Not only taking on a mass transportation system rooted in the 19th century but also but the devil itself, The Boring Company and Chicago Mayor Rahm Emanuel announced yesterday that Elon Musk's tunneling venture has won the competition for the contract to build and operate an underground passageway that will use autonomous high-speed vehicles to shuttle passengers between downtown Chicago and O'Hare airport.
Like homeowners in states like New York and California who also pay high state and local taxes, H&R Block is not expected to do as well as others may under the Tax Cuts and Jobs Act passed by Congress last December. On Tuesday, it said it expected revenue to drop in fiscal 2019, sending its shares plunging 18% yesterday. Block CEO Jeffrey Jones also said the company would close about 400 of its company-owned retail locations, although he does not anticipate any layoffs.
Although he is not admitting any wrongdoing, Guess co-founder Paul Marciano yesterday resigned as executive chairman of the "global lifestyle brand" after an investigation by a special committee of its board determined that he had "exercised poor judgment in his communications with models and photographers and in placing himself in situations in which plausible allegations of improper conduct could, and did, arise," according to a filing with the Securities and Exchange Commission.
The IHOb reveal yesterday - the "b" in the fast-food joint heretofore and henceforth known as IHOP stands for burgers - continues to reap short-term social media benefits. Whether the gimmick sizzles or fizzles as a way to generate more traffic after the breakfast hours remains to be seen.
Even as its proposed merger with T-Mobile is under review by federal regulators, Sprint is offering a $15-a-month-per-line unlimited data plan to lure customers from its competitors, including the "Uncarrier." The Overland Park, Kan.-based carrier rolled out its Unlimited Kickstart special promotion on Thursday with the warning that "just like summer, this offer won't last long."
Even as J.M. Smucker Co released a fourth-quarter earnings report yesterday that was a lot worse than analysts anticipated it would be in both results and projections, CEO Mark Smucker iterated that the company was "transforming" its business with "a new pace of chance and sense of urgency." Smucker purveys its eponymous jams throughout North America, as well as retail brands including Folgers, Jif, Dunkin' Donuts, Crisco, Cafe Bustelo, Milk-Bone and Kibbles 'n Bits.
Mick Mulvaney, the administration's budget director who has been doubling as the acting director - and chief defanger - of the Consumer Financial Protection Bureau, yesterday relieved all 25 members of its Consumer Advisory Board of their duties. The CFPB says it will replace them with smaller advisory groups that "will ensure streamlined discussions about the bureau's policy priorities and needs in a productive manner."
Kate Spade, an accessories editor at "Mademoiselle" turned influential designer, apparently hung herself by a scarf tied to a doorknob in her Manhattan bedroom yesterday. She was 55.
Microsoft is forking over $7.5 billion in its rapidly appreciating stock to acquire GitHub, which bills itself as a platform that "brings together the world's largest community of developers to discover, share and build better software." It is the anti-Microsoft of yore, with its proprietary operating system and PC-based programs such as Word and Excel.
Berlin, Germany-based HelloFresh will begin to sell its meal kits in the 581 Giant Food and Stop & Shop supermarkets owned in the U.S. by the Dutch operator Koninklijke Ahold N.V. starting Wednesday. HelloFresh claims it is the world's leading meal kit company. It operates in the U.S., the U.K., Germany, the Netherlands, Belgium, Luxembourg, Australia, Austria, Switzerland and Canada.