Labor & Employment

Bensalem, Pa. -- Charming Shoppes said it would close 240 unprofitable stores in 2011, or nearly 12% of its total outlets, and that more than half of those would be Fashion Bug stores.
 
The locations were not disclosed.

The company said all 30 of its Catherines Plus Sizes stores in outlet locations would be shuttered over a two-year period.
 

By Kenneth H. Marks, [email protected]

Great news! After a long drought of M & A activity, the market for private companies is showing signs of life and recovery. If you own, operate or advise a middle market company, $5 million to $500 million in revenue, what does this mean for you and your clients when thinking about shareholder liquidity or selling the business? And how can you improve the odds of getting a deal done?

Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending in the United States rose more than forecast in February as incomes climbed.

Bloomberg News estimated spending would advance 0.5%.

Purchases increased 0.7%, the most since October, after advancing 0.3% the prior month. Incomes increased 0.3%, less than the 0.4% projected.

LOUISVILLE, Ky. -- Brown-Forman announced today the appointment of Lawson Whiting as managing director Western Europe, based in London, effective May 1.

Encino, Calif. -- NAI Capital announced it has appointed Vicki R. Donkin as senior VP within the firm’s Ontario, Calif., office, effective immediately.

Donkin, who will specialize in investment and land sales/leasing, and marketing and cost benefit analyses for retail and non-retail properties, was previously VP with Present Value Properties of Tustin, Calif., where she marketed tenant and landlord big-box locations.
 

NEW YORK -- Teen fashion retailer Delia's has announced the appointment of two shareholder representatives to its board of directors effective March 25. The two new directors are Michael Zimmerman, the founder and CEO of Prentice Capital Management, LP, and Mario Ciampi, the managing partner of Prentice Capital Management, LP. Zimmerman will also serve as a member of the corporate governance and nominating committee, and Ciampi will be a member of the compensation Committee.

Beachwood, Ohio -- Developers Diversified Realty Corp. announced Friday it has furthered its commitment to risk management with the formalization of its Enterprise Risk Management Program.

The new program, according to Developers Diversified, is an integration of strategy, process, people and technology that promotes the identification, prioritization, ownership and management of the company's critical risks.

PURCHASE, N.Y. -- PepsiCo has announced the appointment of Maura Abeln Smith to the position of EVP government affairs, general counsel and corporate secretary, effective May 5.  Smith will succeed Larry Thompson, who is retiring from the company to assume a teaching position at the University of Georgia Law School.

Smith, who will report to PepsiCo Chairman and CEO Indra Nooyi, will be responsible for the company's worldwide legal function and government affairs organization.