Labor & Employment

Cleveland -- American Greetings Corp. said Monday that the founding Weiss family has reached a deal to acquire the gift cards and party goods company for about $878 million.

The transaction is expected to close in July, and “returns the company to private ownership in a way that we believe enables the company to continue to serve the interests of its customers, employees, suppliers and the communities in which it operates as it has for over a century," said Jeffrey Weiss, president and COO.

Atlanta -- Rental chain Aaron's announced at its 2013 National Managers Meeting in Nashville that the company plans to open 125 stores in 2013 and hire 750 new employees.

Aarons added 950 new jobs across the U.S. and Canada last year.

New York -- Consumer spending increased in February by the most in five months as incomes rose and the job market improved.

The Commerce Department said on Friday consumer spending rose 0.7% last month, after an upwardly revised increase from 0.2% to 0.4% in January.  

Mahwah, N.J. -- Crossroad Cos. announced Thursday that it has named Carlo J. Caparruva as EVP of leasing services, charged with overseeing all leasing activities related to Crossroads’ development projects and existing portfolio, as well as third-party real estate services.

Atlanta -- Transwestern’s Atlanta office announced Thursday that Russell Lipscomb has been promoted to SVP of property management services.

In his new role, Lipscomb will expand his oversight into business development initiatives and engage in new pursuits to further expand Transwestern’s footprint throughout the Southeast. He will continue to direct a team of 43 property management professionals and provide oversight for all Atlanta-based property management assignments.

HOFFMAN ESTATES, Ill. — Sears Hometown and Outlet Stores has elected James Gooch to its board of directors and as chair of the audit committee of the board of directors.

Tampa, Fla. -- Burger chain Burger 21 – founded by the owners of The Melting Pot® Restaurants – announced the signing of two new multi-unit franchise agreements in Florida. Seven new restaurants will be developed over the next several years in the Fort Myers - Naples corridor, Fort Lauderdale, Coral Springs, Davie and Pembroke Pines.

To date, Burger 21 has six restaurants open in Florida and 18 franchised locations in development along the East Coast.

New York -- An SEC filing on Friday revealed that the total compensation for CVS Caremark Corp. CEO Larry Merlo jumped 44% last year to $20.3 million.

Merlo’s base salary rose slightly but the major increases came from stock and option awards and nonequity incentive-plan compensation.