Tipsheet: Buffett Passed on Tiffany | WaPo Hits Amazon | Returns Day +26%
Amazon threatens to fire critics who are outspoken on its environmental policies by Jay Greene at Washington Post. “An email sent to Maren Costa, a principal user-experience designer at the company, and reviewed by The Post warned that future infractions could “result in formal corrective action, up to and including termination of your employment with Amazon.” Tiered subs.
Hudson Bay, owner of Saks, up 17 percent on deal reports by Lisa Fickenscher at NY Post. “A deal that would allow the company to go private is expected to be reached this week, according to WWD, a fashion trade publication that first reported the talks.” Read more
Warren Buffett reportedly passed on buying Tiffany at CNBC. “The jeweler approached Buffett after receiving a takeover bid from LVMH, but the Oracle of Omaha — who previously bought $250 million worth of the company’s bonds in 2009 — declined, according to people with knowledge of the matter. Buffett confirmed to the Financial Times that the conversation took place.” Read more
Amazon is opening a homeless shelter – inside its HQ by Aria Bendix at Business Insider. “When the shelter opens, it will have the capacity to serve 275 people each night. That’s a small portion of the local homeless population — about 12,500 people in King County, where Seattle is located — but it’s expected to be the largest family shelter in Washington state.” Read more
India’s richest man is ready to take on Amazon and Flipkart by Manish Singh at TechCrunch. “If there is anyone in India who is positioned to compete with heavily backed Amazon and Walmart, it’s Ambani. Reliance Retail, which was founded in 2006, is the largest retailer in the country by revenue. It serves more than 3.5 million customers each week through its nearly 10,000 physical stores in more than 6,500 Indian cities and towns.” Read more
ILLINOIS: The first day of recreational marijuana sales featured long lines, some glitches — and mostly happy customers at Chicago Tribune. “The Collinsville location, which is drawing customers from the St. Louis area, had served nearly 600 people by 11 a.m., Stone said. “We’re the only dispensary for adult-use within 80 miles,” he said. The shops gave out doughnuts and coffee, and is planning to give pizza to people waiting in line for lunch.” Tiered subs.
ONTARIO: ‘There’s just no money coming in’: Cannabis sector bracing for wave of insolvencies in 2020 at Financial Post. “There are currently more than 200 cannabis companies either in the cultivation, processing or extraction businesses…Although cannabis sales have been increasing on a monthly basis since legalization in October 2018, inventory has been growing much more quickly, resulting in oversupply and declining prices.” Read more
Today is ‘National Returns Day’ and UPS anticipates nearly 2 million unwanted gifts to ship at CNBC. “United Parcel Service on Thursday expects to ship 1.9 million gifts and other items back to U.S. retailers as e-commerce fuels an anticipated 26% year-over-year volume surge on “National Returns Day.” Read more
CHARLOTTE: Should malls have curfews? Debate arises after girl shot, killed at Concord Mills at Charlotte Observer. “Following the shooting death of a 13-year-old girl at Concord Mills mall Saturday, Charlotte area residents are debating whether malls should require teens to have adult supervision…In March, a man was shot and suffered non-life threatening injuries 15 minutes into the “Us” movie …In September 2017, the mall was evacuated after a melee erupted among what police said was a large group of juveniles and young adults.” Tiered subs.
Walmart eCommerce exec named CEO of Michaels at Talk Business. “In an email from Marc Lore, President and CEO of Walmart eCommerce U.S., to employees obtained by Talk Business & Politics, Lore said he “appreciated” Buchanan’s skills and contributions. “It is with mixed emotions that I’m letting you know Ashley Buchanan, will be leaving the company effective Jan. 3, to become President and CEO of Michaels…” Read more
Trump suggests some flavored vapes may be pulled from market at AP. “The Wall Street Journal reported Tuesday that the Food and Drug Administration would ban the sale of most flavored e-cigarettes…Trump suggested a ban of flavored e-cigarettes might be temporary. “Hopefully, if everything’s safe, they’re going to be going very quickly back onto the market.” Read more
No one is ready for California’s new consumer privacy law by Kim Lyons at The Verge. “The crux of the CCPA is this: if your company buys or sells data on at least 50,000 California residents each year, you have to disclose to those residents what you’re doing with the data, and, they can request you not sell it.” Read more
…Walmart, Target Rush to Comply With New Privacy Law at Progressive Grocer. “A Walmart source told Reuters that the Bentonville, Ark.-based company is “working through a lot of ambiguities in the law, for example, the language around loyalty programs and if retail companies can offer them going forward.”…Target spokeswoman Jessica Carlson told Reuters that a “Do Not Sell” button on its website will be visible to all U.S. shoppers, and that California residents will have access to information outlined under the new law.” Read more
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