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Trading Partners

  • If you can’t beat them, acquire them

    Branded food supplier ConAgra’s acquisition of private label rival Ralcorp promises to create an interesting new dynamic when it comes to trading partner relationships.

    Earlier this week, the companies announced they had reached an agreement valued at $6.8 billion whereby ConAgra will acquire Ralcorp for $90 a share to create one of the nation’s largest food companies with annual sales of roughly $18 billion.

  • Costco gives shareholders a special gift

    Costco will pay a $7 a share special dividend before year end as it looks to return cash to shareholders in advance of what is expected to be a 2013 tax increase on dividend payments.

    The total payout will amount to about $3 billion and is extraordinarily generous. Especially considering Costco’s net cash provided by operating activities for its fiscal year ended September 2, was only slightly more than $3 billion and cash, cash equivalents and short term investments totaled $4.854 billion.

  • Happy belated HQ grand opening

    American Greetings is delaying plans to develop a new world headquarters pending the resolution of a buyout proposal from CEO Zev Weiss and other members of management.

    American Greetings board of directors believed it was advisable to temporarily delay the project in light of the proposal from Weiss, president and COO Jeffrey Weiss and other members of the Weiss family to take the company private.

  • OfficeMax exec appointed to Chicagoland Chamber of Commerce board

    CHICAGO — OfficeMax EVP and president of OfficeMax Workplace John Kenning has been appointed to the board of the Chicagoland Chamber of Commerce.

    The appointment comes just seven months after Kenning joined OfficeMax to lead the retailer’s contract division that was renamed OfficeMax Marketplace earlier this month.

  • Merchants to appeal preliminary ruling in proposed interchange settlement

    Washington, D.C. -- On Tuesday, a majority of named class plaintiffs filed a notice of appeal to challenge a ruling from the U.S. District Court for the Eastern District of New York granting preliminary approval to a proposed settlement of a long-standing antitrust class action filed by merchants against Visa, MasterCard and the largest banks. The merchant group will ask the U.S. Court of Appeals for the Second Circuit to deny preliminary approval due to the legal defects in the proposed settlement.
     

  • Wal-Mart fires supplier that used Bangladesh factory

    New York -- According to a Tuesday report by Bloomberg, Wal-Mart Stores Inc. has terminated a supplier that made apparel at the Bangladesh factory where an estimated 124 people died in a fire on Nov. 24.

    The Tazreen Fashion-owned factory will no longer produce merchandise for Walmart, according to the report, which also stated that Tazreen subcontracted work without Wal-Mart Stores’ authorization. The supplier has not been named.

     

  • Macy’s exec joins GS1 U.S. board of governors

    LAWRENCEVILLE, N.J. — Peter Longo of Macy’s has been appointed to the GS1 U.S. board of governors, the information standards organization announced today. GS1 U.S. develops supply-chain standards, solutions and services for more than 200,000 businesses in 25 industries.

  • Supervalu in pay freeze at headquarters

    Minneapolis -- Supervalu on Friday said it would implement a pay freeze for all employees at its corporate headquarters and said it would also reduce or suspend matching contributions to workers’ 401(k) plans, effective next year.

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