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News February 2015


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Radio Shack Selling Name In Bankruptcy Auction, Bids Starting At $20 Million

Posted On: February 28, 2015

Radio Shack is being auctioned in a bankruptcy suit but instead of selling their stores, they are selling the name of their company, and bids are set to begin at $20 million dollars.

After filing for bankruptcy and following court proceedings, Radio Shack is selling their company in an auction bid. After 94 years in business, Radio Shack is aware of what their assets are and instead of selling their whole company, they are putting the name of it up for bid, but we'll still own all the buildings and products of all their stores, which gives them the option to sell.

Although, Radio Shack will be bankrupt, they still made a power move. The auction bid for their company name will began at $20 million dollars, along with all their intellectual property of the company. They also are bidding all the buildings they own and the products in each stores with bids starting at $200 million dollars.

Radio Shack received the green light from the U.S. Bankruptcy Court, to merge with Sprint in an effort to sell any stores or products that were not purchased in the bid. With Sprint acquiring the remaining stores and products of Radio Shack, it will give them a boosts in sales, and also in their business. 

There's no published legal documents of when the bids are scheduled to occur but when they do, Radio Shack will be able to obtain the assests and profit shares they've earned throughout their 94 years of operating as a major tech supply store; and still remain in business by merging with Sprint.


Business Report: Marshalls, TJ Maxx & HomeGoods Will Increase Minimum Wage To $9 Per Hour

Posted On: February 28, 2015

In an article published by Bloomberg, TJX Cos. which is the umbrella company for Marshalls, TJ Maxx, and HomeGoods will be increasing their hourly minimum wage.

The pay increase serves a purpose of maintaining and enhancing employee performances; and also the morality of TJX Cos., which was accused of under paying their employees. This came about after workers and retail labor advocates took action demanding pay increases, and legislative from Washington D.C. moving in to increase minimum wages across the nation.

The wages for retail employees have been in discussion of becoming a legal matter, with union laborers reporting employees working excessive hours without getting paid time and a half or overtime, also employees not being compensated after reviews of ther performances; and TJX Cos. not increasing pay rates to their employees. But instead of it leading to business and finance courts, TJX Cos. will increase their mimimun wages to all employees at $9 an hour who work for all the entity brand stores that they own and by 2016, they will revised it and; increase the minimum wage to $10 an hour.

Below is a statement made by TJX. Cos representative in a press release.

“This pay initiative is an important part of our strategies to continue attracting and retaining the best talent in order to deliver a great shopping experience for our customers, remain competitive on wages in our U.S. markets and stay focused on our value mission,” CEO Carol Meyrowitz said in a statement.

The pay increase will not only benefit employees of TJX. Cos. but also their company, which will help them reduce hiring and training costs of new employees.


NYC To Pay Victim's Family $3.9 Million In Police Shooting Case Of Unarmed Teen

Posted On: February 05, 2015

New York City agreed to pay $3.9 million dollars, after court proceedings to the family of an unarmed teen, shooting victim.

The incident was from 2012, Ramarley Graham was shot by a police officer in the chest, inside his family's living room. Graham was 18 at the time, the incident happened in the Bronx, after Graham was suspected of drug dealing by Officer Richard Haste. The officer followed Graham into his home to apprehend him but shot him instead, stating he saw Graham reaching for something.

Since the shooting, Richard Haste was charged with manslaughter, while in motion, the whole case was thrown out of court, when the judge fined the prosecutor for trying to improperly instruct the grand jury. The case went into retrial, but then the district attorney told the grand jury to disregard testimonies from police officers, who came forward to testify Richard Haste was notified over police radio that Graham had a gun. The grand jury did not indict again.

Ramarley Graham's family then filed a wrongful death suit against the city of new York, with claims stating Graham was not even the suspect in the question. The judges in the case, awarded Graham's family $3.9 million in the suit. The family has another case pending about Graham's civil rights being violated, from acts of police brutality from Officer Richard Haste.

Federal prosecutors already have begun to investigate the whole incident, to determine if Ramarley Graham's civil rights were violated and if the case, will go to court or not.


RadioShack Closing Half Its Stores, Selling The Rest To Sprint

Posted On: February 04, 2015

RadioShack knows all about longevity in business, with 94 years of bringing the latest tech devices to customers. Business news reports, confirmed RadioShack will be going bankrupt soon and closing half of its stores.

RadioShack has already began filling for bankruptcy and the legal documents state, whatever stores remain open, they will sell it to wireless mobile giant, Sprint. There's also a possibilty that RadioShack could merge with Sprint or be acquired by another company.


Energizer Batteries Introduces First Alkaline Recycled Battery

Posted On: February 04, 2015

Energizer who is the maker of their popular brand batteries, adapted the vision of creating batteries to benefit the earth and ozone layer.

Recycling has become very big, due to some products and packaging. Because of this, it created companies and corporations who are in the business of recycling and finding ways to reuse and refurbish certain products.

Energizer who creates batteries and other products, which can not be recycled, has found opportunities to reuse and refurbish their batteries.

In an article published by the Associated Press, Energizer made history by introducing the first ever recycled alkaline battery.

Energizer Holdings which is the main company, launched their recycled brand batteries titled, "Eco Advanced." The batteries are scheduled to be availabe in stores this week.