Franchise News
Diageo and Heineken Swap Assets, Brings Increased Focus to their Respective Beer Businesses
Lumber Liquidators to Pay $10 Million in Fines, Part of Settlement for Lacey Act Investigation
Lumber Liquidators Holdings, Inc. will be paying a combined total of $10 million in fines to the Environment and Natural Resources Division of the U.S. Department of Justice (ENRD), according to a press release issued by Lumber Liquidators. The payment is part of a settlement that Lumber Liquidators reached with the ENRD in the former’s compliance with the Lacey Act, a U.S. conservation law regarding the protection of plants, fish, and wildlife.
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Skyworks to Buy PMC-Sierra for $2 Billion, Expands Product Portfolio, Customer Base, End Market Applications
Skyworks Solutions, Inc., an innovator of high performance analog semiconductors connecting people, places and things has announced in a press release that they will be acquiring PMC-Sierra, Inc. for $10.50 per share, or approximately $2 billion in cash. The acquisition will expand Skyworks’ product portfolio, customer base, and end market application.
General Mills Recalls Over 1 Million Box of Cheerios, Undeclared Allergen Cited as Cause
General Mills, Inc. has voluntarily recalled several days of production of Cheerios and Honey Nut Cheerios cereal that were produced at the company’s facility in Lodi, California, according to a press release issued by General Mills. The recall was due to an undeclared allergen, wheat, which has a potential to cause adverse health effects.
Kathryn Mikells to Step Down as CFO of Xerox, WIll Move to Diageo
Xerox Corporation has announced in a press release that Kathryn Mikells, the CFO of the company, will be stepping down to pursue other professional opportunities. Mikells will be joining Diageo, the maker of the Johnnie Walker whisky, as their CFO.
Emil Brolick to Retire as CEO of Wendy's, Current CFO Expected to be Successor
Emil Brolick, the president and CEO of Wendy’s Company, is planning to retire from management duties with the company in May 2016, according to a press release issued by Wendy’s. Todd Penegor, the executive vice president and CFO of Wendy’s, is expected to be named as the successor to Brolick.
Trian Partners Discloses $2.5 Billion Stake at GE, Believes in GE's Long-Term Potential
Trian Fund Management L.P., a firm led by activist investor Nelson Peltz, has disclosed in a press release that they have become one of the top ten shareholders of General Electric (GE) with a beneficial ownership of 98.5 million GE shares that are currently valued at approximately $2.5 billion. Trian believes in GE’s long-term potential that will generate attractive stockholder returns.
Managers of Air France Flee after Angry Workers Disrupt Meeting, Airline Plans to Cut 2,900 Jobs
The managers of Air France forced to flee a meeting after a mob of angry workers waving banners and flags stormed the room, according to a report from Reuters. The airline has confirmed during the meeting that they plan to cut 2,900 jobs by 2017 and shed 14 aircraft from its long-haul fleet.
American Apparel Files Chapter 11 Bankruptcy, Will Reorganize Company, Revitalize Brand
American Apparel, Inc. has announced in a press release that the company and certain of its domestic subsidiaries have filed for a Chapter 11 of the U.S. Bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.
Deere Workers Ratifies New Labor Contract, Many Workers Still Not Satisfied
Deere & Company said in a press release that the United Auto Workers (UAW) union have informed them that its members have ratified the new six-year master labor agreement with the company. Many workers though are still not satisfied with the new labor contract, which was held on Sunday at the McLeod Center on the University of Northern Iowa campus.
EPA Strengthens Limit on Ground Level Ozone, New Policy Pleases No One
The Environmental Protection Agency (EPA) announced in a video that it is strengthening the standard of air quality for ground level ozone, or smog. The new standard didn’t please anyone, from the businesses who will need to meet the new requirements, to the Environmentalists who are calling for tighter Environmental regulations.
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