Nathan's Feed
Aug 28, 2015

Unions set sights on e-commerce and manufacturing firms after NLRB ruling

By Nathan Layne and Mica Rosenberg

(Reuters) – U.S. union leaders said on Friday that a landmark U.S. labor board ruling on companies’ obligations toward contract and franchise workers would help them organize manufacturers and e-commerce companies as well as fast food chains.

On Thursday the National Labor Relations Board (NLRB) ruled the owner of a California recycling plant was a “joint employer” with the contractor that hired workers at the plant, essentially forcing both to bargain with the union together or risk violating U.S. labor law.

Aug 28, 2015

Big labor sees organizing boon for autos, warehouses, more from U.S. ruling

Aug 28 (Reuters) – U.S. union leaders said on Friday that a
landmark U.S. labor board ruling on companies’ obligations
toward contract and franchise workers would help them organize
manufacturers and e-commerce companies as well as fast food
chains.

On Thursday the National Labor Relations Board (NLRB) ruled
the owner of a California recycling plant was a “joint employer”
with the contractor that hired workers at the plant, essentially
forcing both to bargain with the union together.

Aug 26, 2015

Wal-Mart to stop selling AR-15, other semi-automatic rifles

By Nathan Layne

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz), the United States’ top seller of guns and ammunition, said on Wednesday it would stop selling the AR-15 and other semi-automatic rifles stores because of sluggish demand and focus instead on “hunting and sportsman firearms”.

Company spokesman Kory Lundberg said the decision was not related to high-profile incidents involving the rifles, including the school shooting in Newtown, Connecticut, in 2012.

Aug 25, 2015

Sears looks to boost Kenmore and Craftsman brands with new hire

By Nathan Layne

(Reuters) – Sears Holdings Corp (SHLD.O: Quote, Profile, Research, Stock Buzz) named a former Johnson & Johnson (JNJ.N: Quote, Profile, Research, Stock Buzz) executive to a new position as president of “hardlines” as the struggling retailer tries to stem the declining market positions of the Kenmore, Diehard and Craftsman brands.

The new executive, Lynn Pendergrass, previously held senior positions at Johnson & Johnson, Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz) and General Electric Co (GE.N: Quote, Profile, Research, Stock Buzz), Sears said in a statement on Monday.

Aug 24, 2015

Insight – In Toshiba scandal, the ‘tough as nails’ target setter

TOKYO (Reuters) – Tom Scott, a former U.S. executive at Toshiba Corp, remembers his former boss Atsutoshi Nishida as an aggressive leader who could motivate staff but also rattle them with tough sales targets and an occasional dressing down.   

“He gave me goals that scared the hell out of me,” Scott told Reuters after Nishida resigned as an adviser to Toshiba, along with two other former chief executives in the wake of a $1.2 billion accounting scandal.   

Aug 24, 2015

In Toshiba scandal, the ‘tough as nails’ target setter

TOKYO, Aug 25 (Reuters) – Tom Scott, a former U.S. executive
at Toshiba Corp, remembers his former boss Atsutoshi
Nishida as an aggressive leader who could motivate staff but
also rattle them with tough sales targets and an occasional
dressing down.

“He gave me goals that scared the hell out of me,” Scott
told Reuters after Nishida resigned as an adviser to Toshiba,
along with two other former chief executives in the wake of a
$1.2 billion accounting scandal.

Aug 19, 2015

Wal-Mart’s drug problem: pharmacy business drags on profit

CHICAGO (Reuters) – The world’s largest retailer has a drug problem.

Wal-Mart Stores Inc said on Tuesday that lower margins in its pharmacy business had emerged as a drag on profits, as it gets paid less by drug plan managers and as fewer customers pay in cash, since Obamacare has increased the ranks of insured Americans.

The company warned that the margin squeeze would continue for at least the remainder of the year, although a spokesman told Reuters the pharmacy business is profitable and that Wal-Mart has no plans to sell it or find a partner to share the risk.

Aug 18, 2015

Wal-Mart profit misses estimates; cuts outlook as pharmacy margins bite

By Nathan Layne

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) reported weaker-than-expected quarterly earnings and lowered its annual forecast on Tuesday, citing higher costs from adding worker hours as well as weaker margins in its U.S. pharmacy business.

Shares of the world’s largest retailer fell 3.1 percent to $69.71 to trade at its lowest in 2-1/2 years.

Aug 5, 2015

Insight – How Toshiba delayed a $100 million loss with two words: ‘uncorrected misstatement’

TOKYO (Reuters) – As more details emerge about years of accounts manipulation at Japanese conglomerate Toshiba Corp (6502.T: Quote, Profile, Research), corporate governance experts say there needs to be more scrutiny of the role of the company’s auditors.

    Most of the blame for the $1.2 billion profit-padding scandal at the computer-to-nuclear group has been pinned on its senior management following a review into its accounts by a panel of independent accountants and lawyers.

Aug 5, 2015

How Toshiba delayed a $100 million loss with two words: ‘uncorrected misstatement’

TOKYO (Reuters) – As more details emerge about years of accounts manipulation at Japanese conglomerate Toshiba Corp (6502.T: Quote, Profile, Research, Stock Buzz), corporate governance experts say there needs to be more scrutiny of the role of the company’s auditors.

Most of the blame for the $1.2 billion profit-padding scandal at the computer-to-nuclear group has been pinned on its senior management following a review into its accounts by a panel of independent accountants and lawyers.