Macy’s CEO: ‘Shocked … Sick to My Stomach’ After Betrayal by Former ‘Friend’ Martha Stewart
You’d think that a contract dispute over department store merchandise exclusivity would be a “strictly business” type of affair. But the Macy’s-JCPenney-Martha Stewart squabble has quickly gotten personal, even reminiscent of high school—with accusations of backstabbing, betrayal, and months of deception among executives who once considered themselves “friends.” At the heart of the dispute is Martha Stewart, the “devious diva,” in New York Post parlance, whose company, Martha Stewart Living, has had a merchandising contract with Macy’s since 2006. In early December 2011, however, Stewart told Macy’s CEO Terry Lundgren over the phone that hundreds of Martha Stewart boutique stores would soon be opening inside JCPenney locations around the country. “I was completely shocked and blown away,” upon hearing the news, Lundgren testified this week in court, in a trial in which Macy’s is suing both JCPenney and Stewart’s company. “I was literally sick to my stomach.” ...
Jerry Yang Joins Lenovo Board as 'Observer'
Jerry Yang, who co-founded Yahoo and resigned last year from the Internet company's board, has landed a plum position with Chinese computer maker Lenovo, making nearly $200,000 in equity and cash.
Yahoo co-founder Jerry Yang joins Lenovo board as observer
HONG KONG - Lenovo Group said Yahoo! co-founder Jerry Yang is to join its board as an observer, as the world's No. 2 maker of PCs expands its mobile business to tap global demand for smartphones and tablets.
Found more than 1 month ago on channel Reuters