Legislative, Regulatory & Legal

Washington, D.C. - A broad-based group of organizations including large and small employers, pharmacy benefit managers, providers, health benefits advisers and health plans from across the country have launched the Affordable Health Benefits Coalition (AHBC). The Coalition’s main priority is advancing policy ideas that it says will help people obtain more affordable health coverage.

Changes to California’s Title 24 tighten building energy-efficiency standards

California leads the nation in efforts to conserve energy, and it shows no sign of slowing down anytime soon. Changes to the state’s mandatory Title 24 Building Energy Efficiency standards — changes that will make commercial buildings 30% more efficient than the previous 2008 standards — are scheduled to take effect Jan. 1, 2014.

Hingham, Mass. – Building #19, a closeout retailer with 10 stores in Massachusetts and New Hampshire, is reportedly planning a giant closeout sale of its own. According to the Boston Business Journal, Building #19 filed for Chapter 11 bankruptcy on Nov. 1 and requested permission to obtain the services of liquidation sale specialist Gordon Brothers.

Fort Walton Beach, Fla. -- Edwin Watts Golf Shops on Monday filed for Chapter 11 bankruptcy protection in Delaware, with the intention of selling the operating assets of the business.  

The company, owned by private equity firm Sun Capital Partners, listed estimated liabilities and assets of $100 million to $500 million.

The U.S. Federal Trade Commission has given Office Max and Office Depot clearance to proceed with their proposed merger. The companies anticipate completing the transaction after market close on Nov. 5, subject to the satisfaction of remaining closing conditions.

Naperville, Ill. -- The U.S. Federal Trade Commission has approved the merger of Office Max Inc. and Office Depot, the retailers said in a joint statement on Friday. The companies anticipate completing the transaction after market close on November 5, 2013.  

New York -- The attorney general of the state of New York is investigating Macy's and Barneys following complaints from black customers that they were stopped by police after making expensive luxury purchases, according to the New York Daily News. The local New York media has dubbed the practice “shop-and-frisk.”

New York -- Chinos Intermediate Holdings A, Inc., the indirect parent company of J. Crew Group, Inc., intends to issue $500 million of senior PIK toggle notes due 2019. The notes will be offered and will be sold in a private placement to qualified institutional buyers in the U.S, pursuant to Rule 144A under the Securities Act of 1933, as amended, and to non-U.S. persons in transactions outside the U.S. pursuant to Regulation S under the Securities Act.