Tag: Jeff Bezos

Latest Headlines

Brown-Forman jumps 4% on Q4 financial results; N.Y. says UPS illegally shipped 700K cartons of untaxed cigs; and a Brit’s bonkers for Roadhouse

A news summary, focused on big employers; updated 6:17 p.m.

Paul Varga
Varga

BROWN-FORMAN said fiscal fourth-quarter operating income soared to $726 million on sales of $933 million, on the continued strength of Jack Daniel’s whiskey sales. But the figures included a one-time $485 million gain from the sale of Southern Comfort and Tuaca during the quarter, which ended April 30. On a diluted per-share basis, earnings were $2.60 per share vs. 66 cents a year ago at the spirits and wine giant (press release and the SEC 8-K). What analysts had forecast. The company’s class A and class B shares both closed up 3.5% (Google Finance). CEO Paul Varga called the fiscal year “a tale of two halves,” with emerging market sales rising by 8% in the first half of the year before paring that decline to 1% in the second half (Wall Street Journal). Management held a 10 a.m. conference call to discuss the results, and it’s now available for replay. More about Brown-Forman.

UPS: New York’s attorney general yesterday accused UPS of knowingly shipping about 700,000 cartons of untaxed cigarettes from Native American reservations to consumers and smoke shops between 2010 and 2014, even though the company had agreed to halt the practice more than a decade ago. UPS denied the allegation (Associated Press).

Amazon logoAMAZON will invest another $3 billion in its India operations, more than doubling its prior commitment in what CEO Jeff Bezos said yesterday is the company’s fastest-growing market. Two years ago, the online retail giant announced a $2 billion investment in the nation, where it already employs 45,000 workers. Bezos disclosed the news at a Washington business summit attended by Indian Prime Minister Narendra Modi (BBC and International Business Times). Amazon didn’t help its efforts when consumers threatened a boycott over the company’s selling doormats bearing the image of the Hindu gods and other religious symbols; the company pulled the items this week (Mashable).

KINDRED: Jurors heard opening statements yesterday in a wrongful death lawsuit against the hospital and nursing home giant, brought by the family of a man who died in 2011 at the Greenbriar Terrace nursing home in Nashua, N.H. Byam “Bing” Whitney Jr. had developed pneumonia, followed by bedsores that led to sepsis; he was 84 (Union-Leader).

PAPA JOHN’S: A Miami delivery driver filed another proposed class-action lawsuit against 31-store franchiser Pizzerias LLC in Florida federal court on Monday, accusing the company of shorting drivers on mileage reimbursements (Law 360). In August, Papa John’s agreed to pay $12.3 million to settle a class-action lawsuit accusing the company of underpaying mileage reimbursements to drivers in Florida and five other states. That suit was originally filed in federal court in St. Louis in 2009, and represented about 19,000 drivers (KYCIR).

TEXAS ROADHOUSE: Noted, because it popped up in Boulevard’s news search results this morning: TripAdvisor users rated Texas Roadhouse No. 21 of 194 restaurants in St. George, Utah. “This was possibly our best meal out of the four that we had in St George,” user Tired Boy of the U.K.’s Sheffield wrote yesterday, in a perfect five-star review. “Some people may feel that they don’t like the chain restaurant scene, but it was our first time there and we’d definitely go back again” (TripAdvisor). St. George is a Mojave Desert resort in the state’s southwest corner.

In other news, U.S. stocks closed the day up modestly, as did most of the 11 big employers in Boulevard’s Stock Portfolio (Google Finance). Finally, the cast of “The Phantom of the Opera” was to pay tribute to the late boxing legend Muhammad Ali this afternoon at the Kentucky Center for the Performing Arts, where it began a 12-day run last week; Ali died last week at 74, and his funeral will be Friday (WDRB).

Latest Headlines

B-F closes $405M BenRiach deal; Bezos says Amazon isn’t gunning for UPS — but he wants ‘better prices’; and Taco’s new Chalupa is one of ‘grossest fast food items ever offered’
BenRiach Distillery
The distillery is in the Highlands of northern Scotland.

A news summary, focused on big employers; updated 3:47 p.m.

BROWN-FORMAN said today it had completed its previously announced acquisition of Scotland’s BenRiach Distillery Co. for £281 million ($405 million). The deal includes three BenRiach labels and brings Brown-Forman back into the single-malt scotch whisky business. “The GlenDronach, BenRiach, and Glenglassaugh single-malt brands are among the finest single malts in the world,” CEO Paul Varga said in a statement. The purchase includes three distilleries, a bottling plant, and the headquarters in Edinburgh. BenRiach was founded in 1826 — 44 years before Brown-Forman was launched (press release). Today’s announcement follows a published report two weeks ago that the Louisville spirits and wine company is considering selling its Finlandia vodka business amid a broader effort to focus on whiskey. Brown-Forman’s Louisville operations.

Jeff Bezos
Bezos

AMAZON CEO Jeff Bezos told a high-profile technology conference last night that the retail giant isn’t aiming to compete head-on with UPS and other shippers it now partners with. Instead, Amazon wants to pick up the slack when delivery services can’t handle the final stretch. He cited India and the U.K. as examples. “We have had to take over a lot of the last-mile delivery in the U.K. over the last several years,” he told the Code Conference, in wide-ranging remarks. “The Royal Mail ran out of capacity at peak” (Bloomberg). Bezos did, however, hint at another motivation: wrangling better terms on delivery contracts. “Better prices on transportation would be acceptable to us,” he deadpanned (Recode). The Amazon founder was “equally comic, candid, and clever as he offered his views on artificial intelligence, data privacy, free speech, leadership, streaming video, and aerospace” (Fortune).

Elsewhere, Amazon is hiring more than 1,000 workers for its new 855,000 square-foot distribution center opening this summer outside San Antonio; the company already has six other Texas centers, including another one in the San Antonio area (Houston Chronicle). Amazon has five centers in Kentucky, including two in the Louisville area employing 6,000. And with more than 20,000 workers, UPS is Louisville’s biggest private employer.

TACO BELL‘s newest menu offering — a Chalupa with a fried chicken shell — is one of the “grossest fast food items ever offered” (New York Daily News). How it’s made (BuzzFeed). Also, the company has started construction on a restaurant in Nitro, West Virginia (WSAZ).

Ford logoFORD recalled 1.9 million vehicles with certain Takata passenger-side frontal airbag inflators after Takata said the inflators were defective. The vehicles affected are 2007-2010 Ford Edge; 2006-2011 Ford Fusion; 2005-2011 Ford Mustang; 2007-2011 Ford Ranger; 2007-2010 Lincoln MKX, and 2006-2011 Lincoln MKZ, Zephyr and Mercury Milan (Reuters and press release); all about Takata’s airbag scandal. Separately, Ford said total U.S. vehicle sales in May declined 6% from a year ago, to 235,997. That was despite F-Series pickup sales posting a 9% gain, and van sales hitting their best May since 1978 (press release). Ford shares closed down 2.9% at $13.10.

KINDRED said it completed a deal where it’s buying four leased hospitals in Indianapolis, Houston, Denver and Colorado Springs, Colo., and selling two in Cleveland, one owned and another leased. The Louisville hospital and nursing home giant said it paid about $800,000 cash and additional cash consideration to Select Medical Holdings Corp. as part of the deal (press release). Separately, Kindred said it’s closing its Bashford Manor area nursing and rehabilitation center, where 153 employees care for 110 residents (Courier-Journal).

PAPA JOHN’S will be one of the first U.S. restaurant brands to enter Tunisia; it’s the second African country after Egypt to have one of the pizza chain’s franchises. The country in North Africa only recently opened its borders to franchising (Meat & Poultry). More about Tunisia.

GE is scaling back plans for a factory that will build big gas-powered engines in Welland, Ontario; the factory is now in Waukesha, Wisc. The company will create just 150 jobs at the new site, down from 350 at Waukesha, when it first announced the move in September. GE is taking advantage of tax incentives (CBC).

TEXAS ROADHOUSE got only a so-so review in Augusta, Ga., partly because of the restaurant’s signature item: steak. “My first bite of the filet seemed pleasantly salty, but as I went on, the meat was overwhelmed with salt — I couldn’t even finish it,” the reviewer said. “It was tender, but not the most tender filet I’ve ever had. And while I ordered it medium, it was more of a medium rare” (August Chronicle). The restaurant chain tweeted a recommended topping on Sunday:

In other news, the embattled Cahoots bar on Baxter Avenue in the Highlands is closing (Business First). Brawls had been a problem, leading a customer to post a truly gross review, complete with photo! “Blood on the men’s room sink,” wrote John R. “From one of the (many) fights I’ve witnessed at this place. Disgusting” (Yelp).

Latest Headlines

Uber using Fusions in new self-driving cars test; KFC hit over antibiotics use, and Bezos strikes back at Trump
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Activist group created “Auntie Biotic” mascot in campaign targeting KFC.

A news summary focused on big employers; updated 6:06 p.m.

FORD: Uber said today it’s using hybrid Fusions as it starts testing self-driving cars in Pittsburgh (Fortune). Also, Apple co-founder Steve Wozniak and former Ford CEO Alan Mulally will receive awards at an innovation conference in Lexington starting Sunday (Daily Journal).

KFC: Activists are pressing KFC to stop buying chicken from industrial farms that use antibiotics meant for humans. The Natural Resources Defense Council created a mascot, Auntie Biotic, to draw attention to its cause (blog post). Australian restaurant operator Collins Foods is paying $19 million for 13 KFC outlets around the New South Wales and Victorian border (Business Insider). And teenage inmates who were involved in a tense standoff with police in Melbourne were promised KFC in exchange for their surrender (Daily Mirror). Yum shares closed at $80.07, little changed.

AMAZON CEO Jeff Bezos defended the company against criticism by White House hopeful Donald Trump, who said earlier that the retail giant was “getting away with murder, tax-wise (Seattle Times). Also, how Google Home could be Amazon Echo’s worst nightmare in the digital home assistant space (Verge). Shares closed at $698.52, up $1.07.

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Booth

TACO BELL: How the company turns fried chicken into taco shells (Consumerist). Meanwhile, the Internet can’t get enough stories about Florida’s Jack Booth, who woke up from a 42-day coma and almost immediately demanded 8½ crunch tacos. “I didn’t expect him to eat as many as he did, but he sure crushed it,” said friend and co-worker Andrew Haldeman (Naples News).

CHURCHILL DOWNS: Otabek Umarov, the owner and trainer of Looks to Spare, the longshot third-place finisher in last year’s Grade 1 Clark Handicap, has been ejected from the track’s facilities and suspended by state stewards (Racing Form).

TEXAS ROADHOUSE has weighed in on new overtime regulations mandated by the Obama Administration (Insider Louisville).

UPS is preparing to add on-demand 3-D printer services (3 D Print)

In other news, Louisville ranked No. 18 on employment site Glassdoor’s list of the 25 best U.S. cities to find work, well down from No. 8 a year ago (Business First). Glass door says its picks stand out for ease in finding work, affordability, and job satisfaction. This year’s No. 8 is Raleigh-Durham, N.C.;  full list.

Latest Headlines

Trump renews Amazon attack, 93-year-old KFC retiree hits rare milestone; and UPS plans big new Austin facility

A news summary focused on big employers; updated 2:02 p.m.

Donald Trump
Trump

AMAZON: White House GOP candidate Donald Trump attacked Jeff Bezos again, claiming the Amazon CEO bought The Washington Post to promote a political agenda that would help the company on taxes (CNN). Also, a former software director who led the company’s new FireTV initiative was charged with promoting prostitution in the Seattle area (KIRO).

KFC: A retired 29-year employee in Ontario has reached an American Legion milestone that few reach in any organization: he’s been a member for 60 years. William Young, 93, worked at a KFC franchise, rising to manager before retiring. And he met founder Col. Harland Sanders (Argus Observer).

UPS plans a new $70 million, 300-employee distribution center in Austin with room for 300 vehicles; it’s to open at the end of 2018 (Austin Statesman). Asked and answered: How important is e-commerce to the shipper’s sales (Motley Fool).

In other news, The Courier-Journal has joined 199 other investors in buying a two-year-old colt, which the nascent Churchill Downs Racing Club hopes to run during the current spring meet. The horse is being trained by Hall of Famer D. Wayne Lukas (Courier-Journal).