smoothies, soy milk and energy bars – and next month will be out of business.

    Coca-Cola is shutting down Odwalla juice

    https://www.cnn.com/2020/07/01/busin...ola/index.html

  5. #95
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    Postmates was founded in May 2011 in San Francisco and offers home delivery of food, drinks, groceries, healthcare products and other items. If this all-stock deal is approved by regulators, Uber will control 30% of the food delivery market in the United States. DoorDash controls 45%.

    Uber scoops up Postmates for $2.65 billion in 'everyday' delivery push

    https://www.reuters.com/article/us-p...-idUSKBN2471GQ

  6. #96
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    Two more bankruptcy filings – and has anyone noticed Donald Trump no longer brags about our nation's "strong economy"?

    Sur La Table files for bankruptcy, will close dozens of stores

    https://www.cnn.com/2020/07/09/busin...tcy/index.html

    Brooks Brothers, founded in 1818, files for bankruptcy, will close 51 stores

    https://www.nytimes.com/2020/07/08/b...ankruptcy.html

  7. #97
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    Oilman and philanthropist Lloyd Noble founded the the Samedan Oil Corporation in 1932 in Houston. The company was named for his children Sam, Ed and Ann and became Noble Energy in 2002. Noble has reserves of two billion barrels of oil and gas; Chevron has 11.4 billion. In buying Noble, Chevron increases its reserves by 18%.

    Chevron to buy oil and gas producer Noble Energy for $5 billion in stock

    https://www.reuters.com/article/us-n...-idUSKCN24L143

  8. #98
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    QAnon is a far-right conspiracy theory which claims a "deep state" evil cabal of Satan-worshipping pedophiles is seeking to rule the world and plotting to destroy Donald Trump and his supporters. Naturally, Donald Trump and his supporters believe the conspiracy theory. For the past two years, QAnon followers have been showing up at Trump's rallies. These crazy, delusional, right-wing conspiracy theorists certainly do stick together!

    Twitter bans 7,000 QAnon accounts, limits 150,000 others as part of crackdown
    NBC News, Jul 21 2020 8:51 PM

    Twitter has begun taking sweeping actions to limit the reach of QAnon content and banned many of the conspiracy theory's followers due to ongoing problems with harassment and the dissemination of misinformation. Twitter will stop recommending accounts and content related to QAnon, including in email, push, and follow recommendations and will take steps to limit content circulation in places like trends and search. This action will impact approximately 150,000 accounts. The company has also taken down more than 7,000 QAnon accounts for breaking its rules on targeted harassment. The sweeping enforcement action will ban QAnon-related terms from appearing in trending topics and its search feature, ban known QAnon-related URLs and ban "swarming" of victims who are baselessly targeted by coordinated harassment campaigns pushed by its followers.

    QAnon is a baseless right-wing conspiracy theory that centers around the belief that an anonymous tipster is revealing how President Donald Trump is leading a secret war against a so-called Deep State – a collection of political, business and Hollywood elites who worship Satan and abuse and murder children. The conspiracy theory draws its roots from Pizzagate, which claimed Hillary Clinton ran a pedophile ring outside of a Washington DC pizza shop. QAnon emerged from the fringes of the internet's conspiracy community to become a recognized political phenomenon, with Trump supporters showing up at events with "Q" merchandise. QAnon followers have also been implicated in armed standoffs, attempted kidnappings, harassment and murder since the conspiracy first gained traction on the internet in October 2017. Last year, the FBI designated QAnon as a potential domestic terror threat. The FBI's report on QAnon's ties to dangerous real-world activities led in part to Twitter's decision..

    https://www.aol.com/article/news/202...down/24568497/

  9. #99
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    Another day, another bankruptcy. Several Ann Taylor, Lane Bryant, Justice and Loft stores will be closing.

    Ann Taylor parent Ascena files for Chapter 11 bankruptcy

    https://www.cnbc.com/2020/07/23/ann-...ankruptcy.html

  10. #100
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    A majority of the McDonald's that will be closing are located in Walmart stores.

    Dunkin' is closing 800 US locations

    https://www.cnn.com/2020/07/30/busin...res/index.html

    McDonald's to close 200 US restaurants

    https://www.usatoday.com/story/money...gs/5527617002/

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