Labor & Employment

New York City -- Only 7% of executives believe their companies are extremely or very prepared to comply with new lease accounting standards proposed by the Financial Accounting Standards Board (FASB), according to a recent Deloitte survey.

New York City -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.

Beachwood, Ohio -- The Developers Diversified Realty Corp. board of directors announced the company and Scott A. Wolstein have agreed he will step down from the role of executive chairman of the board of directors.

Dallas -- PeopleAnswers and Regis Corp. have announced a software licensing agreement for Regis to use PeopleAnswers as its new talent assessment software for selecting and hiring salon stylists and managers. The expected results are decreased turnover, increased customer visits and sales as well as lower operating costs.

Naperville, Ill. -- OfficeMax swung to a fourth-quarter profit as the company retailer continued to cut costs, though sales declined in both its contract and retail segments.

OfficeMax reported earnings of $12.7 million, compared with a year-earlier loss of $2.58 million. Revenue decreased 2.4% to $1.77 billion. The chain expects sales to be flat for 2011.

New York City -- Months after a voter initiative to abolish North Dakota's strict restrictions on pharmacy ownership foundered, the long-running debate resumed Tuesday in the state’s legislature, the Associated Press reported.

North Dakota is the only state in the nation that requires pharmacists to have majority ownership of most pharmacies. The law prevents major retailers, such as Wal-Mart Stores, from operating pharmacies in their own stores.

ATLANTA -- The Home Depot announced it will hire more than 60,000 seasonal associates in time for its second annual Spring Black Friday event.

Like the traditional Black Friday that occurs the day after Thanksgiving to unofficially start the holiday shopping season, The Home Depot's Spring Black Friday marks the start of home improvement's busiest shopping season -- the spring. 

CHICAGO — Walgreens last month promoted Mia Scholz from corporate VP accounting and controller to SVP accounting and controller. She joined Walgreens in 1999 as director of internal audit. She was named a divisional VP in 2003, and promoted to corporate VP accounting and controller in 2007.

Before joining Walgreens, Scholz was a senior manager for Arthur Andersen LLP in Chicago.

She received a bachelor’s degree in accounting from Miami University in Oxford, Ohio, in 1988.

MONTVALE, N.J. -- A&P announced that it has filed a motion seeking approval to close 32 stores in six states as the company continues to fully implement its comprehensive financial and operational restructuring. The store closures are expected to be completed in the company’s fiscal first quarter, subject to court approval.

CINCINNATI — The former president and CEO of Ebay has returned to Procter & Gamble's board of directors, effective immediately.

Meg Whitman, who worked as a brand assistant for P&G after graduating from Harvard Business School, served on P&G's board from 2003 to 2008. During her career, Whitman served as president and CEO of eBay from 1998 until 2008. Whitman also ran for governor of California in the 2010 elections.