Category: Sales Management

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The Securities and Exchange Commission is reportedly investigating the circumstances around Kodak’s announcement last week of a $765 million government loan to manufacture pharmaceutical ingredients—a deal that sent the legacy camera firm’s soaring.

While the agency’s probe is at an early stage, the Wall Street Journal reports that the SEC is looking into Kodak’s disclosure of the loan, which began to leak on Monday, July 27—one day before the official announcement that prompted a massive spike in the company’s theretofore struggling stock price.

But Kodak’s trading volumes and share price were already on the rise before the announcement was made, a dynamic seemingly tied to leaks disseminated by local news outlets in the company’s hometown of Rochester, N.Y. The SEC is said to be scrutinizing Kodak’s handling … Read the rest

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Dwayne “The Rock” Johnson will buy the assets of the bankrupt professional football league XFL as part of a group bid with his business partner Dany Garcia and Gerry Cardinale’s RedBird Capital Partners.

The group is paying $15 million for substantially all of the assets of Alpha Entertainment LLC, the parent company of the XFL, according to a statement Monday.

Johnson and Garcia were looking at buying the XFL at the same time as Cardinale, with the two groups then deciding to join together to complete the purchase, Garcia said in an interview Monday morning. Garcia and Johnson were previously married.

“We were simultaneously all examining the property deeply,” said Garcia, who was a big fan of the XFL in its 2020 season and called Johnson when she saw the opportunity to buy it. “We were two groups who could see the magic of this league.”

Cardinale is a former … Read the rest

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Last month, Candace Valenzuela won her Democratic primary runoff for Texas’s 24th district. And the potential impact of that victory goes beyond her Dallas-Forth Worth area constituents: If she wins the general election in November, Valenzuela will become the first Afro-Latina in Congress.

It’s a milestone that could be achieved twice over this year. Ritchie Torres, the Democratic candidate from New York’s 15th district, who’s all but certain to head to Congress in the fall, would be the first Afro-Latino to serve in the institution upon his swearing in.

Torres brought attention the significance of his likely election with an op-ed that exposed some outdated rules within Congress. Torres wrote that, based on current restrictions, he would not be allowed to join both the Congressional Black Caucus … Read the rest

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Apple is a world leader in both design and digital payments, but you wouldn’t know it from the clumsy website where millions of iPhone users must go to claim compensation over a battery defect. The website and the process for notifying customers about the iPhone settlement is awkward and ineffective—in short, very un-Apple like. The situation is frustrating many iPhone owners and could also bring new scrutiny of a class action process that critics’ say shortchanges consumers.

The Apple class action in question is over what the tech press has dubbed “battery-gate.” It alleges that Apple manipulated its software in ways that caused the battery of certain iPhones to suddenly drain or make the phone sluggish, prompting some users to desire a new purchase.

Following … Read the rest

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Congress has yet to come to an agreement for extending or replacing the $600 weekly federal unemployment benefit, which paid its final benefit for the week ending July 25.

That means the 30.5 million jobless Americans who were receiving the benefit will go their first week without the $600 check.

“On certain issues we made progress, on certain issues we’re still very far apart,” treasury secretary Steven Mnuchin told reporters on Capitol Hill after leaving a meeting with Democratic leaders on Friday without a deal or short-term fix.

On Monday, Senate Republicans rolled out their stimulus bill, which included reducing the federal unemployment benefit bonus—which is paid on top of state benefits—from $600 to $200 per week for the next two months. After … Read the rest

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