Blucora: Glass Lewis Rejects Candidates Nominated By Ancora – Quick Facts

Blucora, Inc. (BCOR) said independent proxy advisory firm Glass, Lewis and Co. LLC has recommended that stockholders vote for all the company’s directors in connection with the upcoming 2021 annual meeting of stockholders, scheduled to be held on April 21, 2021. Glass Lewis rejected all of the candidates nominated by Ancora Catalyst Institutional, LP.

Blucora urged its stockholders to support the refreshed Blucora Board and the company’s actions to maximize value. Blucora said its Board does not endorse any of Ancora’s nominees.

LG To Exit Mobile Phone Business

LG Electronics decided to shutter its unprofitable mobile phone business later this year, after almost 26 years in operation.

The decision is expected to help the company focus its resources in growth areas such as electric vehicle components, connected devices, smart homes, robotics, artificial intelligence and business-to-business solutions, as well as platforms and services, the South Korean technology company said in a statement on Monday.

Over the past nearly 6 years, the company’s smartphone business has incurred a loss totalling about $4.5 billion. LG has been losing its mobile business to its Chinese competitors, Apple, and Samsung.

LG reportedly had said in January that it would consider all possibilities for the future of its mobile phone business. It first started making mobile phones in 1995.

LG will complete the winding down of its mobile phone business by July 31. But inventory of some existing models may still be available after that.

The company will provide service support and software updates for customers of existing mobile products for a period of time which will vary by region.

LG noted that it will determine details related to employment at the local level.

The company plans to continue to develop mobility-related technologies such as 6G to help further strengthen competitiveness in other business areas. It will retain core technologies developed during the two decades of LG’s mobile business operations.

Facebook will use part of its headquarters as a public vaccination site

• Facebook is converting part of its Menlo Park, California, headquarters into a Covid-19 vaccination site, COO Sheryl Sandberg said in a post on Friday.
• The company said it's also teaming up with the California government and local nonprofits to support mobile vaccination sites in four of the state's hardest-hit regions.

Facebook is converting part of its Menlo Park, California, headquarters into a public Covid-19 vaccination site, COO Sheryl Sandberg said in a post on Friday.

Facebook is partnering with the Ravenswood Family Health Network to roll out the vaccines. Sandberg said Facebook is also teaming up with the California government and local nonprofits to support mobile vaccination sites in four of the state's hardest-hit regions.

"As more COVID-19 vaccines roll out across the country, we are finally seeing glimmers of hope, which can grow so long as we continue to make progress," Sandberg wrote.

Facebook's move follows its social media peer Google. The Alphabet-owned company in January offered up its facilities to serve as Covid-19 vaccination sites as needed.

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Members-only social club Soho House files for US IPO at $3 billion valuation, report says

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• Soho House, a network of private social clubs, filed confidential IPO paperwork with the Securities and Exchange Commission, Sky News reported.
• The company could be valued at more than $3 billion, creating a windfall for founder Nick Jones.
• The London-based company is part-owned by American billionaire Ron Burkle.
• See more stories on Insider's business page.

Soho House, a London-based network of private social clubs located worldwide, has filed to go public in the US, Sky News reported Friday.

The company this week filed confidential IPO paperwork with the US Securities and Exchange Commission. Soho House could be valued at more than $3 billion (£2.1 billion), the report said, citing banking sources.

Soho House is aiming for a listing on the New York Stock Exchange, eschewing a listing in London with Sky News noting that the company is majority-owned by Ron Burkle, a billionaire from California who is the part-owner of the Pittsburgh Penguins hockey team and co-founder of private investment firm Yucaipa Companies.

Soho House's founder is Nick Jones, who opened the original location in the west end of London in 1995.

The company two years ago decided to raise capital privately instead of filing for an IPO, the report said.

The network includes 27 houses in 10 countries including the US, Germany, India, and in Hong Kong. It opened its first US-based house in 2003 in the Meatpacking District in New York City.

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