Labor & Employment

By Jim Hogan, [email protected]

The retail industry is a bellwether for U.S financial health given that consumer spending is roughly 60%-70% of the economy. While the economy has sent mixed signals of late -- consumer confidence down, unemployment up -- consumer credit has swung up decidedly and leading companies in a wide swath of retail segments can point to positive year-over-year same store sales. This is prompting some retailers -- particularly discount stores--to begin opening new stores.

Atlanta -- Aaron's announced that R. Charles Loudemilk, Sr., chairman of the board of directors, will retire mid-September after founding and building Aaron's, which in now in its 57th year of operation.

Upon his retirement, Loudermilk will become chairman emeritus of the company.

Armonk, N.Y. -- IBM has entered into a definitive agreement to acquire Kenexa, a provider of human resources software and consulting services for approximately $1.3 billion in cash.

The acquisition helps make the Armonk, N.Y., company more competitive with database maker Oracle Corp. and German business software maker SAP AG, said Rick Sherlund of Nomura Equity Research, Kenexa’s software is intended to help companies recruit and manage talent through online social networking, collaboration and consulting tools.

By James H. Donell, CPM  CCIM, [email protected]

When a commercial real estate property goes into foreclosure, the effects can be damaging for all parties involved – not only for the owner of the property who has defaulted, but also the lender and any additional creditors who may have a lien on the property.

PHOENIX — Sprouts Farmers Markets announced that Shon Boney, who has served as CEO since the company's founding in 2002, will assume the role of chairman of the board of Sprouts. Long-time Sprouts president Doug Sanders will become president and CEO, whereby he will continue to be responsible for all day-to-day aspects of running the business.

According to the company, Boney is taking on the chairman role in order to spend more time with his family in Sand Diego.

Waterloo, Ontario -- Axonify Inc. said Thursday that Toys ”R” Us Canada has selected Axonify’s next generation eLearning platform to deliver training content to its employees.

Axonify said it will assist Toys “R” Us Canada in integrating learning into the daily activities of its more than 5,000 associates, while providing a personalized experience that addresses a variety of generations, knowledge levels and learning styles.

Foothill Ranch, Calif. -- As part of its push toward forcing Wet Seal to put itself up for sale, investor Clinton Group on Thursday named its own slate of board candidates to replace the existing members.

Clinton’s candidates include former United Retail Group chief Raphael Benaroya, former chairman and CEO of Charming Shoppes Dorrit Bern, former Aeropostale co-CEO Mindy Meads, former Aeropostale COO John Mills, and investment banker Lynda Davey.

Wounded retailers have a tendency to take irrational actions which means Walmart could have its hands full this holiday season as Best Buy is looking desperate and has a new CEO at the helm.