Retailers, consumers and prices
Check out the latest twist in the eBay – Craigslist saga.
A judge reinstated eBay’s 28.4 percent stake in Craigslist, but allowed the classifieds site to keep eBay off its board.
The mixed ruling meant no clear victory for either of the companies, whose relationship turned from cozy to competitive and ended up in court in 2008.
“More fortunate than Goliath, eBay leaves this field with only a gash across its forehead; less fortunate than David, Craigslist leaves this field with something less than total victory,” wrote Chancellor William Chandler III of Delaware’s Court of Chancery in his opinion.
Craigslist has been keen to protect its decision-making and trade secrets after eBay launched a competing ad site, and the latest ruling will keep eBay out of the classified company’s boardroom.
(Corrects to show Kenny Wallace, not Rusty Wallace did a similar program)
A company launched by a NASCAR fan to allow fellow race lovers to collectively sponsor a car has signed up a former NASCAR champion driver as its first recipient.
FanCar said it will sponsor two-time NASCAR Sprint Cup champion Terry Labonte and Carter/Simo racing at the Ford 400 race on Nov. 22 in Miami, the last race of the season. The company was launched by Texan and NASCAR fan Matt Ferguson last week.
Home Depot is hoping that Joey Logano, the new face of its NASCAR sponsorship beginning next year, will prove just as popular and profitable for the company as his predecessor, Tony Stewart.
The home improvement retailer has signed on to a multiyear deal with Joe Gibbs Racing under which it’ll continue to sponsor the Nascar Sprint Cup No. 20 Toyota. Driver Logano, just 18 years old, will be replacing Stewart, who is leaving Joe Gibbs at the end of this season to become an owner and driver with Stewart-Haas Racing.