Hi, Kim here, your co-host from the MIDJersey Chamber of Commerce Business Hour Sundays at 10 a.m. on 107.7 The Bronc. This week we discussed General Motor’s $6 billion offer to buy Lyft, Buffalo Wild Wings and activist shareholders, whistleblower protections eliminated through fine print, and Google discontinuing their modular phones.
General Motors is determined to buy Lyft, a car service which rivals Uber, so much so that it is willing to put up $6 billion for the acquisition. However, Lyft upon this offer, initiated its sale to be issued to other potential buyers for the value of $9 billion. No others will take the bait; it seems that only GM can foresee what it can do with the future of the company. Once GM is through with Lyft, the cars may just drive themselves.
Buffalo Wild Wings is the target for “activist” shareholders, and no, they are not protesting the meat. Rather, activist shareholders seek to take control of a company through the acquisition of enough capital in order to alter internal operations through executive decisions. Apparently, the “bone” they picked with Buffalo Wild Wings was associated with a lack of transparency, accountability, and questionable management practices, such as the company purchasing its own franchises for the sake of increased revenue at the expense of capital. Buffalo Wild Wings may be too wild for the activist shareholder, and it is now time to reign them in.
Whistleblowers sign away their protections under private contracts, which though agreed to, is still not legal due to its opposition to laws designed to advocate such rights. Whistleblowers are able to receive compensation if the government finds the reported entity at fault, and even though retaliation protections have been instituted that would prevent occupational, psychological, or physical harm to come to the reporter, they have loopholes exploited by private companies in order to deter employees from speaking out.
Google discontinues its anticipated line of modular phones, in which customization of the devices was possible through the manufacturing of interchangeable parts. The extent of customization, however, would remain limited to a line of Google’s creation in order to be of proper size and fit, instead of extending to other brands as one could tinker with in a computer. Also, this project would include partnering with a multitude of manufacturers to obtain the variety of specialty parts required. It would appear now Google saves its customization for its searches; phones will have to take a backseat for now.
If you have an opinion on business then you want to tune in every Sunday at 10 a.m. to find out what interesting topics the MIDJersey Crew will be discussing next on The MIDJersey Chamber of Commerce Business Hour Sunday’s at 10 a.m. on 107.7 FM, online at 1077TheBronc.com and via our free Android and iOS apps.