The President-elect threw a tweet on the fire at Freeport, Maine-based L.L. Bean yesterday by not only thanking board member Linda Bean for her "support and courage" but also by urging people to buy its products.
Verizon is putting the squeeze on heavy data users, giving customers who are on unlimited data plans and habitually use more than 200 gigabytes a month or so to choose another plan or be disconnected.
As the clamor of competitors nears a 10, Sonos co-founder and CEO John MacFarlane announced in a blog post yesterday that he was turning over leadership to the audio firm's president, Patrick Spence, after 15 years at the helm.
Chocolate and dogs usually do not mix -- but don't tell that to Mars Inc. The maker of such delectables as Peanut M&Ms for two-legged creatures and Pedigree for canines is paying $7.7 billion cash dollars for VCA, a chain of nearly 800 animal hospitals and 60 diagnostic clinics in North America. It's also assuming $1.4 billion in debt, putting a total value of $9.1 billion on the deal for a company that was founded with one facility in Los Angeles in 1986 and now trades on NASDAQ under the symbol WOOF.
Dedicated followers of The Limited are finding their options are just that after the retailer revealed Friday that it was shutting down all 250 of its shops and reportedly will lay off about 4,000 workers, about 800 of whom are full-time staffers.
Sears Holdings' spiraling losses, as Sarah Mahoney details below, have turned out to be Stanley Black & Decker's gain. Over time, Stanley will pay Sears about $900 million for the Craftsman line, which Sears has controlled since it bought the trademark for $500 in 1927 and "quickly touted it as superior to the Fulton and Trojan tool lines," as a timeline states.
Macy's yesterday said it was closing 68 stores of its 730 stores by the spring -- wiping out about 3,900 jobs -- and that it would lay off about 6,200 additional workers nationwide in a move it characterizes as a "need for greater efficiency and productivity."
Carnival Cruise Lines yesterday took the media embargo off a new smart device that CEO Arnold Donald officially will take the wraps off in a keynote at the Consumer Electronics Show in Las Vegas tomorrow. In short, the Ocean Medallion is a wearable concierge that will not only open passengers' stateroom doors as they approach but also track their gustatory desires and locate missing partners who are doing some cardio on the treadmill (or indulging in a Carnival Cosmo at the Red Frog Pub).
Having been, once upon a time, a general assignment reporter covering the streets of New York City, I know how mayhem sells newspapers. It also attracts the most eyeballs online, apparently, as most of the stories making 2016's Top 10 "Top of the News" stories below, based on readership, are more about conflict than resolution. The two exceptions involve Victoria's Secret - no secret why there - and a new Dyson hair dryer. Go figure on that one.
After months of negotiations with the Department of Justice, Deutsche Bank announced a $7.2 billion deal in principle yesterday to settle allegations that it had sold residential mortgage-backed securities (RMBS) that contributed to the global financial crises of 2008. The amount is nearly half of what the bank had warned the feds were looking to get; it is broken into $4.1 billion in "consumer relief" and $3.1 billion in fines.