Finance & Capital Management

New York -- The family of James McNair, the comedian killed in the automobile accident that also seriously injured comedian Tracy Morgan, has reached a financial settlement with Wal-Mart Stores Inc, Reuters reported.

The out-of-court settlement is the first legal resolution from the crash, which occurred on June 7, 2014, on the New Jersey Turnpike.

Terms of the settlement were confidential, according to the report, and Walmart did not admit liability in the settlement.

Washington, D.C. -- Madison Marquette announced that Brad Muth has joined the company as senior managing director, portfolio management. With more than 25 years of real estate investment experience, Muth will oversee portfolio management and asset management functions for Madison Marquette. He will be based in the San Francisco office.

Goleta, Calif. - Deckers Brands has appointed David E. Lafitte to COO, effective Feb. 2. Lafitte previously served as the company's general counsel.

He replaces Zohar Ziv, who retired from the company on Jan. 16, 2015.

Lafitte has served as general counsel of Deckers since January 2012 and also was a shareholder in the law firm, Stradling, Yocca, Carlson & Rauth, P.C. where he was a member of the firm's board of directors and executive committee.

The restructuring of Walmart’s senior executive ranks continues with the latest round of appointments involving some familiar leaders in new roles with curious titles as well as some key resignations.

Ebay Inc. said it plans to cut about 2,400 positions, or 7% of its workforce, across eBay marketplaces, PayPal, and eBay enterprise in the current quarter to simplify its organizational structure.

The company also said it will explore strategic options for eBay enterprise, including a sale or an IPO.

It's the end of an era for Safeway and Albertsons, as the companies announced they have completed their merger, ending a nearly year-long process that began in 2014.

AB Acquisition LLC, the owner of Albertson's and New Albertson's, Inc., will acquire all outstanding shares of Safeway. The merger will create a diversified network that includes 2,230 stores, 27 distribution facilities and 19 manufacturing plants with more than 250,000 employees across 34 states and the District of Columbia.

Columbus, Ohio –  Express Inc. and private-equity firm Sycamore Partners announced that, despite having worked together in good faith towards a transaction during the past several months, discussions regarding Sycamore’s expressed interest in acquiring Express have been terminated. The companies said that discussions were halted due to the unavailability of financing on commercially acceptable terms.

In June, Express said it had been approached by Sycamore about a potential deal. Sycamore Partners has a 9.8% stake in Express.

Washington, D.C. - The National Retail Federation (NRF) has publicly expressed disappointment at the U.S. Supreme Court’s announcement that it would not review an appellate court ruling on whether the Federal Reserve set a 2011 cap on debit card swipe fees higher than the level sought by Congress in legislation passed the year before.

New York -- The Home Depot has been given until July to respond to allegations that its data breach occurred because the retailer did not meet its obligation to comply with security standards and to protect its customers' personal information, according to the Atlanta Business Chronicle.

At a hearing, U.S. District Court Judge Thomas Thrash gave Home Depot until July 1 and July 15, respectively, to respond to the allegations of consumers and financial institutions.

Melville, N.Y. -- A&G Realty Partners has been retained by Delia’s Inc. to manage the sale of the 71 retail store leases following the company’s recent Chapter 11 bankruptcy filing.
 
A&G Realty is currently accepting bids thru February 2, 2015 to acquire the leases, which range from 3,000 sq. ft. to 5,000 sq. ft. in key retail locations at some of the country’s top malls.