Franchise News
Carl Icahn Looking to Sell Fontainebleau in Las Vegas, Property Could be Sold for $650 Million
Joe's Crab Shack Trying Out No Tippining Policy in 18 Locations, Will Raise Hourly Wages of Front-House Workers
Joe’s Crab Shack, a casual seafood chain, has eliminated tipping at 18 of its locations since August and will probably expand the policy nationwide, according to a report from CNN Money. The restaurant will also be increasing the hourly wages of front-house workers at the selected restaurant to around $12 to $14 an hour.
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United Bankshare to Acquire Bank of Georgetown, Enhance Existing Footprint in DC Metro Region
United Bankshares, Inc. announced in a press release that it will be acquiring Bank of Georgetown, a privately held community bank, for approximately $269 million. The acquisition will strengthen United Bankshares’ franchise and enhance its existing footprint in the D.C. Metro region.
DuPont Names Edward Breen Chairman and CEO, Investors Expect Major Changes to the Company
DuPont has announced in a press release that its board of directors have named Edward D. Breen as the company’s permanent chairman and CEO effective immediately. The Wall Street Journal adds that investors expect Breen to bring major changes to the agriculture-and-chemicals conglomerate.
Seaworld to End Theatrical Killer Whale Show in San Diego, Will Replace it With More Informative Presentation
SeaWorld Entertainment Inc. is planning to end its traditional Shamu show in San Diego as the company rebuilds its brand and battles declining sales, according to a report from The San Diego Union-Tribune. SeaWorld plans to replace the theatrical show with a more informative one that shows the natural behavior of the orca by 2017.
UAW's Tentative Agreement With Ford Endorsed by Local Leaders, Richer than Contracts Agreed by UAW with Other Automakers
The local union leaders on the United Automobile Workers (UAW) National Ford Council have overwhelmingly approved the proposed tentative agreement with Ford Motor Company on Monday, according to a press release issued by UAW. The tentative agreement with Ford is slightly richer compared to the deals that UAW has secured with Fiat Chrysler Automobiles and General Motors Co (GM).
Yahoo Hires McKinsey & Co., Will Help Company Decide which Units to Shutter, Sell or Invest More
Yahoo Inc. has hired McKinsey & Co., a global management consultant firm, to help the company, people close to the situation told Re/code. The consultant firm will help Yahoo decide on which unit will it shutter, sell or invest more in.
Peabody Reached Agreement with New York Attorney General Regarding Risk Disclosure that Arises from Climate Change, End Misleading Statements
New York Attorney General Eric T. Schneiderman has announced in a press release that it has secured an agreement with Peabody Energy Corporation to end its misleading statement and to disclose to investors and shareholders the risks that arises from climate change.
Canadian Pacific to Explore Takeover of Norfolk Southern, Attempting to Consolidate the North American Railroad Industry
Canadian Pacific Railway Ltd. is exploring a takeover of U.S. carrier Norfolk Southern Corp., people familiar with the matter told Bloomberg. The move is an attempt to consolidate the North American railroad industry.
Several Retailers Will Still Open at 6 P.M. on Thanksgiving Day, Betting that Millions Still Want to Shop on that Day
Several of the biggest retailers in the U.S. will still be sticking to what’s become a Black Friday shopping tradition and open their stores at 6 p.m. on Thanksgiving Day, according to a report from USA Today. These retailers are betting that millions of people would still want to shop on Thanksgiving.
Lufthansa Announces Cancellation of 929 Flights Due to Labor Union Strike, Discussions on Retirement and Wage Issue Broke Down
Lufthansa AG, Germany’s airline, has canceled about 929 continental and intercontinental flights on Monday, November 9, 2015, according to travel information published by Lufthansa. The cancellations were due to the Independent Flight Attendant’s Organization (UFO) call for strike action, which is continuing for a third day, on Lufthansa’s flights to and from Frankfurt, Dusseldorf, and Munich.
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