Bill’s Business

Jay-Z’s Rocawear Could ‘Fade to Black’

Posted on 15. Feb, 2012 by citizen in Bill's Business

Jay-Z’s Rocawear has hit hard times.

Special to the NNPA for the Afro-American Newspaper

Like many companies in today’s economy, Jay-Z’s clothing line is experiencing some rough times.

According to the New York Post, half the staff of the rapper’s Rocawear men and boys division in its Big Apple headquarters was laid off in early January. According to the New York State Department of Labor the urban apparel brand let go 28 of its 56 workers for “economic reasons.”

Moreover, an insider told the Post that the rapper used to be a strong presence in the office, but rarely shows up these days.

“It’s kind of like he’s given up on the brand,” the source said.

Jay-Z, whose real name is Shawn Carter, sold Rocawear for $204 million in 2007 to Iconix Group, which also owns Starter and Ed Hardy.

Following the brand’s purchase, the rapper continued to oversee the company until his contractual obligations expired. Now, he refuses to promote the brand as sales continue to decline.

“Jay-Z doesn’t do anything without getting paid a lot of money–a lot more than Rocawear is generating,” an insider told the Post.

The rapper launched the brand in 1999 with Roc-A-Fella Records partner Damon Dash.

The clothing line notably made headlines in November after receiving criticism for its “Occupy All Streets” t-shirts.

According to TMZ, protesters criticized Jay-Z for trying to capitalize off of the “Occupy” movement happening across the U.S.

The shirts were pulled from the company’s website, but later resurfaced.

Obama Wants Small-Business Bill

Posted on 07. Feb, 2012 by citizen in Bill's Business

The Obama administration also is seeking several major new tax breaks for small businesses that add jobs or increase wages in 2012.

WASHINGTON – President Barack Obama urged Congress to act quickly on bipartisan measures that would extend tax breaks for small businesses and help start up companies raise money. He said he would sign the legislation “right away.”

Obama made his remarks during a Cabinet meeting at the White House. He noted that for the first time, the head of the Small Business Administration, Karen Mills, was participating as a full member of the Cabinet. He said her presence symbolized his administration’s determination to spur entrepreneurship and help startup companies. AP

By JIM KUHNHENN

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

MLK III steps down as King Center president

Posted on 25. Jan, 2012 by admin in Bill's Business

King III said he will remain active on the center's board, but plans to launch a new organization dedicated to the principles of nonviolence, social justice and human rights. Photo: Max Talbot-Minkin

ATLANTA – The eldest son of the Rev. Martin Luther King Jr. announced that he is resigning as president of the Atlanta center that honors his father’s civil rights legacy.

Martin Luther King III broke the news in a statement a day after the holiday marking his father’s birthday. Last week, his sister, the Rev. Bernice King, took over as chief executive officer a role previously held by King III. Their brother, Dexter, remains chairman of the board of trustees.

King III said he will remain active on the center’s board, but plans to launch a new organization dedicated to the principles of nonviolence, social justice and human rights.

The siblings were embroiled in legal battle for more than a year before settling out of court in 2009. King III and Bernice King sued Dexter King, accusing him of acting improperly as head of their father’s estate, which the three of them control as a private corporation. In the lawsuit, they claimed he shut them out of decisions involving King Inc. and refused to hold a shareholders meeting since 2004.

King III resumed his position as head of the center in 2010. This month he announced plans for a major overhaul of the King Center at its annual fundraising gala. AP

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

By ERRIN HAINES

Target suspends effort to sell card portfolio

Posted on 25. Jan, 2012 by admin in Briefly

Photo: Bobak Ha'Eri

MINNEAPOLIS – Target Corp. says it is temporarily suspending its efforts to sell the portfolio that handles the balances credit cardholders owe the company, but plans to resume the talks later this year.

The Minneapolis company also said that it will pay about $2.8 billion to Chase Card Services to retire receivables financing from 2008. That payment, along with a premium, is expected to reduce its fourth-quarter earnings by about 8 cents per share.

Target still wants to sell its credit card receivables portfolio, but says it wasn’t in its best interests to complete a deal now. AP

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

Black ex-worker files 2nd Panera racial bias suit

Posted on 25. Jan, 2012 by admin in Briefly

PITTSBURGH – A black man who quit working at a suburban Pittsburgh Panera Bread restaurant last year has sued the franchisee, saying the company doesn’t want blacks in positions where they interact with the public.

Warren, Ohio-based Covelli Enterprises says in a statement that the 21-year-old man who filed the federal lawsuit is a disgruntled employee who walked off the job last year for violating company policies.

The lawsuit filed by Guy Vines echoes claims in a November lawsuit by a white manager who claims he was fired from the restaurant for objecting to Vines’ treatment.

Covelli says it investigated the former manager’s claims and called them “completely unfounded.”

The attorney for both plaintiffs says Covelli has a policy of discriminating against people who are “black, fat or ugly.” AP

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

More Blue Cross workers move to downtown Detroit

Posted on 25. Jan, 2012 by admin in The Tally

Last week’s relocation begins the final wave of Blue Cross Blue Shield employees heading to the downtown building. Photo: Mike Russell

DETROIT – Blue Cross Blue Shield of Michigan is moving another 125 workers into the nonprofit health insurer’s new offices in the Renaissance Center in Detroit.

About 2,100 were moved last year, and more than 1,200 workers are expected to do the same by June. The move to the Renaissance Center is expected to save Blue Cross $30 million in long-term real estate costs.

Blue Cross covers 4.4 million of Michigan’s 9.9 million residents. AP

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

Concordia disaster could cost industry millions

Posted on 25. Jan, 2012 by admin in The Tally

Collision of Costa Concordia. Photo: Roberto Vongher

NEW YORK – The capsizing of the Costa Concordia could not have come at a worse time for the cruise industry – right at the start of the peak booking season.
Even if passengers aren’t scared away, the accident will cost hundreds of millions of dollars.
It’s too early to tell exactly how much insurance firms will have to pay out to cover the damage to the ship and loss of life, but analysts have estimated that claims could total at least $500 million. One went as far as to say the total bill for insurers could reach $1 billion
At least 11 people died in the accident with nearly two dozen others still missing. AP

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

By SCOTT MAYEROWITZ

AP Business Writer

Mother of fire victim sues high-rise managers

Posted on 25. Jan, 2012 by admin in Briefly

3130 N. Lake Shore

CHICAGO – The mother of a woman killed in a Chicago high-rise apartment fire has filed a wrongful death lawsuit against the companies that manages the building.

The Chicago Sun-Times reports Ann McCoy claims her 32-year-old daughter, Shantel, would be alive had a sprinkler system been in place to put out the fire.

The mother also contends 3130 N. Lake Shore LLC and Planned Property Management Inc. failed to warn the victim of the fire and allowed her to use the elevators when the companies “should have known if was not safe to do so.”

The Cook County medical examiner ruled that Shantel McCoy’s death was accidental and caused by carbon monoxide intoxication and inhalation of smoke and soot. AP

Associated Press text, photo and/or graphic material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP Materials nor any portion thereof may be stored in a computer except for personal and non-commercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing.

Delta Named Top Tech-Friendly U.S. Airline

Posted on 25. Jan, 2012 by admin in Briefly

ATLANTA — Delta Air Lines has been named “Top Tech-Friendly U.S. Airline” by PCWorld magazine for its airport recharging stations, in-flight Wi-Fi on more domestic flights than any other carrier and smartphone apps with innovative features including baggage tracking and airport check-in. The publication also highlighted Delta’s 24-hour customer service via Twitter from @DeltaAssist, as well as the ability to book tickets directly from Facebook.

“We’re providing customers with technology tools to keep them connected during their travel experience on the ground and in the air,” said Bob Kupbens, Delta’s vice president – eCommerce. “When you literally have the tools in the palm of your hand to track your bag at 30,000 feet or check the status of your connecting flight, it helps eliminate the stress of travel and puts customers in control.”  PRNewswire

Chrysler Town & Country Awarded for 7th Year in a Row

Posted on 25. Jan, 2012 by admin in The Tally

2012 Chrysler Town & Country

AUBURN HILLS, Mich., — The 2012 Chrysler Town & Country was awarded the Detroit News Readers’ Choice “Best Family Hauler” for a seventh year in a row. A panel of consumer-minded Detroit News reader-judges selected the 2012 Chrysler Town & Country as the best family vehicle at the 2012 North American International Auto Show.
“Chrysler has been the lead innovator in the minivan segment for over 20 years, and the Detroit News Readers’ Choice Award for Best Family Hauler demonstrates that consumers continue to take notice,” said Saad Chehab, Head, Chrysler Brand – Chrysler Group LLC. PRNewswire