Business news 2022

[Rewind]

Last week, Johnson & Johnson reported making $93.8 billion in sales in 2021. This $590 million settlement will not hurt them. Not in the least. Shares of Johnson & Johnson closed today at 170.88, a drop of 1.41 (0.82%).

Native American tribes reach $590 million settlement with Johnson & Johnson over opioids
The tribal settlements are part of more than $40 billion worth of settlements, penalties and fines rung up over the years by companies over their role in opioids.

https://www.huffpost.com/entry/triba...b04f9a12c34cf5

[Rewind]

Spirit Airlines was founded in 1983 in East Detroit as Charter One Airlines and moved its headquarters to Miramar, Florida in 1999. Spirit is the largest low-cost passenger carrier in North America.

Frontier Airlines buying Spirit in low-cost carrier deal
The $2.9 billion cash-and-stock deal will allow the combined airline to be more competitive against its larger rivals.

https://www.huffpost.com/entry/us-fr...b09170e9d3aee8

[Rewind]

Six magazines acquired by IAC last year will cease print publication and be online only. Around three hundred people will lose their jobs. Many of IAC's 19 other magazines – including People, Southern Living and Better Homes & Gardens – will see reductions in the number of pages.

Entertainment Weekly, InStyle and four other Meredith magazines will cease print publications

https://www.latimes.com/entertainmen...dith-magazines

[Rewind]

ViacomCBS has rebranded as Paramount Global. The company owns CBS Television, CBS Films, CBS Sports Network, Smithsonian Network, Showtime, Paramount+, Simon & Schuster, Scribner, Pocket Books and Atria Books. Paramount Pictures Corporation was founded in 1914 by Utah theater owner William Wadsworth Hodkinson. It is the second oldest movie studio in the United States. (Universal Pictures was founded in 1912.)

ViacomCBS is renamed Paramount in a nod to its past and streaming future

https://www.latimes.com/entertainmen...reaming-future

[Rewind]

"I like Pepsi but you know what would make it even better? Adding nitrogen to it." Said nobody ever.

Nitro Pepsi, the first ever nitrogen-infused cola, hits stores this March

https://www.msn.com/en-us/foodanddri...rch/ar-AAUdK5z

[Rewind]

Dozens of American companies – including Nike, Exxon, Ford, Volvo, Boeing, Disney, Harley-Davidson and Google Maps – are suspending sales in Russia in response to Russia's invasion of Ukraine, now in its seventh day. An estimated 2,000 Ukrainian civilians and 4,500 Russian soldiers have died so far.

Apple halts sales in Russia, bans propaganda apps over Ukraine war

https://nypost.com/2022/03/01/apple-...r-ukraine-war/

[Rewind]

The Family Dollar chain was founded in 1959 in Charlotte, North Carolina and now has stores in every state except Alaska, Hawai'i, Oregon and Washington. Dollar Tree acquired Family Dollar in 2015. Dollar Tree also acquired Family Dollar's rats.

400 Family Dollar stores closed after a rat infestation. It's part of a troubling pattern.

https://www.cnn.com/2022/03/04/busin...ree/index.html

[Rewind]

Amazon has 24 "brick-and-mortar" bookstores in the United States. All will be closing, along with all the Amazon 4-Star and Amazon Pop Up stores in the US and UK.

Amazon to shut its bookstores and other shops as its grocery chain expands

https://www.reuters.com/business/ret...ps-2022-03-02/

[Rewind]

Stolichnaya vodka – the name loosely means "capital city," referring to Moscow – was first manufactured in 1944. Since 2000, the vodka has been made in Latvia. The company's headquarters is in Luxembourg. Less than 1% of vodka consumed in the US comes from Russia.

Stoli vodka announces rebrand
CNN, Mar 5 2022 1:44 PM ET

The maker of Stolichnaya vodka has announced a major rebrand in direct response to its founder's "vehement position" against the Putin regime and the Russian invasion of Ukraine. The vodka, famously marketed as Russian, will now be sold and marketed simply as Stoli.

https://www.cnn.com/2022/03/05/busin...sia/index.html

[Rewind]

A growing number of companies are suspending sales in Russia in response to Russia's invasion of Ukraine. McDonald's has temporarily closed its 850 restaurants in Russia but will continue to pay their 62,000 employees. The war, now in its 13th day, has left more than 13,000 civilians and military personnel dead, according to Reuters.

McDonald's, Starbucks and Coca-Cola leave Russia

https://www.cnn.com/2022/03/08/busin...sia/index.html