The business news thread

Fewer employees, more work, less pay -- yeah, that may not be an ideal business model.

McDonald's workers are quitting as mobile-app orders and new offerings create chaos

http://www.latimes.com/business/la-f...313-story.html

What Elon Musk proposed two months ago is on its way to becoming a reality:

Tesla applies for permits to build drive-in restaurant with electric-car charging stations in Santa Monica

http://www.latimes.com/business/auto...313-story.html

Not surprisingly, Bitcoin, Ripple and Ethereum stocks are all down today.

Google to ban cryptocurrency ads in June, following Facebook's lead

http://www.cbsnews.com/news/google-b...facebook-lead/

Amazon's success has driven many book stores out of business. I wonder if Amazon's and Walmart's grocery delivery service will eventually lead to small grocery stores going out of business, too.

Walmart, in fight with rival Amazon, to expand grocery home delivery service to more than 100 metro areas

http://www.msn.com/en-us/money/compa...D=ansmsnnews11

Please resist the temptation to make jokes about this man's last name.

Chipotle's chief marketing officer resigns
Business Insider, Mar 14 2018 2:27 PM

Mark Crumpacker, Chipotle's chief marketing officer, resigned from his position on Tuesday. "Crumpacker is being terminated without cause," the company said in a regulatory filing. Crumpacker, who was once arrested on cocaine charges, was set to receive a $600,000 retention bonus if he stayed at the company until January 5, 2019. His resignation will take effect on Thursday. Chipotle did not give a reason for the departure.

https://www.aol.com/article/finance/...igns/23385841/

Investors, you are hereby warned. Google and Apple may wind up having to pay 2,000,000 euros ($250,000,000) in fines. In addition, European tax loopholes that benefit Google, Apple, Amazon and Facebook will likely be closed.

France to sue Google, Apple over 'abusive' terms in developer contracts

http://www.reuters.com/article/us-ap...-idUSKCN1GQ0SP

iHeart owns 856 radio stations -- and obviously the company is not "too big to fail."

iHeartMedia files for bankruptcy, reaches restructuring agreement in principle
Action paves way for radio giant to shed most of the debt from 2008 buyout; Clear Channel Outdoor billboards not part of Chapter 11.

https://www.marketwatch.com/story/ih...ple-2018-03-15

Toys Я no longer us. I wonder how much of the blame for the chain's demise rests with Amazon.

Toys Я Us closing leaves workers, customers hanging
CBS News, Mar 15 2018

Toys Я Us' closure marks the end of the road for the 70-year-old, 735-store chain retailer. Among the reasons for the company's collapse: mismanagement, crippling debt, e-commerce and changing shopping habits. Roughly 33,000 Toys Я Us workers in the US could ultimately lose their jobs because of the company's liquidation. That would be the most retail industry layoffs since Circuit City shut down in 2009, which cost 34,000 jobs. Toys Я Us is offering salaried and hourly employees the equivalent of 60 days in pay and benefits.

The bankruptcy filing doesn't cover Toys Я Us' international business but it, too, is struggling. The company's UK business announced yesterday that it is closing its doors after failing to find a buyer. About 3,000 people will lose their jobs.

https://www.cbsnews.com/news/toys-r-...omers-hanging/

The FDA, unfortunately, can't ban cigarettes but the FDA is at least trying to make cigarettes less addictive. I will never understand the appeal of igniting paper tubes filled with crumbled dead leaves and then sucking the hot chemical-laden smoke into one's lungs.

FDA moves to lower nicotine levels in cigarettes

http://www.nbcnews.com/health/health...rettes-n856876

California has a super-high income tax, super-high business taxes, super-high capital gains taxes, super-high gasoline taxes and a super-high sales tax (9.5% in Los Angeles; 10.25% in Compton, Long Beach, Santa Monica and several other cities). Today, five California legislators introduced a bill that would cut taxes.......for marijuana sellers. Oh those kooky zany wacky crazy legislators!

California considers temporarily lowering taxes on marijuana to help new legal industry compete with black market

http://www.latimes.com/politics/la-p...315-story.html

I don't understand why so many supermarkets are going out of business. Have millions of people suddenly stopped eating?

Winn-Dixie parent company to file for bankruptcy, close 94 stores

http://www.upi.com/Top_News/US/2018/...1471521152384/

Here is a worthy-of-consideration recommendation from TheStreet.com financial blogger Bret Kenwell:

Time to sell Netflix and buy Disney stock instead?
Disney has more upside potential than Netflix. At least, according to Loop Capital analyst Alan Gould.

https://www.thestreet.com/story/1452...uy-disney.html

After reading the definition of "bumble" in the dictionary, I conclude that it is not a very good name for a dating app.

Tinder parent company sues dating app Bumble for patent infringement, theft of trade secrets

http://www.wtkr.com/2018/03/17/tinde...ng-app-bumble/

Claire's caters to teenagers and their stores are located in shopping malls. This is 2018, not 1986, and malls have lost favor with teens. Thus.......

Jewelry chain Claire's files for bankruptcy protection

http://www.msn.com/en-us/money/compa...D=ansmsnnews11

Atari's new game console is the VCS (Video Computer System) and it resembles the Atari 2600 that came out in 1977. Next month when the pre-order date is announced, I will be sure to notify Wreck-It Ralph, Fix-It Felix Jr., Sergeant Calhoun and Vanellope Von Schweetz.

Atari unveils new VCS console, pre-order date coming soon

https://movieweb.com/atari-vcs-gamin...preorder-date/

Volkswagen will start production of new five-passenger SUVs. Apparently those monstrous road-hogging gas guzzlers are becoming popular again.

Volkswagen to invest $340 million in expansion of Tennessee plant

http://www.reuters.com/article/us-vo...-idUSKBN1GV27K

More than 70 women have accused Harvey Weinstein of sexual misconduct, including rape -- and of course, like almost every accused man, he denies the allegations. The women are now free to go public with their stories.

Weinstein Company files for bankruptcy, ends all non-disclosure agreements

https://finance.yahoo.com/news/weins...164416238.html

This will be an extremely daunting task -- too many people are posting too many fake stories online and too many millions of other people accept the fake stories as factual.

News Initiative will spend $300 million to weed out fake news on Google platforms

http://www.msn.com/en-us/news/other/...D=ansmsnnews11

Another day, another data breach:

Hackers could have credit card numbers of 880,000 Orbitz users

http://www.yahoo.com/news/hackers-co...205528564.html

Another mega-merger. Friedrich Bayer co-founded the company in 1863 in Germany. Their first product was aspirin. Bayer now produces over-the-counter medicines, veterinary pharmaceuticals, herbicides, pesticides, insecticides, crop seeds, polyurethanes.......and aspirin.

Bayer wins EU approval for $62.5 billion purchase of Monsanto

http://www.reuters.com/article/us-mo...-idUSKBN1GX14U