Nation's Restaurant News
Sysco Corp. will sell 11 U.S. Foods distribution facilities to Performance Food Group, a move designed to alleviate Federal Trade Commission concerns over its merger with U.S. Foods. Sysco executives are taking their case directly to the five FTC commissioners, but the agency has not approved the merger, even with the sale of the 11 facilities.
ABC News
McDonald's is selling its Big Mac special sauce in 25-milliliter tubes, but only Down Under. McDonald's is using it to raise money for its charity arm. A larger, limited-edition bottle of the special sauce - 1 of 200 - has been listed on eBay to raise money for the Ronald McDonald House Charities. The bottle boasted a high bid of about $18,000 yesterday.
The New York Times
"It is the biggest moment for our industry in popular culture pretty much ever," said Claire Cavanah, a co-founder of adult merchandise store Babeland. "We're all sort of preparing for what could be another wave of toys." The Valentine's Day premiere of Universal's "Fifty Shades of Grey" means a boon for adult playthings. The sex toy industry is certainly banking on that.
Automotive News
Outside investors are shopping for auto retailers in greater numbers - and with larger checkbooks - than the industry has ever seen. The new buyers, with names like Buffett, Soros, ZT Wealth see auto dealerships as a place to top revenue offered elsewhere. It is also an easier game because of dealer group consolidation.
CNN Money
Federica Marchionni is departing Dolce & Gabbana U.S.A. to be the next CEO of Lands' End. The latter company said Edgar Huber, Lands' End CEO of three years, will resign in about two weeks. Marchionni started with Samsung, Phillips and Ericsson, before moving to luxury brands as an SVP at Ferrari and president of Dolce & Gabbana USA.
Engadget
It's Jay Z versus Dr. Dre as the former is buying the Norwegian company behind music streaming service Tidal. The rapper and entrepreneur, through a division of his Carter Enterprises holding company, bid 464 million Krona (roughly $56 million.) The company is likely to accept. Once the deal goes through, it is likely that Jay Z will start using his popularity to raise Tidal's profile.
Consumer Reports
Citing intense price competition in the U.S. TV market, Toshiba says it will stop selling TVs in this country, and license the Toshiba TV brand to Compal, a Taiwan-based electronics company. Toshiba is the latest consumer-electronics manufacturer to quit selling TV's here. Funai now controls the Philips and Magnavox brands, and On Corporation makes RCA-brand TVs. Pioneer left the TV market in 2009, and Mitsubishi in late 2011.
Nation's Restaurant News
Shake Shack Inc., the New York-based burger chain, filed for an initial public offering that could raise as much as $100 million. The 63-unit burger chain said it plans to list on the New York Stock Exchange under the ticker symbol "SHAK." Restauranteur Danny Meyer's Union Square Hospitality Group LLC founded the first Shake Shack in 2004, with its roots as a hot dog cart.
Detroit Bureau
Honda earnings took a sharp tumble during the most recent quarter, hammered by a variety of problems including the maker's airbag recalls, as well as sluggish sales in its home Japanese market. The maker announced the 15% decrease in net income a day after it said it received reports of two more drivers, including one in Houston, who may have been killed by flying debris caused by the explosive malfunction of its airbags.
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