Nordstrom ends bid to take private by Nordstrom family
Nordstrom abandons plans to take the retailer private after a special committee rejected an about 8.4 billion offer or 50 a share. The board says it will focus on market share, product refining, service improvements, and brand leverage as a potential new bid could still arise. The Nordstrom family controls roughly 31 percent and co presidents Blake Peter and Erik Nordstrom led the push alongside independent directors Gordon Smith and Stacy Brown-Philpot.
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Starbucks vows to reinvent cups for recycling drive
Starbucks pledges a 10 million three year program to back cup recycling and composting initiatives as environmental groups press for broader change. The Seattle based company aims to double recycled hot cup content by 2022 and push for municipal recycling rules while advancing a recyclable paper cup design.
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