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Labor & Employment

  • Walmart, CVS and the nature of competition

    The word competition gets tossed around a lot in the retail industry as operators talk about market positioning -- who they do and don’t compete with. Oftentimes, companies will refer to direct competitors, but one thing about Walmart is that it has always tended to take the broad view of competition in that any company, no matter how small, who sold anything offered at Walmart was viewed as a competitor.

  • Gap Foundation head to serve on White House council

    WASHINGTON - Gap Inc. announced that President Obama intends to appoint Bobbi Silten, chief foundation officer at Gap Inc., to serve on the White House Council for Community Solutions. The Council will provide advice to the President on the best ways to mobilize citizens, nonprofits, businesses and government to work more effectively together to solve specific community needs.

  • Deloitte Spending Index down as housing market remains weak

    NEW YORK - The Deloitte Spending Index, comprising four components -- tax burden, initial unemployment claims, real wages and real home prices -- fell to 4.29%, from an upwardly revised gain of 4.71% a month ago. According to Deloitte the decline was primarily due to sustained weakness in the housing market despite incremental gains in other areas.  

  • Dr Pepper Snapple Group promotes two execs

    PLANO, Texas - Two members of the Dr Pepper Snapple Group executive leadership team have been promoted to the level of executive vice president, the company announced.

    Effective Jan. 1, 2011, David Thomas, Ph.D., is EVP research and development, and Tina Barry becomes EVP corporate affairs. Both continue to report directly to Larry Young, DPS president and CEO.

  • Centro NP Residual Holding forms JV with Inland American

    New York City -- Centro NP Residual Holding LLC said Friday it has sold a portion of its interest in 25 shopping centers and formed a joint venture with Inland American CP Investment, LLC, a wholly owned subsidiary of Inland American Real Estate Trust.

    The new joint venture has secured $310 million of term loans with J.P. Morgan and Goldman Sachs, which mature in 10 years and are secured by assets within the joint venture.

  • Best Buy 3Q sales lower than expected

    MINNEAPOLIS - Best Buy reported net earnings of $217 million, or 54 cents per diluted share, for its fiscal third quarter, compared with $227 million, or 53 cents per diluted share, for the prior-year period.

  • CareerBuilder survey: One bad hire costs business more than $50,000 on average

    Chicago -- According to a survey released Monday by CareerBuilder and conducted by Harris Interactive, 80% of retail companies report that a bad hire has adversely affected their business in the last year, meaning that hiring the right employees will become a top priority in 2011.

    Nearly one-quarter (23%) of the 254 U.S. retail hiring managers surveyed said that one bad hire cost their business more than $50,000 in the last year. One-third (33%) said that one bad hire cost them more than $25,000.

  • Court accepts A&P's DIP facility

    MONTVALE, N.J. — Bankrupt grocer A&P has announced that the U.S. Bankruptcy Court for the Southern District of New York has approved the $800 million debtor-in-possession financing provided by JPMorgan Chase. Of the total DIP facility, a $350 million term loan immediately has been made available.

    As previously reported, A&P filed for bankruptcy on Sunday and will keep its 395 stores open and operational during the proceedings.

    In addition, the court granted A&P's motion to approve its request for "first day orders," including:

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