PetSmart, the retail chain with locations in Michigan and around the country, announced on Aug. 19 that it would consider selling itself to placate pressure from investors. Longview Asset Management and Jana Partners, which own a combined 19 percent stake in the company, have been leading the call for a sale. PetSmart has said that it plans to cut costs and will realize the savings in the next fiscal year. The amount of the cuts and where the savings would come from were not disclosed.
Michigan businesses may be interested in a look at the successes and failures of one Silicon Valley company's acquisition strategy. With billions of dollars available to purchase other companies, experts are speculating on what they will acquire next.
The Equal Employment Opportunity Commission has filed suit against grocery chain Food Lion in the U.S. District Court for the Middle District of North Carolina. The suit, filed Aug. 20, claims that Food Lion failed to provide a reasonable accommodation for a Jehovah's Witness minister when it fired him for being unable to work on Sundays.
After a national security review, IBM has been cleared to sell its low-end server unit to Lenovo for $2.3 billion. The security review was necessitated due to tensions between America and China where Lenovo is based. Although the Committee on Foreign Investment in the U.S. put some conditions on the deal, they do nothing to change its terms.
Business law exists in Michigan and across the nation to protect a company's interests and their rights. Companies often enter business agreements with other parties for their mutual benefit. While these generally go smoothly, problems can occur.
A small business said its credit card processing company discriminated against it because of an apparent mistaken assumption. The processing company allegedly believed the Kalamazoo business owner was practicing voodoo.
Small business owners who are thinking about doing a background check on a prospective employee need to know whether they are conducting such a check legally. This is because the Fair Credit Reporting Act requires that any agency that reports information about an employee must do so in compliance with the law. These laws must be followed by a reporting agency even if the information being reported could be found in records already made public.
As Michigan business owners manage the affairs of their companies, they may not think about the need to revise their business plans at various intervals. However, good business planning at the outset is not of much use if that plan is not revisited to measure success or to determine areas that may require adjustment. A business plan may be considered a living document, meaning that it is important to make such a review from time to time to ensure that the document is relevant and current.
Michigan residents who enjoy the hit television series 'The Big Bang Theory" may be interested to learn that the cast and the CBS network are involved in a labor dispute. The eighth season of the show is scheduled to air in September 2014, but production has stopped as negotiations between cast representatives and network executives over new contracts take place.