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August 31st, 2011
Jim Sinegal plans to step down Jan. 1 as the CEO of Costco Wholesale Corp., the company disclosed late Wednesday. Sinegal will be succeeded as CEO by Craig Jelinek, currently Costco’s president and chief operating officer, the company said in a press release. Jelinek has worked for the company for 28 years. Costco said Sinegal will remain on the board of directors and serve in an advisory role to Jelinek through January 2013. Sinegal plans to run for re-election to the board in 2012. Sinegal told The Seattle Times that it was time to step down because of his age — 75 — and the healthy condition of the company…
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August 31st, 2011
The state of California has put out its quarterly list of biggest business tax laggards, which includes 42 Bay Area businesses who together owe more than $74 million in the third quarter. The statewide list includes 250 businesses, which have total tax liabilities of $409 million, according to the Board of Equalization, which collects business taxes in California. The BOE said 18 businesses are new to the list this quarter. Only one of those, ETECH4SALE.COM, INC. of Santa Clara, is from the Bay Area…
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August 31st, 2011
Ann Botticelli has been named senior vice president for corporate communications and public affairs at Hawaiian Airlines. Botticelli will replace Al Hoffman, who is retiring from the position, Hawaiian Airlines (NYSE: HA) said in a news release. Botticelli, a former television news reporter, is currently the vice president for community relations and communications at Kamehameha Schools, a post she will leave on Sept. 30, the airline said. Botticelli, who starts at Hawaiian on Oct. 3, previously worked for KITV, KHON and The Honolulu Advertiser.
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August 31st, 2011
Retail activity is picking up speed in two-thirds of America's 100 major metropolitan areas. That's according to the latest retail-trade employment data from the U.S. Bureau of Labor Statistics, which indicates that 68 metros posted gains between July 2010 and July 2011. Thirty-one areas lost retail jobs, and one was unchanged. The biggest upswings occurred in Dallas-Fort Worth and Providence. The Dallas area had the largest raw increase in retail-trade employment, adding 7,200 jobs in a year…
Read more about “Retail employment rises in two-thirds of metros, but plummets in Virginia markets”
August 31st, 2011
Texas A&M announced Wednesday that it will leave the Big 12 Conference by July 2012, if it can find another home, preferably in the Birmingham-based Southeastern Conference. According to espn.go.com, Texas A&M, which has been in the Big 12 since its founding in 1996, said it will submit an application to join another, unspecified conference and will leave the Big 12 effective June 30, 2012, if accepted. University President R. Bowen Loftin said leaving the Big 12 "is in the best interest of Texas A&M," and he hopes the move can be amicable and presumably hopes to negotiate a reasonable exit fee.
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August 31st, 2011
HudsonAlpha Institute for Biotechnology in Huntsville will lead a $7.8 million study of bipolar disorder that sequences the genomes of 2,000 people. According to the Huntsville Times, the study pairs HudsonAlpha with the University of Michigan in looking for genes and genetic pathways that contribute to the risk for the disorder. HudsonAlpha President and Director Dr. Rick Myers, the study's chief scientist, said the analysis will be one of the largest sequencing studies in the world, although he predicted it would be surpassed as soon as next year as more scientists use new research technology to seek genetic links to other diseases.
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August 31st, 2011
The chairman and chief executive of Waste Connections Inc. says the company is in negotiations to move to another state. Ron Mittelstaedt, leader of the largest locally based public company, said on the John McGinnis radio show on KFBK Wednesday that California is too difficult a place to do business. Folsom-based Waste Connections (NYSE: WCN) is the largest publicly traded company in the Sacramento region It has a market capitalization of $3.9 billion and more than $1.3 billion in revenue. It operates in about 29 states and it employs more than 5,500 people…
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August 31st, 2011
The owner of The Waikiki Edition Hotel filed for Chapter 11 bankruptcy on Wednesday as executives from Marriott International Inc. waited to take back management of the hotel. M Waikiki LLC said the filing would allow the company, which is controlled by California-based eRealty Fund LLC, to protect its investment in the 353-room hotel, which was rebranded The Modern Honolulu over the weekend. M Waikiki locked Marriott out early Sunday and installed an affiliate of Aqua Hotels & Resorts as the new management company…
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August 31st, 2011
Noodles & Company said Wednesday it has reached a franchise deal to open several stores in Connecticut over the next five years, its first foray into the Northeast states. The Broomfield-based food chain's pact is with franchise group Hartford Noodles LLC of Hartford, Conn. The group will open its first Noodles & Company in Hartford County, Conn., in 2012, with several more to come. The company did not disclose how many restaurants will be opened. “The management at Hartford Noodles has a proven history of introducing restaurant brands in New England,” J…
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August 31st, 2011
For the second time in 17 months, Fremont has seen large-scale layoffs. In April 2010, 4,700 workers at the New United Motor Manufacturing plant found themselves on the street after Toyota Motor Corp. pulled the plug on what had been a 26-year cooperative automotive manufacturing effort with General Motors Co. This week, the numbers were smaller — 1,100 terminated by the solar panel manufacturer Solyndra Inc. — but the company’s plans to file for Chapter 11 bankruptcy protection came as a shock to many…
Read more about “Solyndra closing all too familiar in Fremont”
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Sinegal to step down as Costco CEO