Southwest Airlines has announced that executive chairman and former CEO Gary Kelly will retire next year, signaling a significant shift in leadership for the company. Kelly, who has been with Southwest for almost four decades, will be stepping down at a crucial time for the airline as it faces pressure for changes by activist investor
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Discount home goods retailer Big Lots recently filed for bankruptcy protection due to a combination of high interest rates and a sluggish housing market. The company, known for its low-priced furniture and decor, agreed to sell its business to private equity firm Nexus Capital Management for approximately $760 million. This deal includes $2.5 million in
Boeing’s Starliner spacecraft finally undocked from the International Space Station after a long delay, leaving behind the two astronauts that it had brought to orbit in early June. The return to Earth did not go as planned, as it took about six hours for Starliner to touch down at the White Sands Space Harbor in
The Green Bay Packers, with a valuation of $6.3 billion, stand out as the only National Football League team that operates under a publicly owned structure. Since its establishment over a century ago, the franchise has maintained a tradition of ownership by stockholders who are primarily dedicated Packers fans. With a total of more than
When Jerry Jones acquired the Dallas Cowboys in 1989, he inherited a struggling team that was losing a significant amount of money each month. The team was faced with empty seats and suites at Texas Stadium, posing a financial challenge for Jones right from the start. Despite these challenges, Jones was determined to turn the
Molson Coors recently made headlines with its decision to reverse its diversity, equity, and inclusion policies. The company announced that it will be eliminating supplier diversity quotas, citing external factors beyond its control as a reason for the change. This shift in strategy is significant as it marks a departure from the company’s previous initiatives
Steph Curry, the four-time NBA champion, is already looking towards his future beyond the basketball court. In a recent interview with CNBC’s “Squawk on the Street,” the 10-time NBA All-Star discussed his plans for the rest of his basketball career, as well as his various business ventures and goals for after his playing days come
Airlines in the industry that were once eager to expand their fleets with new aircraft are now facing the reality of cash constraints and the need for saving money to return to profitability. Low-cost and deep-discounter carriers are particularly feeling the pressure as they try to navigate the impacts of engine repairs and the overall
The landscape of cannabis consumption is undergoing a significant shift, and this change is evident with the emergence of high-end cannabis dispensary stores on Fifth Avenue in New York City. While this iconic area is known for its upscale retailers like Cartier and Saks, it now also offers a unique shopping experience that includes purchasing
The Food and Drug Administration has recently given the green light to Novavax’s updated protein-based Covid vaccine for emergency use in individuals aged 12 and above. This approval opens the doors for Novavax’s vaccine to join the competition with Pfizer and Moderna’s vaccines during the upcoming fall and winter seasons. Novavax’s vaccine is specifically designed
American Eagle has once again fallen short of Wall Street’s sales targets for the second consecutive quarter. Despite this disappointing news, the company reported a significant increase in profit of nearly 60%, largely attributed to lower product costs. The market responded negatively to this news, with the company’s shares dropping more than 8% in early
Despite an inflation-fueled sales slump that hit the toy industry in the first half of 2024, Lego managed to outperform its competitors, with revenue jumping 13% in the first six months of the year. Niels Christiansen, CEO of the Danish toymaker, attributed this success to the strength of Lego Icons, Lego Creator, and the partnership
The world has seen a significant increase in the number of crypto millionaires over the past year, with a staggering 95% growth in individuals holding more than $1 million in crypto assets. According to a report from New World Wealth and Henley & Partners, the number of pure bitcoin millionaires has more than doubled to
Dallas Mavericks and New Orleans Pelicans fans are eagerly awaiting updates on how they will be able to watch their favorite teams’ local games in the upcoming NBA season. Both teams are making a significant transition by moving away from their regional sports networks owned by Diamond Sports. This shift was detailed in a recent