Franchise News
Airbnb Pledges to Work Together with Cities, Be More Transparent, Pay Fair Share of Taxes
Joe's Crab Shack Trying Out No Tippining Policy in 18 Locations, Will Raise Hourly Wages of Front-House Workers
American Airlines Adds 2 People to Board of Directors, Increases Directors to 13 Members
American Airlines Group Inc. has announced in a press release that they have appointed Martin H. Nesbitt, 52, and Susan D. Kronick, 64, to its board of directors. The appointment is immediate and it increases the airlines directors to 13 members.
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Tenable Network Security Raises $250 Million in Funding Round, Will Accelerate Company's Long-Term Global Growth
Tenable Network Security, one of the leading global providers of next-generation cyber security software, has announced in a press release a $250 million Series B funding round led by Insight Venture Partners and Accel. The investment, which is one of the largest funding rounds completed for a private security company, is expected to accelerate Tenable’s long-term global growth.
GE and Alstom Win Contracts to Supply Locomotives in India's Railways, Combined Contracts Worth $5.6 Billion
General Electric (GE) announced in a press release that it has received a Letter of Award from the Ministry of Railways in India for a locomotive supply and maintenance contract. The company will be building a new factory and supplying Indian Railways with 1,000 diesel locomotives that are worth approximately $2.6 billion over 11 years. Anil Saxena, a spokesman for Indian Railways, told Reuters that France’s Alstom has also been picked to develop and supply 800 electric locomotives valued at $3 billion.
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.
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