Sears may be saved, Netflix is about to get pricier, and more top news
The news professionals are talking about now, curated by LinkedIn’s editors. Join the conversation on today's stories in the comments.
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Iconic retailer Sears will stay open, reports Reuters, after Sears Holdings Chairman Eddie Lampert won a bankruptcy auction with a bid of around $5.2 billion. The proposal means that 45,000 employees will keep their jobs, and the existing 425 stores will stay open. Sears had filed for bankruptcy protection in October. The deal still needs to be approved by a bankruptcy judge, which is likely to happen this week. • Here’s what people are saying.
Netflix plans to raise prices by 13% to 18%, its most ever. The higher prices will help the streaming service tackle the debt taken on to produce original programming and compete with rivals such as Amazon, or NBC Universal, which announced this week it will roll out a streaming service. Netflix’s new cost structure takes effect immediately for new subscribers and will hit existing subscribers over the next few months. • Here’s what people are saying.
Snap CFO Tim Stone is leaving the company — and a $20 million pay package, less than a year into the role. His departure adds to a growing list of executives who have resigned in recent months, including chief strategy officer Imran Khan in September, and vice president of content Nick Bell, who left in November. Snapchat has struggled in recent years against rival Instagram. • Here’s what people are saying.
Ford and Volkswagen are teaming up to produce vans and pickups, announced the two companies at the Detroit auto show. The alliance, which both CEOs will lead, won't involve a merger or equity stakes. For the initial stage in 2022, Ford will build midsize pickups for both companies, "highlighting the growing pressure on global automakers to manage the costs of developing electric and self-driving vehicles,” per Bloomberg. • Here’s what people are saying.
Three decades later, Gillette is taking its iconic “the best a man can get” slogan in a different direction. The Procter & Gamble shaving brand released a new ad tackling issues such as #MeToo, bullying and “toxic masculinity” — to mixed reactions. Gillette isn't the first to use social issues to advertise its products; Nike's campaign with former NFL quarterback Colin Kaepernick (who refused to stand during the national anthem) generated praise and boycott alike. • Here’s what people are saying.
Idea of the Day: Social media has increased society’s propensity for change, says Jamie Bolding, founder and CEO of Jungle Creations.
“Today, thanks to the internet, social media and the constant access we have to information, change takes hold much quicker, which is fantastic for the advancement of society.”
What's your take on today’s stories? Share your thoughts in the comments.
SWE @ Google
5yAre people still commenting on this old #commit mints
Happily retired from IDB and University of Maryland.
5yI hope to see SEARS opened again and that it retains its employees.
Creator of The 420 Network on YouTube
5yBye Bye to Sears. Nike died from Colin issues. I still remember the Blue Light sales at Kmart. Lowes sells Craftsman tools now. Enough shrines to scam people. An informed customer will most often buy it from the Best deal instead of going to a fancy warehouse. Displays and all of the decorations only make more of a display of the customers wasted money. They tore down the Sears at the Woodland Mall in Grand Rapids. A bunch of wasted space.