Corporate Governance

A week after announcing that it would boost wages for its employees, Walmart is stepping up again in a big way with a commitment to close the skills gap of entry level workers.

The Walmart Foundation is making an initial investment of $16 million to seven national nonprofits as part of the Opportunity initiative, a $100 million commitment to help increase the economic mobility of entry level workers in retail and adjacent sectors.

New York -- Jay Carney, former White House press secretary for the Obama administration and current CNN analyst, has been appointed senior VP of worldwide corporate affairs for Amazon, effective March 2. The newly created position brings Amazon’s worldwide public relations and public policy shops into one department under Carney.

The news was first reported by Politico, which noted that Carney will leave CNN and divide his time between the online retail giant’s headquarters in Seattle and Washington, D.C.

Lakeland, Fla. -- Retail Solutions Advisors (RSA) has been selected as the exclusive leasing representative for Crosswinds, a 139,037-sq.-ft. community shopping center near Tyrone Square Mall in St. Petersburg, Florida.  

Current anchors include Marshall’s, Michael’s and Bed Bath and Beyond.
 
The property is owned by Crosswinds St Pete, LLC, who will continue to manage the center.

Jay Carney spent three years parsing words as president Barack Obama’s top spokesman and now has joined Amazon.com as senior vice president of worldwide corporate affairs, according to Politico.

Cranberry Township, Pa. -- Teen retailer rue21 announced the opening of its flagship, which is located less than one mile from its corporate office. The 8,000-sq.-ft. store includes apparel and accessories for both girls and guys as well as the chain’s newest and fastest-growing division, rue+ plus sizes. The merchandise mix also features fragrance, beauty and room decor.

Pleasant Prairie, Wis. -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of The Plaza at Prairie Ridge located in Pleasant Prairie (Kenosha County), Wisconsin. The 9,035-sq.-ft. three-tenant center was purchased by Mark Cosenza, VP of Oak Brook, Illinois-based Inland Real Estate Acquisitions, Inc. The seller was Milwaukee-based Evo Properties, LLC.
 

Hoffman Estates, Ill. -- Sears Holdings Co. on Thursday reported its 11th consecutive quarterly loss, posting a loss of $159 million for the fourth quarter, down from loss of $358 in the year-ago period, amid cost reductions.

The struggling chain saw its losses for the full year widen to $1.7 billion from $1.4 billion, marking its fourth straight year of decline. Total long-term debt rose to $3.2 billion from $2.9 billion a year earlier.

Fort Worth, Texas – RadioShack Corp. will reportedly auction the leases of 2,000 stores in March, while GameStop has entered the picture as a bidder. According to Reuters, the bankrupt retailer received court approval to hold the auction on March 17 with Standard General making an initial “stalking horse” bid of $200 million and will move the date back to March 23 if more bidders emerge.