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Report: Billionaire Carlos Slim ups stake in Saks
New York City -- Mexican billionaire Carlos Slim, through his Inmobiliaria Carso SA investment fund, spent $8.8 million to up his stake in Saks, according to Bloomberg.
Slim, who was Saks’s largest shareholder before the purchases and last acquired the New York-based retailer’s shares in April 2009, raised his stake to 16% from 15.7%, the report said. Slim has made it a practice to add to his investment holdings when the markets slump.
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Sports Authority CEO resigns, replaced on interim basis by Jo-Ann Stores CEO
New York City -- David Campisi, CEO and president of Sports Authority has suddenly resigned after just 17 months in the position, according to The Denver Post and other newspapers. Campisi joined Sports Authority in 2004 and served in various executive roles prior to being named chief executive and president in 2010. No reason has been given for the departure.