Attention JC Penney Shoppers, Look Out for the Return of ‘Sales Galore’
After months of abysmal sales tallies, the Ron Johnson era is over at JC Penney. Now that Johnson’s “fair and square” no-coupons pricing policies have proved to be a failure, the department store will have to try something else to win back customers and stop the bleeding. But what? Mike Ullman, who was replaced as CEO when Johnson took over at JC Penney in 2011, and who began serving again as top executive when Johnson was pushed out, told the Wall Street Journal that he wasn’t planning on reverting to the old business model. “I wouldn’t recommend that we go back to the way J.C. Penney was when I left,” he said. “Things change.” And yet, in some ways the department store is clearly trying to resemble the JC Penney of old. Management has already announced that newspaper ads will feature coupons once again. Johnson seemed to find coupon usage distasteful and silly, likening it to a drug that consumers needed to be weaned off. A little over a year after JC Penney went “drug-free,” ...
Online ‘Predictions’ Market Intrade Shuts Down Months After Federal Lawsuit
Intrade, the popular Ireland-based betting website that allowed people to wager on everything from political elections to the Oscars, announced Sunday that it is completely shutting down. Intrade has long been under pressure from U.S. regulators, and last November, the Commodity Futures Trading Commission sued the website for operating an improper, off-site options exchange. Intrade promptly banned U.S.-based traders — which made up the bulk of its users — from placing bets on the site. It’s unclear what the proximate cause was for Sunday’s abrupt shutdown, but the site’s operators said they are doing “all we can to resume operations as promptly as possible.” Intrade allowed users to take positions (or contracts) predicting the outcome of future events, much as options traders bet that the price of a commodity like orange juice or pork bellies will rise or fall. The website then aggregated the various contracts to generate the probability that a future event — like the winner ...
United States: Federal Court Halts Apple Shareholder Vote - Holland & Knight
On February 22, 2013, the U.S. District Court for the Southern District of New York ruled in favor of Greenlight Capital, L.P., et al. ("Greenlight") in the matter of Greenlight Capital, L.P., et al v. Apple, Inc.
Found more than 1 month ago on channel Mondaq
Court chops Samsung's $1B award to Apple
Federal judge lowers damages owed to tech giant over patent violations by more than $450 million
Found more than 1 month ago on channel CBS
Free Federal Wireless Broadband For All Americans? Fuggedaboutit!
The United States government is not going to be providing free WiFi Internet access to consumers anytime soon. That news may surprise anyone who read a startling Washington Post story on Sunday that seemed to confuse a fairly esoteric telecom policy proposal about the use of so-called “white space” wireless spectrum with some sort of free national wireless Internet access plan. The “free WiFi for all” story, which was passed around uncritically by Internet blogs and news sites, set off a furor because the notion cuts to the heart of ongoing battles over access to the Internet, the “digital divide,” and federal policy decisions that could have major implications for the telecom, cable, and technology industries. But the story was wrong, as Ars Technica pointed out. On Tuesday, outlets that repeated the bunk story began walking their reports back, in some cases apologizing for giving bad information to the public. The episode, which provoked a strong pushback from tech ...