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Legislative, Regulatory & Legal

  • Closeout veteran named CEO at Tuesday Morning

    Leading closeout retailer Tuesday Morning named Brady Churches as CEO three months after the departure of former CEO Kathleen Mason.

    According to the operator of 850 stores, the board was searching for what it called a "master merchandiser," and believed Churches’ track record of merchandising excellence, combined with his high-energy, entrepreneurial mindset would serve Tuesday Morning very well.

  • Best Buy and Schulze in due diligence deal

    Minneapolis -- Best Buy Co. announced Monday that it as agreed to let founder and former chairman Richard Schulze conduct due diligence and form an investment group with private equity sponsors as he tries to take the retailer private.

    Best Buy said its agreement with Schulze establishes a non-exclusive, orderly process that satisfies his requests and protects the interests of shareholders.

  • Best Buy reportedly reaches out to Schulze to resume talks

    Minneapolis -- A Thursday report by Bloomberg, citing unnamed sources, said that Best Buy Co. has rekindled its talks with co-founder Richard Schulze about an agreement that would allow Schulze to launch due-diligence efforts toward his proposed acquisition of the company.

    Best Buy reportedly reached out to Schulze shortly after announcing quarterly earnings on Aug. 21 that missed Wall Street estimates, according to one of the unidentified sources, who also said that both parties could reach an agreement later this week.

  • Receivership Sales: How Lenders Can Protect Their Security and Minimize Liability

    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.

  • RILA announces opposition to ‘flawed’ proposed swipe fee settlement

    Arlington, Va. -- The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.

  • RILA opposed to ‘flawed’ proposed swipe fee settlement

    ARLINGTON, Va. — The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.

  • Report: Rona dealers critical of Lowe’s offer

    New York -- A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.

    The letter, which was addressed to Lowe's CEO Robert Niblock, was signed by merchants that operate 164 affiliate or franchise Rona stores.

  • Top five states with highest combined state and local sales taxes

    New York -- California and Indiana have the highest statewide sales taxes in the country, but Tennessee and Arizona take top billing when local sales taxes are added to the calculation, according to a new analysis by the Tax Foundation, a Washington, D.C.-based think tank that monitors fiscal policy at the federal, state and local levels.

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