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Jun 23, 2014

American Apparel board rejects demand to meet Charney: source

By Nadia Damouni and Jeffrey Dastin

(Reuters) – The independent directors of maverick retailer American Apparel Inc have rejected a demand to meet and reinstate ousted CEO Dov Charney on Monday, a source close to the matter said.

The board last week stripped Charney of his titles of chief executive, chairman and president. Initially known for insisting on manufacturing clothing in the United States, Charney eventually became notorious for conduct like attending meetings in his underwear.

Jun 21, 2014

Exclusive: American Apparel finds CEO misused funds; helped discredit employee – source

NEW YORK (Reuters) – An internal investigation at American Apparel Inc has found that its CEO Dov Charney violated company policies, ranging from misusing company funds to failing to stop the discrediting of at least one former employee who had accused him of sexual harassment, a person close to the matter said.

The company’s board ousted the 45-year-old Charney as chairman on Wednesday, citing unspecified allegations of misconduct. It suspended him as president and chief executive officer, and plans to fire him for cause, following a 30-day period stipulated in his contract.

Jun 17, 2014

Exclusive: SoftBank Capital invests in Kony; move will boost Kony’s Asia presence

NEW YORK (Reuters) – The venture capital arm of Japan’s SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz) is investing in enterprise mobile company Kony Inc, Kony said in a statement on Tuesday.

SoftBank Capital will lead the $50 million financing round, Kony’s largest to date, with existing and new investors including Insight Venture Partners, Telstra Ventures and Georgian Partners.Founded by Raj Koneru in 2007, Kony generates nearly $100 million of revenue and is on the path to an initial public offering, a source close to the company said on condition of anonymity because the discussions were private.

Jun 17, 2014

SoftBank Capital invests in Kony; move will boost Kony’s Asia presence

NEW YORK, June 17 (Reuters) – The venture capital arm of
Japan’s SoftBank Corp is investing in enterprise mobile
company Kony Inc, Kony said in a statement on Tuesday.

SoftBank Capital will lead the $50 million financing round,
Kony’s largest to date, with existing and new investors
including Insight Venture Partners, Telstra Ventures and
Georgian Partners.

Jun 17, 2014

Exclusive: SoftBank Capital closes in on financing round with Kony – sources

NEW YORK (Reuters) – SoftBank Corp’s venture capital arm is close to securing an investment in enterprise mobile company Kony Inc, and could announce a deal as soon as Tuesday, people close to the matter said.

SoftBank Capital is expected to lead the $50 million financing round, Kony’s largest to date, with a group of existing and new investors including Insight Venture Partners, Telstra Ventures and Georgian Partners, the sources told Reuters.

Jun 17, 2014

SoftBank Capital closes in on financing round with Kony: sources

NEW YORK (Reuters) – SoftBank Corp’s (9984.T: Quote, Profile, Research, Stock Buzz) venture capital arm is close to securing an investment in enterprise mobile company Kony Inc, and could announce a deal as soon as Tuesday, people close to the matter said.

SoftBank Capital is expected to lead the $50 million financing round, Kony’s largest to date, with a group of existing and new investors including Insight Venture Partners, Telstra Ventures and Georgian Partners, the sources told Reuters.

Jun 6, 2014

Exclusive – Sears’ Lampert met Ford’s Mulally for turnaround advice

NEW YORK (Reuters) – Sears Holdings Corp’s controlling shareholder Eddie Lampert met with Ford Motor Co CEO Alan Mulally earlier this year to seek advice on how to turn around the ailing retailer, two sources familiar with the matter said.

One of the sources said that Mulally, who is due to retire from Ford in July, was left with the impression that Lampert was gauging whether Mulally might be open to the possibility of becoming Sears’ next CEO. The second source said Lampert, who is currently Sears’ chairman and CEO, did not offer Mulally a job and there is no search process underway for a new CEO.

Jun 6, 2014

Sears’ Lampert met Ford’s Mulally for turnaround advice

NEW YORK, June 6 (Reuters) – Sears Holdings Corp’s
controlling shareholder Eddie Lampert met with Ford Motor Co
CEO Alan Mulally earlier this year to seek advice on how
to turn around the ailing retailer, two sources familiar with
the matter said.

One of the sources said that Mulally, who is due to retire
from Ford in July, was left with the impression that Lampert was
gauging whether Mulally might be open to the possibility of
becoming Sears’ next CEO. The second source said Lampert, who is
currently Sears’ chairman and CEO, did not offer Mulally a job
and there is no search process underway for a new CEO.

Jun 6, 2014

Exclusive: Sears’ Lampert met Ford’s Mulally for restructuring advice

NEW YORK (Reuters) – Sears Holdings Corp’s controlling shareholder Eddie Lampert met with Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) CEO Alan Mulally earlier this year to seek advice on how to turn around the ailing retailer, two sources familiar with the matter said.

One of the sources said that Mulally, who is due to retire from Ford in July, was left with the impression that Lampert was gauging whether Mulally might be open to the possibility of becoming Sears’ next CEO. The second source said Lampert, who is currently Sears’ chairman and CEO, did not offer Mulally a job and there is no search process underway for a new CEO.

Jun 6, 2014

Sears’ Lampert met Ford’s Mulally for restructuring advice

NEW YORK, June 6 (Reuters) – Sears Holdings Corp’s
controlling shareholder Eddie Lampert met with Ford Motor Co
CEO Alan Mulally earlier this year to seek advice on how
to turn around the ailing retailer, two sources familiar with
the matter said.

One of the sources said that Mulally, who is due to retire
from Ford in July, was left with the impression that Lampert was
gauging whether Mulally might be open to the possibility of
becoming Sears’ next CEO. The second source said Lampert, who is
currently Sears’ chairman and CEO, did not offer Mulally a job
and there is no search process underway for a new CEO.