Southwest Airlines recently announced that long-time executive chairman and former CEO Gary Kelly will be retiring next year. This news comes amid pressure from activist investor Elliott Investment Management for leadership changes within the company. Kelly, who has been with Southwest for nearly four decades, made this decision following a meeting with Elliott, signaling a
Business
Discount home goods giant Big Lots recently filed for bankruptcy protection following a decline in demand due to high interest rates and a sluggish housing market. The retailer, known for its low-priced furniture and decor, has agreed to sell its business to private equity firm Nexus Capital Management for approximately $760 million. This deal includes
Boeing’s Starliner spacecraft recently undocked from the International Space Station, marking the conclusion of a tumultuous mission that was marred by delays and unexpected challenges. Originally scheduled to depart much earlier, the spacecraft left orbit without the two astronauts it had brought to the ISS in June. This departure included NASA test pilots Butch Wilmore
In a sea of privately owned teams in major professional sports leagues, the Green Bay Packers stand out as the only team with a publicly owned structure. The franchise, valued at $6.3 billion, is owned entirely by stockholders, a tradition that dates back over a century. With more than 5.2 million outstanding shares held by
When Jerry Jones purchased the Dallas Cowboys in 1989 for $150 million, he was met with a struggling team that was losing $1 million a month. However, instead of being deterred by the financial challenges, Jones saw an opportunity to turn things around both on and off the field. Despite having borrowed every penny to
Molson Coors, a well-known brewing company, has made significant changes to its diversity, equity, and inclusion policies by eliminating supplier diversity quotas. The company stated in an internal memo that these quotas can be complicated and influenced by factors beyond their control. Instead, Molson Coors will focus on ensuring its suppliers represent the diverse consumer
Steph Curry, the renowned NBA Champion, is not only focused on his basketball career but is also actively involved in various entrepreneurial ventures. In addition to his successful basketball journey, he has established a media company, Unanimous Media, and a youth golf tour called Underrated. These ventures showcase his diverse interests and his ability to
The airline industry, once booming with new jet orders and expansion plans, is now facing a different reality. With cash-strapped, low-cost, and deep discounter airlines struggling to return to profitability, the focus has shifted from growth to cost-saving measures. The impact of engine repairs, combined with oversupply and reduced demand, has pushed airlines like Spirit
The traditional view of cannabis consumption has markedly shifted, moving from underground dealings to high-end shops located in prime shopping districts like Fifth Avenue in New York City. With the legalization of adult-use marijuana in New York state, licensed dispensaries have seen a surge in sales, exceeding $100 million last year. This has paved the
Novavax’s protein-based Covid vaccine has recently received authorization from the Food and Drug Administration (FDA) for emergency use in individuals aged 12 and above. This approval has opened up a new competitor in the market, alongside Pfizer and Moderna’s vaccines, for the upcoming fall and winter seasons. Novavax’s vaccine specifically targets the highly contagious omicron