Big Business
Associated Press/Photo by Sue Ogrocki

Amazon rings up big changes in the food business

by Nick Eicher
Posted 6/19/17, 11:44 am

Amazon announced late last week it would spend $13.7 billion to buy upscale grocer Whole Foods, almost 20 percent more than the company is worth right now. Two factors made Whole Foods ripe for purchase: First, it’s been suffering from falling sales. Second, an activist Whole Foods shareholder has been pressuring the board to sell. The move could create a sea-change in the way Americans buy groceries. Prodded by Amazon, a great deal of purchasing has migrated online.

Read more

Pat Canova/Alamy

A costly closure

Business | The liquidation of Family Christian Stores left publishers and lenders to absorb millions in unpaid debt
by Lynde Langdon
Posted 5/23/17, 02:56 pm

The news earlier this year that Family Christian Stores would close its more than 240 retail shops startled many of its customers. But it didn’t surprise anyone familiar with the company’s recent history. Despite receiving forgiveness for more than $80 million in debt two years ago, the company still couldn’t pay all of its bills.

The closing of Family Christian Stores left suppliers, including Christian book publishers, on the hook to absorb millions of dollars in losses.

Read more

Associated Press/Photo by Pablo Martinez Monsivais

Mylan CEO defends EpiPen price hike before Congress

Medicine | Lawmakers vent bipartisan anger at high cost of life-saving drug
by Jae Wasson
Posted 9/21/16, 06:37 pm

Angry members of Congress today grilled Heather Bresch, CEO of the drug company behind the lifesaving EpiPen, about the possibility that her company makes huge profits off the needs of patients.

Read more