Business news 2024

[Rewind]

In 1932, Arthur Taubman purchased Pep Boys' three Advance variety stores in Virginia. In 1938, the chain began expanding. In 1978, the stores transitioned from selling household goods to selling auto parts.and were renamed Advance Auto. In 1985, the chain became Advance Auto Parts. The company now owns nearly 4,500 stores in the United States, Canada, Puerto Rico, and the Virgin Islands. Shares of Advance Auto Parts closed today at 41.20, a gain of 0.26 (0.64%).

Advance Auto Parts closing more than 700 stores across the US

https://www.wral.com/story/advance-a...e-us/21722692/

[Rewind]

Spirit Airlines, founded in 1983 as Charter One Airlines, is North America's seventh-largest passenger airline. Shares closed today at $1.08, unchanged.

Spirit Airlines files for bankruptcy protection but plans to keep flying

https://www.npr.org/2024/11/18/nx-s1...tcy-protection

[Rewind]

Michael Ingravalio opened Mike's Giant Submarine Shop in 1956 in Point Pleasant, New Jersey. Peter Cancro began working at the sandwich shop in 1971 and purchased it in 1975. He changed the name to Jersey Mike's Subs in 1987 and began offering franchises. Today there are around 3,500 Jersey Mike's worldwide. The company is not publicly traded.

Jersey Mike's sold to private equity firm Blackstone for $8 billion

https://www.nj.com/business/2024/11/...ne-for-8b.html

[Rewind]

AT&T purchased DIRECTV for $48.5 billion in 2015 and sold a 30% stake of the business to private equity firm TPG in 2021. In September 2024, TPG agreed to pay $7.6 billion to acquire AT&T's 70% stake in the company. Also in September 2024, DIRECTV announced plans to acquire Dish Network from EchoStar for $1 and the assumption of $9.8 billion in debt. Dish bondholders rejected the deal, which would have reduced their claims by about $1.5 billion, and now.......

DIRECTV cancels agreement to merge with Dish

https://www.cnn.com/2024/11/22/busin...ntl/index.html

[Rewind]

Stellantis, headquartered in Hoofddorp, The Netherlands, owns Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram Trucks and Vauxhal and, based on sales, is the world's fourth-largest automaker behind Toyota, Volkswagen and Hyundai. Shares of Stellantis are now at 13.20.

Stellantis CEO Carlos Tavares resigns as carmaker continues to struggle with slumping sales

https://apnews.com/article/stellanti...94a7821cb73317

[Rewind]

Before becoming CEO of Subway in November 2019, Chidsey served as CFO of PepsiCo World Trading Company and CEO of Burger King. Subway is a privately held company and is not traded on any stock exchange.

Subway CEO John Chidsey steps down amid a major transition for the sandwich giant

https://www.entrepreneur.com/franchi...e-brand/483636

[Rewind]

In 1865, William Wallace Cargill bought a grain warehouse in Conover, Iowa. The company now operates in 66 countries and produces grain, beef, poultry, cattle feed, palm oil, vegetable oil, salt, glucose syrup and other commodities. In terms of revenue, Cargill is the largest privately-held company in the United States.

Cargill to lay off 8,000 workers amid falling commodity prices

https://www.foxbusiness.com/lifestyl...mmodity-prices