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Bumble Bee Foods began in 1899 as Columbia River Packers Association, a coalition of salmon canners in Astoria, Oregon. The Bumble Bee brand was introduced in 1910. The company went bankrupt in 1997 – and now, amid lawsuits and antitrust fines, is bankrupt again.
Troubled tuna seller Bumble Bee files for bankruptcy
https://www.cnn.com/2019/11/22/busin...tcy/index.html
It's official: The Paris-based parent company of Givenchy, Dom Pérignon, Christian Dior and Louis Vuitton is buying luxury jeweler and specialty retailer Tiffany. Shares of Tiffany rose more than 6% today.
LVMH acquires Tiffany for $16.2 billion
https://www.cnn.com/2019/11/25/inves...ion/index.html
Jack Parker opened the first A.C. Moore store in 1985 in Moorestown, New Jersey. The name stood for "Arts & Crafts, Moorestown." There are now 145 A.C. Moore stores in the eastern United States – and the entire chain is going out of business, throwing 5,000 people out of work. More than 9,200 retail store closures have been announced so far this year. That's 55% more than in 2018.
A.C. Moore closing all stores; up to 40 will become Michaels
https://www.usatoday.com/story/money...ls/4303313002/
Stanford Business School students Eric Baker and Jeff Fluhr founded StubHub in 2000. EBay bought the company for $310 million in 2007 and has now made a profit of $3,640,000,000 by selling the company to Viagogo, an online ticket selling business founded in 2006 by Eric Baker. Yes, that Eric Baker.
EBay sells ticket selling giant StubHub to Viagogo for $4.05 billion in cash
https://www.yahoo.com/entertainment/...152240273.html
Racism, harassment, intimidation, sexual misconduct, secret deals with the military, working with border agents to detain migrants, not doing enough to combat climate change.....and no, we're not talking about the Trump administration. This time we're talking about Google. Employees are close to staging a revolt.
Tensions between Google and its employees are reaching a breaking point
https://www.cnn.com/2019/11/26/tech/...ons/index.html
Cellphone screens, same as television screens, are always measured diagonally instead of by height and width. The reason? The diagonal measurement is a larger number. Phone manufacturers know 5.8 sounds more impressive than 3 x 5. It's the same reason McDonald's calls their four-ounce hamburgers Quarter Pounders. It sounds more impressive.
Apple planning to release biggest iPhone ever in 2020
https://nypost.com/2019/11/27/apple-...n-2020-report/
This story comes from the "What were they thinking?" department. And Amazon, may I be the first to wish you a Fröhliche Wiehnachten.
Amazon pulls Christmas ornaments showing Auschwitz concentration camp
https://www.cnn.com/2019/12/02/tech/...ntl/index.html
Amazon does not release sales figures but the company announced today that yesterday's so-called "Cyber Monday" was the biggest shopping day in its history, based on the number of items sold. Amazon shares have risen by 14% this year and right now are at $1769.96.
Cyber Monday online sales hit record $9.4 billion
https://www.cnbc.com/2019/12/03/cybe...dobe-says.html
"You deserve a break today.....but you don't deserve the same salary white people get." McDonald's public relations department is not going to have an easy time defending the company on this issue.
McDonald's black franchisees are fighting to earn as much as their white counterparts as dozens leave the company they once considered family
https://www.businessinsider.com/mcdo...rparts-2019-11
Celadon, founded in 1985 in Indianapolis, was one of the nation's largest long-haul trucking companies. Celadon and 25 affiliates have filed for bankruptcy and are shutting down. More than 640 trucking companies filed for bankruptcy in the first half of 2019. Vain, pompous, narcissistic, egotistical Emperor Trump takes sole credit when new jobs are created – so it's only fair that we give him credit for all the many thousands of job losses.
Celadon bankruptcy leaves more than 3,000 truck drivers stranded and jobless
https://www.cbsnews.com/news/celadon...-and-stranded/
Gerard Williams is one of three former Apple engineers who started Nuvia, a manufacturer of silicon chips for data center processors. Apple does not like competition. Apple is suing. Apple shares closed today at $268.48, a gain of 1.56.
Apple is suing its former lead chip designer after he quit to set up his own chip company
https://www.businessinsider.com/appl...-giant-2019-12
Oh boy! All I have to do is set aside $1,000 every week and I'll be able to get a fully loaded Mac Pro in December of 2020. I can't imagine Apple will be able to sell very many of these.
Apple's new Mac Pro could cost more than $52,000
https://www.cnn.com/2019/12/09/tech/...rnd/index.html
Funny thing – Trump hasn't said anything about this on Twitter. He takes sole credit when employment is up but never takes the blame when the jobless rate rises. I wonder why.
Jobless claims suddenly jumped to a two-year high
https://www.cnn.com/2019/12/12/econo...ims/index.html
Saudi Arabian Oil Company, more commonly known as Saudi Aramco, raised $25.6 billion in an IPO yesterday. Two billion dollars of that came from the Saudi government. Crown Prince Mohammed bin Salman wanted the company's valuation to reach $2 trillion. Today it did, but only briefly. It closed a little below $2 trillion. Saudi Aramco trades on the Tadawul stock exchange under the symbol ARMCO.
The world has its first $2 trillion company – but for how long?
https://www.cnn.com/2019/12/12/inves...ion/index.html
Coffee mixed with cola. Or is it cola mixed with coffee? Either way, it sounds disgusting.
PepsiCo to debut Pepsi Café, a coffee-cola drink, next year
https://www.cnbc.com/2019/12/12/peps...next-year.html
Shoes made from castor beans and eucalyptus leaves. Are we supposed to wear them.....or eat them?
Vegan athletic shoes set to be next sustainable plant-based craze in 2020
https://www.cnn.com/2019/12/14/busin...gan/index.html
Bed Bath & Beyond has been busy bidding bye-bye to a bevy of bosses.
Bed Bath & Beyond's new CEO just laid off nearly his entire C-Suite
CNN Business, Dec 17 2019 11:57 AM
It took new Bed Bath & Beyond CEO Mark Tritton less than two months to clear out nearly the chain's entire executive suite. The company announced today that six members of its C-Suite are leaving, including its chief merchandising officer, chief marketing officer and chief digital officer. Three of the six had been with Bed Bath & Beyond for more than 20 years. Bringing in "fresh perspectives from new, innovative leaders of change" will help Bed Bath & Beyond adapt to consumers' shopping needs, Tritton said in a statement.
https://www.cnn.com/2019/12/17/busin...ton/index.html
Rite Aid is the United States' third largest drugstore chain behind CVS and Walgreens. Rite Aid trades on the NYSE under the symbol RAD.
Rite Aid skyrockets 50% on blockbuster earnings, biggest jump in 10 years
https://markets.businessinsider.com/...-12-1028777271
America's steel industry has been hard hit by Trump's 25% tariffs. Those are the tariffs he said would be paid for by China, not by Americans. He was lying, of course. A White House spokesman who is obviously a Trump lapdog blames this steel mill closure not on the tariffs but on "problems" at US Steel. Oh, okay.
US Steel is closing a Detroit-area steel mill and laying off 1,500 workers
https://www.cnn.com/2019/12/20/busin...ing/index.html
Every December, Mad magazine publishes an issue detailing the year's "20 dumbest people, events and things." This year's number one is "Boeing's Max stupidity": attaching "new engines to old planes," resulting in the crashes of two 737 MAX planes and the deaths of 346 people. In a phone call to President Trump in March, Boeing's CEO insisted the planes are safe and asked that they not be grounded. Nobody believed him. The FAA ordered the planes grounded. Today, the CEO resigned. You don't mess with Mad and the FAA!
Boeing CEO Dennis Muilenburg is out as 737 MAX crisis lingers
https://www.latimes.com/business/sto...enburg-resigns