See all Business
16 Jan, 2016

Closing 269 stores

Walmart announces plans to close 269 stores. 154 of these stores are in the US, and will affect 16,000 workers. Closures will begin at the end of January. 102 of the 154 stores to be closed in the US are part of an experimental set of offerings opened in 2011 and are within 10 miles of another Wal-Mart. Efforts will employ the affected workers at other locations. Other locations to be closed include locations in Brazil, where the retailer is struggling.

24 Jul, 2015

U.S. factory shutdown

Mitsubishi will shut down its only factory in the U.S., in Normal, Illinois, about 100 miles southwest of Chicago, on November 30, so that it can focus on production in Asian markets. The company hopes that it can find a buyer that will continue to employ all the 1,200 workers already working there. Officials maintain that the factory is closing because of dramatically falling sales and not labor issues. Illinois state Sen. Brady says Mitsubishi officials have assured him that:

[Mitsubishi’s effort to sell the plant] will not be about getting top dollar for the sale but about doing the right thing. We are going to do everything we can to make sure people know that Mitsubishi no longer needs the facility, but that this is a facility that has a very efficient, world-class workforce and a supplier network that’s second to none.

22 Jul, 2015


After 25 years, Bocci’s goes out of business. The spaghetti shop recently had mediocre reviews on Yelp; most customers rating it two stars or lower. Representatives of ownership group CFC of Charleston could not be reached for immediate comment. An outgoing message on Bocci’s voicemail thanks customers for their past patronage. According to a former employee, staffers were notified last night of the impending closure.


18 May, 2015

Waco franchise agreement revoked

Corporate officials for the chain restaurant say they are revoking its franchise agreement.

We are in the people business, and the safety of the employees and guests in our restaurants is priority one. Unfortunately, the management team of the franchised restaurant in Waco chose to ignore the warnings and advice from both the police and our company, and did not uphold the high security standards we have in place to ensure everyone is safe at our restaurants. We will not tolerate the actions of this relatively new franchisee and are revoking their franchise agreement immediately. Our sympathies continue to be with the families of those who died and are very thankful on employees, guests, police officers of bystanders were hurt or injured.

3 Mar, 2015

Closes Harpo Studios

Winfrey is closing Harpo Sudios in Chicago. All company business is transitioning into the OWN headquarters in Los Angeles.

[Chicago has] been everything for me. I’ve spent more hours in this building than I have any other building on Earth. … We were here when there was nothing but hoes and rats on the street, and now it’s one of the hottest neighborhoods [in Chicago]. The time had come to downsize this part of the business and to move forward. It will be sad to say goodbye, but I look ahead with such a knowing that what the future holds is even more than I can see.

29 Aug, 2014

More restaurants closed

Russian authorities close eight additional restaurants, bringing the total number of closed restaurants to twelve. The official reason for the closings is a concern for food safety, although many believe that they are politically motivated, related to the situation in Crimea and American sanctions against Russia. Company officials are looking into the concerns Russian officials have about their restaurants, and are working to reopen them as soon as possible:

Our main priority is to serve our customers with top-quality menu items

25 Feb, 2014

Exchange goes offline

The Mt. Gox website goes offline with no explanation. The Company’s Tokyo office is empty and a handful of protesters remain outside. Karpeles tells Reuters in an email:

We should have an official announcement ready soon-ish. We are currently at a turning point for the business. I can’t tell much more for now as this also involves other parties.

1 Jan, 2008

DATA and ONE combine operations

Bono’s charitable human rights organizations ONE and DATA combine operations to continue under the ONE name.  Bono lobbies U.S. Presidents and Congressional leaders, along with the heads of many other G8 nations, in ONE’s name.