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The first California Pizza Kitchen opened in 1985 in Beverly Hills. The chain now operates more than 250 restaurants in the United States, Mexico, Hong Kong, Japan, India, Sinagpore, South Korea, the Philippines and United Arab Emirates.
California Pizza Kitchen files for bankruptcy
https://www.cnn.com/2020/07/30/busin...tcy/index.html
Amazon earned $5.2 billion in the second quarter of 2020. Amazon shares closed today at 3,051.88, a gain of 18.35 (+0.60%), and rose after hours to 3,215.00, a gain of 163.12 (5.34%). Jeff Bezos founded Amazon in 1994 in Seattle. Today, Forbes estimates his net worth as $181 billion.
Amazon posts biggest profit ever at height of pandemic in US
Amazon.com today posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.
https://www.reuters.com/article/us-a...-idUSKCN24V3HL
In 1826, Samuel Lord opened a ladies' clothing store in Manhattan. In 1834, his wife's cousin George Taylor became a partner. Lord & Taylor now has 38 stores and is the nation's oldest department store chain. It's also the latest chain to file for Chapter 11 bankruptcy protection.
Lord & Taylor files for bankruptcy protection
https://www.cnn.com/2020/08/02/busin...tcy/index.html
Next!
Virgin Atlantic files for bankruptcy in the US
https://www.cnn.com/2020/08/04/busin...tcy/index.html
Men's Wearhouse, Jos. A. Banks parent Tailored Brands files for bankruptcy
https://www.marketwatch.com/story/me...ort-2020-08-02
In 2018-19, Donald Trump imposed billions of dollars of tariffs on imported steel, aluminum, solar panels, washing machines and other goods. He insisted the tariffs would benefit the United States. They didn't. Americans wound up paying for them – and Canada, China, India and other countries retaliated by imposing tariffs on American-made goods. Yesterday, Trump announced a new 10% tariff on aluminum from Canada. Once again, Americans will wind up paying – and once again Canada is retaliating.
Canada to retaliate dollar for dollar after US announces 10% tariff on aluminum
Canada to impose $3.6 billion in tariffs as Deputy PM Chrystia Freeland says, 'Any American who buys a can of beer will suffer'
https://www.theguardian.com/world/20...ariff-aluminum
Please don't think these are price hikes. Oh, no no no. These are "surcharges." They're not the same as a price hike. Oh, wait.......yes, they are.
FedEx, UPS and the Post Office are all tacking on new fees ahead of an especially busy holiday season
https://www.businessinsider.com/fede...-season-2020-8
The nation's oldest department store chain is now the latest chain to go out of business.
Lord & Taylor is closing all of its stores after 194 years in business
https://www.cnn.com/2020/08/27/busin...tcy/index.html
Coca-Cola's sales fell 28% in the last quarter.
Coke will offer buyouts to 4,000 workers in the US and Canada
https://www.cnn.com/2020/08/28/busin...ing/index.html
MGM Resorts International owns seven hotel-casinos on the Las Vegas Strip plus resorts in Detroit, Maryland, Massachusetts, Mississippi, New York and New Jersey. Amid the COVID-19 pandemic, people are not willing to gamble with their health – and they're also not gambling with their money. MGM is laying off more than 25% of its workforce.
MGM Resorts to lay off 18,000 amid slow comeback for casinos
https://www.latimes.com/business/sto...00-coronavirus
Who are Walmart and Amazon fooling? If you have to pay an annual fee to get free shipping, the shipping isn't really free. Doy!
Walmart unveils $98-a-year subscription service
CNN, Sep 1 2020 10:47 AM ET
Walmart today unveiled a subscription service that will go toe-to-toe with Amazon Prime. The $98-a-year Walmart+ membership plan includes free shipping on items $35 and over, including same-day deliveries on certain items from stores, such as groceries. Members will also get 5-cent-per-gallon discounts on gasoline and the ability to scan items with the Walmart app while they shop in physical stores (and pay without waiting in a checkout line). Although Walmart+ undercuts Amazon Prime by $21 a year, it lacks many of its rival's benefits. For example, Prime requires no minimum purchase to qualify for free shipping and it includes a number of other perks, such as free streaming of music, TV shows and movies and unlimited photo storage. Walmart said it will add more features to its membership plan over time.
https://www.cnn.com/2020/09/01/busin...lus/index.html
Uncle Ben, that horrible racist, is no longer an uncle. His rice is still white, though.
Mars drops Uncle Ben's, reveals new name for rice brand
https://www.aol.com/article/finance/...rand/24627788/
Google TV will show content from Netflix and Disney+ but what is the point? We can just watch Netflix and Disney+.
Google launches Google TV, new Chromecast
https://www.reuters.com/article/us-a...-idUSKBN26L3G7
Donald Trump loves to brag – and take sole credit – when hundreds of thousands of jobs are created.....but he never says a word about the many millions of jobs that have been lost.
Trump has the worst job losses on record heading into the election
CNN Business, Oct 2 2020 12:48 PM ET
The economy added 661,000 jobs in September, the Bureau of Labor Statistics said Friday. The unemployment rate stood at 7.9%. This is the highest the unemployment rate has been ahead of a Presidential election since the government started tracking the monthly rate in 1948. The pandemic has ravaged America's previously strong job market and more than 22 million jobs vanished in the spring lockdown. If President Donald Trump loses the election, he could become the first President on record – going back to President Harry Truman– to leave the White House with fewer jobs than when he started.
https://www.cnn.com/2020/10/02/econo...ion/index.html
The Ruby Tuesday restaurant chain – yes, it was named after the Rolling Stones' 1967 number-one hit – was founded in 1972. Four years ago, there were 724 Ruby Tuesdays worldwide. There are now fewer than 300.
Ruby Tuesday declares bankruptcy after COVID-19 closures
https://www.cbsnews.com/news/ruby-tu...cy-chapter-11/
McAfee, the world's largest technology security company, was founded in 1987 in Santa Clara, California by computer programmer John McAfee. He resigned from the company in 1994.
McAfee looks to raise up to $814 million in IPO
Reuters, Oct 13 2020 9:40 AM
Cyber security firm McAfee Corp said today it is looking to raise up to $814 million in its initial public offering. The company, which was carved out of Intel Corp four years ago, will sell nearly 31 million shares, while the selling stockholders will offer about 6 million shares in the IPO. It is targeting a price range of $19-$22 per share, with the top end of the range valuing the firm at $9.5 billion.
https://www.reuters.com/article/us-m...-idUSKBN26Y2J7
In 1958, Royal Crown introduced Diet-Rite Cola, the first sugar-free soft drink. Five years later, Coca-Cola introduced their own diet cola, Tab. Both were sweetened with cyclamate and saccharin. The FDA banned cyclamate in 1969.
Coca-Cola is discontinuing Tab after 57 years
https://www.cnn.com/2020/10/16/busin...ola/index.html
Purdue Pharma was founded in Manhattan in 1892 by physicians John Purdue Gray and George Frederick Bingham as the Purdue Frederick Company. It has no connection to Purdue University – which, unlike Purdue Pharma, is not shutting down.
OxyContin maker to plead guilty to federal criminal
charges, pay $8 billion, and will close the company
https://www.cnn.com/2020/10/21/busin...lea/index.html
Can we say another stream has dried up?
Streaming service Quibi to wind down operations six months after launch
https://www.reuters.com/article/us-q...-idUSKBN27635W
The Panera Bread Company began in 1987 with the St. Louis Bread Company in Kirkwood, Missouri. In 1997, the chain became Panera after the Spanish word for "breadbasket." There are more than 2,000 Paneras in the US and Canada – and now they'll be selling pizza.
Panera Bread adds pizza to its menu to double down on dinner
https://www.cnn.com/2020/10/28/busin...rnd/index.html
In the three months ending September 30, Amazon's profit was $6.3 billion, a 197% increase over the third quarter of 2019. Time to give Jeff Bezos another raise!
Amazon had a blowout quarter as people flocked to online shopping
https://www.cnn.com/2020/10/29/busin...ngs/index.html