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Gymboree files for bankruptcy, plans to close stores

Memphis Business Journal - Thu, 01/17/2019 - 06:40
Children’s clothing retailer Gymboree Group Inc. filed for bankruptcy protection and plans to shut its Gymboree and Crazy 8-brand store operations, The Wall Street Journal reports. Late Wednesday, the San Francisco-based company said it also entered into an asset-purchase agreement for another of its brands with an affiliate of Goldman Sachs Group Inc., called Special Situations Investing Group Inc., or SSIG, the Journal says. Under the arrangement, SSIG will serve as the stalking-horse bidder…

Lampert wins Sears auction, more than 400 stores to remain open

Memphis Business Journal - Thu, 01/17/2019 - 06:33
Sears Holdings Corp. Chairman Eddie Lampert has won a bankruptcy auction for the beleaguered retailer in move that could keep hundreds of stores open. Lampert and his ESL Investments hedge fund won with a $5.2 billion bid for the bankrupt Hoffman Estates, Illinois-based retailer that will keep more than 400 stores open and save nearly 50,000 jobs, according to reports. The Wall Street Journal reported Lampert won the days-long bidding process by upping an original bid of $5 billion during negotiations…

Coca-Cola adds 2 more flavors to rejuvenate Diet Coke

Memphis Business Journal - Thu, 01/17/2019 - 06:30
Coca-Cola is adding a pair of new flavors to its revitalized Diet Coke brand. The Coca-Cola Co. (NYSE: KO) on Wednesday introduced Blueberry Acai and Strawberry Guava to its expanded list of flavors for the zero-calorie drink. The move comes one year after the Atlanta-based beverage giant launched a "brand rejuvenation" for the soda with four flavors, new packaging and more contemporary marketing. Along with the two new flavors, selected from a shortlist of 20 options, Coke said it will release…

Huawei Said to Be Under U.S. Investigation in Trade-Secrets Case

NYT Technology - Wed, 01/16/2019 - 22:37
The inquiry grew out of a 2014 civil suit and appears unrelated to other pressure faced by the Chinese company, two people familiar with the case said.

Microsoft Pledges $500 Million for Affordable Housing in Seattle Area

NYT Technology - Wed, 01/16/2019 - 21:55
The move is the most ambitious effort yet by a tech company to fund construction for local teachers, firefighters and other middle- and low-income residents.

On Technology: How Secrecy Fuels Facebook Paranoia

NYT Technology - Wed, 01/16/2019 - 15:02
The social platform knows everything that happens within its walls — that’s the whole point — but it is oddly reticent when it comes to misinformation campaigns.

From Memphis to the Supreme Court: The case that may uncork a wave of wine sales

Memphis Business Journal - Wed, 01/16/2019 - 14:31
If you enjoy exploring the many vintages and nuances of wine, pay attention: The U.S. Supreme Court heard arguments today in a case that could bring the multibillion-dollar wine industry closer to your doorstep. This week's arguments stem from a Tennessee dispute, Tennessee Wine and Spirits Retailers Association v. Blair, over wine sales across state borders and the labyrinth of post-Prohibition laws limiting how alcohol-based beverages can be sold to consumers. Now, the nation's highest court considers…

Tech We’re Using: How to Sort Through a Cornucopia of Television Shows

NYT Technology - Wed, 01/16/2019 - 14:24
Our assistant TV editor has a state-of-the-art setup for watching shows and movies. But here’s what happens when there can be too much content to choose.

Why home prices have risen 50 percent in one Memphis neighborhood

Memphis Business Journal - Wed, 01/16/2019 - 14:09
A story about investors, bank regulations, and — oddly enough — billboards.

FedEx 'leverages' relationship in Israel, announces acquisition

Memphis Business Journal - Wed, 01/16/2019 - 13:48
FedEx Express will solidify its presence in Israel via an acquisition. Memphis-based FedEx Express — a subsidiary of logistics and delivery giant FedEx Corp. — announced Jan. 15 plans to acquire the International Express business of Israel-based Flying Cargo Group. FedEx Express and Flying Cargo Group have worked together via a service agreement for the past 30 years. The acquisition news was released just as that agreement nears its expiration. “Israel has been and remains an important…

Memphis docs running clinical trial on Cholesterade

Memphis Business Journal - Wed, 01/16/2019 - 13:36
Few things are more synonymous with sports than a performance drink created by Dr. J. Robert Cade. His beverage, Gatorade, became a multibillion-dollar product with benefits touted to help athletes gain an edge on the scoreboard. Cade's other drink supplement, Cholesterade, doesn't have the sports connection, a catchy name, or celebrity endorsements behind it. But, it may offer more important benefits. Cade’s high cholesterol led to his research on that health risk in the 1990s at the University…

How Delta is using brand innovation to push premium products

Memphis Business Journal - Wed, 01/16/2019 - 13:14
Delta wants to be more than an airline. It wants to be a consumer brand, and it is mainly doing so by significantly improving its onboard experience and upcharging customers looking for better seats or extra legroom.

YouTube Bans Risky Prank Videos Amid Spate of ‘Bird Box’ Challenge Stunts

NYT Technology - Wed, 01/16/2019 - 13:08
The video-sharing site said that it was clarifying its policies on the posting of harmful content to explicitly exclude pranks with a “perceived danger of serious physical injury.”

Lee taps leader of Nashville construction firm to run TDOT

Memphis Business Journal - Wed, 01/16/2019 - 12:54
The man who was running the busiest construction company in Nashville will run the Tennessee Department of Transportation under Governor-elect Bill Lee. On Jan. 15, Lee announced that he chose Clay Bright to lead the transportation department. Lee and his Cabinet members will be sworn into office Saturday. Bright, a Davidson County resident, was most recently regional vice president for Brasfield & Gorrie. Click here to read a Q&A with him from 2017, a year in which Brasfield & Gorrie reeled in…

Tech Tip: The Easy (and Free) Way to Make a Budget Spreadsheet

NYT Technology - Wed, 01/16/2019 - 11:36
With a little time, typing and easy-to-use software, you can quickly see your financial picture much more thoroughly and better plan for the future.

Facebook Advertising Profiles Are a Mystery to Most Users, Survey Says

NYT Technology - Wed, 01/16/2019 - 09:04
About three-fourths of the Facebook users in a Pew Research Center survey said they were not aware of the Ad Preferences page, which lists their personal traits made available to advertisers.

See inside: Downtown Hilton Garden Inn ready to open

Memphis Business Journal - Wed, 01/16/2019 - 07:00
The new Hilton Garden Inn on Union Avenue is set to open this week. Located, just across from AutoZone Park, the hotel's 150 rooms feature views of the park and the proposed Canopy Hotel site. The hotel bar, The Greyhound, is an homage to the Greyhound Lines station that used to be located at the site. Separate from the bar is a restaurant that will serve breakfast, lunch and dinner. Developed by Chattanooga's Vision Hospitality Group Inc., the hotel also includes a small swimming pool, a 1,200-square-foot…

Doc's liquor store bucks trends, signs new lease at expanding Carrefour

Memphis Business Journal - Wed, 01/16/2019 - 06:58
Gill said his only guess about the source of some of the rumors about the liquor store leaving comes from people seeing the final plans last fall for the major Carrefour redevelopment and not understanding that those plans have been forming for a long time.

Sports, media power player aims to bring Major League Baseball to Nashville

Memphis Business Journal - Wed, 01/16/2019 - 06:00
A new-to-Nashville businessman, who cites high-powered connections in sports and business, is spearheading an effort to bring a Major League Baseball team to Nashville. Music City Equity Group, formed by John Loar, is emerging in the wake of the mid-2018 revelation by the league's commissioner, Rob Manfred, that Nashville is on the league's short-list of potential expansion cities. While Major League Baseball hasn't announced a specific timetable for when it might add two teams to its ranks, Manfred's…

'Our job is not done:' Strickland running for reelection, with substantial war chest

Memphis Business Journal - Tue, 01/15/2019 - 14:54
Memphis Mayor Jim Strickland is officially running for reelection, announcing Tuesday, Jan. 15, that he would seek another term. "Memphis has momentum, and I think our administration has played a large role in that. Our job is not done. I think we need another four years to expound on what we've done. … We have real challenges and I think we've made real progress on some of those challenges. I think we can substantially tackle them in a second term," said Strickland in an interview with MBJ.…


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