Labor & Employment

Both sides of a West Coast labor dispute are entering extra time as the contract between the Pacific Maritime Association and the International Long Shore and Warehouse Union officially expired June 30.

As expected, both sides are negotiating in an effort to avoid the economic damage from a costly strike on the docks that, according to a recent study, could cost as much as $2.5 billion per day. 

New York -- Retail chain Hobby Lobby was triumphant In a 5-4 ruling by the Supreme Court on Monday in which the court ruled that the federal government cannot force privately held corporations to provide forms of contraceptive coverage that violate the religious beliefs of their owners. The ruling means that private companies can opt out of the Affordable Health Care Act’s contraception mandate.

Bob McDonald ran the world’s largest CPG company as CEO of Procter & Gamble and now he is returning to public service as head of the embattled Veteran’s Administration.

New York -- The battle for control over American Apparel Inc. shifted into high gear with the company adopting a one-year stockholder rights plan, or so-called poison pill, aimed at stopping founder and ousted chairman and CEO Dov Charney from seizing control of the chain.

Charney is American Apparel’s largest shareholder, with a 27.2% stake in the company. On Wednesday, he signed a deal with Standard General whereby the New York firm would buy at least 10% of the company’s stock and then loan Charney the funds to acquire the stake.

New York -- Richard Sharp, the former CEO of Circuit City and driving force behind CarMax, has died due to complications from a rare type of Alzheimer’s disease. He was 67.

The Arts and Crafts retailer went to the mat over its religious convictions, and on Monday the U.S. Supreme Court sided with the privately held company in a rebuke of the Patient Protection and Affordable Care Act of 2010.
 
Hobby Lobby co-founder Barbara Green said her family was overjoyed by the Supreme Court’s decision.
 

Richard Sharp, 67, the long-time CEO of Circuit City who founded used car retailer CarMax has died of Alzheimer’s disease at his home near Richmond, Virginia.

Sharp joined Circuit City in 1982 and served as CEO of the company from 1986 to 2000. Under his leadership, Circuit City enjoyed meteoric growth with sales that increased from $175 million in 1986 to more than $10 billion by 2000. Eight years after he had left the company, Circuit City filed for bankruptcy in 2008 and the following year was liquidated.

Brisbane, Calif. – Bebe Stores Inc. will exit its 2b business by July 5, which is the end of the company’s fiscal 2014. The retailer says this will allow it to increase its focus on the core Bebe brand’s retail and outlet stores, e-commerce and international licensing business.