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Wet Seal terminates rights plan; offers two board seats to activist investor
Foothills Ranch, Calif. -- The Wet Seal Inc. said Thursday it has dropped its temporary shareholder rights plan, citing feedback from stakeholders, and has proposed to expand its board to include two nominees of activist investor Clinton Group.
In July, Clinton Group, which owns approximately 7% of Wet Seal, called for a sale of the retailer, expressing dissatisfaction with its performance, and made a play for four seats on the board. In response, the retailer adopted a temporary shareholder rights plan with a 10% trigger.
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Hiring survey indicates best holiday job market in five years
Richmond, Va. -- An annual seasonal hiring survey released Thursday by Snagajob indicates that more holiday jobs will be available this year than have been expected in any previous season in the study’s five-year history.
The survey of more than 1,000 hourly hiring managers with responsibility for seasonal hiring, conducted by IPSOS Public Affairs for Snagajob, included the following highlights: