Tuesday, 29 Sep 2020

Kohl’s Cuts 15% Of Corporate Jobs

Simon Not To Open On Thanksgiving Day

Mall owner Simon Property Group (SPG) Tuesday announced that it will not open properties on Thanksgiving Day.

“In these challenging times, we made the decision that we will not open on Thanksgiving Day, instead allowing our associates to spend the holiday with their loved ones,” said David Simon, Chairman, Chief Executive Officer and President of Simon.

Simon properties will be open on Black Friday.

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company. Simon is the largest mall operator in the United States.

Consumers have been increasingly preferring to shop Thanksgiving and Black Friday deals online, rather in stores. Last year, Thanksgiving Day online sales hit a record $4.2 billion.

Giants, Mariners Game in Seattle Postponed Due to Poor Air

Tuesday night’s game between the San Francisco Giants and the Mariners in Seattle has been postponed due to air quality. The games will be rescheduled in San Francisco for Wednesday and Thursday.

The move comes as Major League Baseball receives scrutiny for playing games with poor air conditions as the smoke from the Northwestern wildfires spread. NBC first reported on the game delay.

The air quality in Seattle was at 249, which is deemed “very unhealthy,” as of 5:40p.m. ET, according to Airnow.Gov.

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Veteran Lit Agent David Kopple Joins Management 360

David Kopple is joining Management 360.

Kopple comes to the management company from CAA, where he worked with such creatives as Narcos exec producer José Padilha, Scott Alexander and Larry Karaszewski, The Hunt Craig Zobel, ZeroZeroZero show runner  Pablo Trapero Peter Sollett , Adam Robitel, Joe Swanberg, Emily Jerome and John Curran. These clients are expected to continue to be managed by Kopple and are also expected to stay at CAA

“We have long admired David as a person with great integrity, a keen eye, and an entrepreneurial spirit.  We’re thrilled to welcome him to 360 and look forward to collaborating with him and his clients in exciting new ways,” said the Management 360 partners in a joint statement.

Kopple had been with CAA since 2010.

 

Naomi Osaka Thanks Hater Who Told Her To ‘Keep Politics Out Of Sports’

Tennis star Naomi Osaka wants to say something to the people who criticized her for making political statements during the U.S. Open tennis tournament: Thank you.

The 22-year-old won the Open this past weekend and also won the respect of millions by wearing facemasks featuring the names of Black victims of racial injustice and police brutality, such as Breonna Taylor, George Floyd and Trayvon Martin.

But there were apparently some critics as well, based on a tweet Osaka sent on Tuesday calling out people who want to keep pro sports walled off from the rest of the world.

As you can see from her tweet, Osaka credits her win to her haters and promised to double down on what she says is “a human rights issue.”

Osaka’s tweet netted a lot of positive responses.

Cargill Bets on China With Deal to Buy Another Soy Crush Plant

Cargill Inc., the world’s largest agricultural commodities trader, is betting on China with the acquisition of a new soy-processing plant.

The agribusiness giant that’s also America’s largest privately-held company won a bid in judicial auction for the assets of Shandong Xinliang Oils & Fats Co., a spokesman for Minneapolis-based Cargill confirmed by email Tuesday. The final bid price was about $62 million.

The move comes less than a year after the trader bought the 34% stake it didn’t already own in Hebei Jiahao Grain and Oilseeds Co., another soybean processing plant in China, from its joint-venture partner. At the time, the company said it was committed to long-term development in the Asian nation.

The acquisitions are boosting Cargill’s footprint in the world’s top soybean importer, which come at a time demand for soybean meal, a key ingredient in animal feed, is on the rise. The hog herd in China, the top pork consumer, is recovering faster than analysts expected, increasing demand for feed.

Kohl’s Cuts 15% Of Corporate Jobs

Kohl’s Corp. (KSS) disclosed in a regulatory filing on Tuesday that it reduced corporate jobs by about 15 percent, as it looks to save cash due to the business impact resulting from the COVID-19 pandemic.

According to reports, the department store operator cut jobs at its headquarters in Menomonee Falls, Wisconsin, as well as offices in New York and Milpitas, California.

The retailer expects pre-tax costs of about $23 million for the restructuring actions, the majority of which will be recorded in the third quarter of 2020.

The company expects the job cuts will save it about $65 million per year.

Together with its February 2020 restructuring actions, the company expects to save more than $100 million per year, the retailer said in a statement.

Kohl’s said in February that it would lay off 250 jobs. The lay offs included an entire “layer” of regional store leadership positions and restructuring teams in its merchant organization.

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