Franchise News
Blackstone to Acquire $3 Billion in Real Estate Interest from CalPERS, Part of Agency's Plan to Reduce Cost, External Investment Managers
Target Co-Founder Bruce Dayton Dies at 97, He was the Last Surviving Brother
Bruce Dayton, who co-founded Target Corp. with his five brothers, has died of natural causes on Friday at the age of 97, according to a report from The Wall Street Journal. Mr. Dayton, one of the five brothers who turned their family’s Minnesota department-store business in what is now known as Target Corp., was the last surviving brother.
Latest News
Airbnb Pledges to Work Together with Cities, Be More Transparent, Pay Fair Share of Taxes
Airbnb said in a blog post that the company is planning for greater cooperation with cities with its new Airbnb Community Compact policy. Under the new policy the company is planning to be more transparent and pay its fair share of taxes.
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.
IAC Offers to Acquire Angie's List, Angie's Board to Review and Evaluate the Offer
InterActiveCorp (IAC) has proposed to acquire all of the outstanding shares of Angie’s List, Inc. common stock for $8.75 per share, according to IAC’s press release published in PR Newswire. The transaction proposed would be structured as an all-cash deal, however, IAC is also considering a combination of Angie’s List with IAC’s HomeAdvisor business through a tax-free stock-for-stock exchange.
Carl Icahn Looking to Sell Fontainebleau in Las Vegas, Property Could be Sold for $650 Million
Carl Icahn, a billionaire investor, is putting up the Fontainebleau Las Vegas on the Strip, for sale, according to a report from The Wall Street Journal. CBRE Group Inc., who Icahn hired to market the unfinished resort and casino, said that they expect to sell the property for $650 million.
Dunkin Donuts Releases Festive Holiday Cups, Provide Alternative to Starbucks Controversial Cups
Dunkin’ Donuts has just released their new line of holiday cups that features the word “Joy” surrounded by images of wreaths and holly for the Christmas season, according to a report from the New York Post. The new cup design is a festive alternative to Starbucks’ conservative and controversial cup design.
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.