Tipsheet: Roz +$25M Bonus | Kroger’s Had It | Amazon Withheld Tips
New Walgreens CEO to get nearly $25 million signing bonus at Chicago Tribune. “Brewer will receive a one-time cash bonus of $4.5 million, which is subject to repayment if she leaves without “good reason” or is terminated for cause within two years, the filing said. The signing bonus includes a $20.2 million long-term incentive award in Walgreens stock that will fully vest in three years. In addition to her $1.5 million base salary, Brewer will be eligible for an annual performance bonus of up to 200% of her eligible earnings, according to the SEC filing.” Read more
Amazon Unveils Outdoorsy New HQ2 at Wall Street Journal. “Phase two of the company’s development in Arlington, Va., calls for three 22-story office buildings and smaller retail buildings surrounded by woodlands, an outdoor amphitheater, a dog run and parking for around 950 bicycles. The centerpiece will be the site’s fourth and tallest tower, a 350-foot structure dubbed the Helix because it will feature two spiraling outdoor walkways with trees and plants from Virginia that twist to the building’s top.” WSJ subs.
…Amazon unveils design for ‘Helix’ office building at HQ2 — here’s what it will look like at CNBC. Pics/Read more
Britain is cracking down on the $3.7 billion ‘buy now, pay later’ industry at CNBC. “Such firms will be required to conduct affordability checks before lending to customers, the government said, while people will also be allowed to escalate complaints to the U.K.’s financial ombudsman.” Read more
Impossible Foods cuts faux meat prices by 20% at grocery stores at Reuters. “The suggested retail prices for Impossible Burger would drop to $5.49 in about 17,000 U.S. grocery stores, the company said in a statement…” Read more
Online shopping surge delivers record revenue for UPS at AP. “Revenue rose 21% to $24.9 billion in the three months ending Dec. 31, a record for the company…However, it posted a loss of $3.26 billion.” Read more
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Kroger says it must close two Long Beach stores due to hazard pay ordinance at LA Times. “This misguided action by the Long Beach City Council oversteps the traditional bargaining process and applies to some, but not all, grocery workers in the city,” Kroger said in a statement. “The irreparable harm that will come to employees and local citizens as a direct result of the City of Long Beach’s attempt to pick winners and losers, is deeply unfortunate…” Read more
Amazon will pay $61.7 million to settle claims it withheld tips from delivery workers at CNBC. “Rather than passing along 100% of customers’ tips to drivers, as it had promised to do, Amazon used the money itself,” said Daniel Kaufman, acting director of the FTC’s Bureau of Consumer Protection, in a statement. “Our action today returns to drivers the tens of millions of dollars in tips that Amazon misappropriated, and requires Amazon to get drivers’ permission before changing its treatment of tips in the future.” Read more
Home Depot Bringing 1,500 New Jobs to Dallas-Fort Worth Metro with New Distribution Center “The 1.5 million square-foot distribution center is designed to meet customers’ delivery needs through multiple channels, whether delivering items directly to customers’ homes or for pickup at local stores.” Press release
Forbes Blockchain 50: Corporate America Cashes In On Bitcoin Mania at Forbes. “Bitcoin is suddenly getting respect in the C-suite. Here’s how PayPal, Square and the 48 other big companies on Forbes’ third annual Blockchain 50 are outpacing their competition using Bitcoin and the underlying blockchain.” Read more
Uber to buy Drizly on-demand alcohol company for $1.1 billion at MarketWatch. Read more
Alibaba beats quarterly revenue estimates at Reuters. “Revenue rose 37% to 221.08 billion yuan ($34.24 billion) in the three months ended Dec. 31, above estimates of 214.38 billion yuan, according IBES data from Refinitiv.” Read more
Tipsheet Extra
Playboy nears deal to acquire wellness chain
McDonald’s quietly rolls out McPlant burger in test markets
Meijer own brand hand weights lift category in unprecedented time
Ghost kitchens and delivery-only restaurants may be too popular for their own good
Sens. Booker, Schumer, and Wyden will advance cannabis legislation
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