The Mill, which grants its members access to a variety of tools and equipment, has opened a retail space where members can sell their creations to the public.
Tourism
Adjusted fourth-quarter earnings totaled 40 cents per share, beating analyst expectations—but revenue continued to fall.
The struggling electronics retailer on Tuesday revealed compensation arrangements for Hubert Joly, who left global hospitality company Carlson to become its next chief executive.
A radical renovation aims
to put the 66-year-old restaurant on a glide path to 100.
At 50th & France,
shopkeepers focus on perfecting their niches and minding one another’s turf
Best Buy—which on Monday named a new CEO and whose founder is pursuing a private takeover—reported a steep decline in second-quarter earnings and suspended its full-year forecast.
Rautio replaces Hubert Joly, who will take the helm at Best Buy Company early next month; she is the fifth chief executive in Carlson’s 74-year history and the second female to serve in the top spot.
Best Buy offered to share financial information as requested by founder Richard Schulze—on the condition that he postpone bringing a buyout offer to shareholders—but negotiations appear to have stalled.
The Houston-based company said that it does not plan to change the mall’s tenant mix or management staff.
Richard Schulze has reportedly recruited KKR & Company, Leonard Green & Partners, TPG Capital, and Apollo Global Management to help bankroll his proposed buyout.
The partnership between Target and Best Buy, which owns the Geek Squad, is part of a pilot program through which one Minneapolis store and all 28 Denver-area stores will feature Geek Squad tech experts and services.
Analysts reportedly say that Schulze’s efforts to reclaim the company with a team of Best Buy veterans could put the current board on the defensive and lead it to hire a chief executive who has more prominence in the retail sector than Interim CEO G. “Mike” Mikan.
Fitch Ratings and Standard & Poor’s both downgraded their credit ratings for Best Buy, saying that a buyout by founder Richard Schulze would add significant debt.
LCH Pavement Consultants, which Target hired in 2009 to oversee parking lot repairs and maintenance across the country, allegedly conspired with several other companies to inflate and fix prices, misrepresent work being done, and distribute kickbacks.
Richard Schulze offered $24 to $26 a share. The company described the offer as “highly conditional,” and one analyst said that the move seems “more like a negotiating tactic than a fully-funded and committed offer.”
The cuts are part of the struggling grocer’s plans to restructure its technology department in an effort to reduce costs and increase efficiency.
Former CEO Brad Anderson and former President and Chief Operating Officer Al Lenzmeier are reportedly among those Richard Schulze is recruiting for his executive team as he attempts a private takeover.
Surly sought applicants “with a strong local presence”—and it has chosen Minneapolis-based HGA Architects for its brewery project.