Staples, Office Depot comply with FTC's second request for information regarding acquisition Staples and Office Depot announced Friday afternoon that they have reached "substantial compliance" with the Federal Trade Commission's second request for information regarding the companies' $6.3 billion deal.
The FTC made the request for additional documents and information in March, but details about what it asked for were not revealed. The anti-trust agency must approve the acquisition before it can close.
Staples also announced that it has agreed not to close its deal to buy Boca Raton-based…
Fri, 28 Aug 2015 21:48:56 +0000 Clorox makes it easier for big investors to nominate directors Clorox said Friday that it will make it easier for its large, long-time shareholders to nominate directors for up to 20 percent of the board.
The move, which came at the urging of an unidentified Clorox stockholder, is seen as shareholder-friendly.
The not-so-fine print: Investors holding at least 3 percent of the company's shares, who have held their stake continously for three or more years, can nominate up to 20 percent of the board. Up to 20 shareholders can aggregate their holdings to reach…
Fri, 28 Aug 2015 21:48:18 +0000 Support for $15 state minimum wage gives huge boost to organized labor Sixty-eight percent of California voters said they support the idea of a $15 minimum wage, according to a Field Poll released Thursday.
Labor activists spearheading a $15 minimum wage voter initiative said they were unsurprised by the results of the poll and are confident that they can collect the necessary signatures to place the measure on the 2016 ballot.
Minimum wage is “a straightforward message that people can understand” at a time when prices are rising for food, clothing and gas, said…
Fri, 28 Aug 2015 21:47:52 +0000 SBA agrees to $6M settlement with shuttered EDF Resource Capital A Folsom real estate lender who was shut down by the Small Business Administration in 2012 has agreed to a $6 million settlement of all claims.
Frank Dinsmore, founder and CEO of EDF Resource Capital, agreed Thursday to resolve all allegations against him and the company by the SBA in return for payments and assets worth about $6 million.
Resource Capital for many years in the 1990s and 2000s was among the top lenders making SBA 504 real estate loans.
The SBA in mid-December 2012 seized the loan…
Fri, 28 Aug 2015 21:45:04 +0000 Love a parade? A peek as Charles Aris moves toward opening of headquarters (PHOTOS) You've heard of an afternoon stroll. You've heard of walking the dog. But what about walking your office chair?
Charles Aris Inc. employees did just that Friday, parading their office chairs from 300 N. Greene St. to the new headquarters at 301 Battleground Ave.
The executive search firm, which has been named one of the Triad's 50 fastest-growing private companies in recent years, will call the three-story, 24,000-square-foot building near the intersection of North Greene and Bellemeade streets…
Fri, 28 Aug 2015 21:43:22 +0000 L.A.'s Olympic Village plans raise eyebrows As a City Council committee gathered on Friday to discuss Los Angeles’ bid to host the 2024 Summer Olympics, city analysts have questioned the city’s plans to house 17,000 athletes during the event.
The nonprofit exploratory committee’s bid includes plans to build the Olympic Village near the Los Angeles River on a site that currently serves as a transportation center for Union Pacific Corporation. However, according to a report issued yesterday, “Union Pacific has indicated that, although…
Fri, 28 Aug 2015 21:43:21 +0000 Zillow vs. Redfin: Is San Francisco's housing market heating or cooling? The outlook for the Bay Area housing market is a hot topic these days.
Zillow drew notice earlier this week with its latest figures that show the national pace of housing appreciation has turned negative for the first time in four years and even dared to say that the white-hot San Francisco market is cooling.
In response, Redfin contends that San Francisco's residential real estate is hotter than ever.
So who's right?
Zillow Chief Economist Svenja Gudell told me Friday that she doesn't take issue…
Fri, 28 Aug 2015 21:42:42 +0000 Alpha Marine wins $7 million contract to supply tugs to Mayport and Kings Bay Alpha Marine Services of Galliano, Louisiana, has won a $7 million defense contract for the charter of six tractor-like tugs in support of the navy bases at Kings Bay, Georgia, and Mayport.
The contract includes three 12-month options and one 11-month option that, if exercised, would raise the total value of the contract to $36 million.
The work is expected to be completed by July 2020.
The Military Sealift Command, Washington, D.C., awarded the contract. It sought bids through the Federal Business…
Fri, 28 Aug 2015 21:42:26 +0000
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