Corporate Governance

Indianapolis - Simon and Noble Investment Group, a real estate private equity firm, which specializes in the lodging and hospitality real estate sector, have launched a joint venture that will bring the AC Hotels by Marriott brand to Phipps Plaza, a luxury shopping destination located in Atlanta's Buckhead district.

Cincinnati – The Kroger Co. has been named to the United States Hispanic Chamber of Commerce (USHCC) Million Dollar Club. Introduced by the USHCC in 2010, the Million Dollar Club recognizes corporations that are leaders in supplier diversity and integrating Hispanic business enterprises into their strategic sourcing and procurement process.  

Hingham, Mass. – Fast-casual burger chain Wahlburgers has signed a three-restaurant franchise agreement in Las Vegas with Vegas American Hospitality Inc. Wahlburgers will debut in Las Vegas in early 2015 with the opening of its first restaurant at a location soon to be disclosed.  

Walmart already offers a prepaid debit card, credit card, check cashing and money transfers, but it’s expanding its financial services to include an exclusive checking account called GoBank, with Green Dot Corp., a prepaid-cards specialist.

The checking account is linked to MasterCard debit cards. GoBank, which will be available nationwide by the end of October, doesn’t charge overdraft fees or minimum balance fees and waives the monthly membership cost of $8.95 with qualifying direct deposits of $500 a month.

Bentonville, Ark. – Wal-Mart Stores is moving deeper into financial services. The retailer is launching an exclusive checking account product, called GoBank, with Green Dot Corp., a prepaid-cards specialist that has a subsidiary bank. Wal-Mart already offers a prepaid debit card, credit card, check cashing and money transfers.

Procter & Gamble vice chairman Werner Geissler, who is also special adviser to the chairman and CEO, has announced plans to retire from the company Dec. 31, after more than 35 years of service.

Arlington, Va. -- Pentagon Row, the outdoor shopping and residential center in Pentagon City, Virginia, has installed nearly 2,000 parking space sensors. The sensors, which are located in each of the facility’s parking spaces, record whether a space is occupied, forwarding that information to illuminated signs and the Pentagon Row mobile parking app which direct parkers to the closest available spaces to their final shopping destination.

New York -- Ron Johnson is reportedly stepping back into the public arena. The former J.C. Penney chief (and, before that, Apple retail head) is about to launch a “high-end, on-demand delivery service” for electronic devices, according to The Information. The report described the service as "Best Buy's Geek Squad meets Apple's Genius Bar."