Last week, when the CEO of drugmaker Mylan was testifying before Congress, Rep. Jason Chafee of Utah spoke for the American people when he wondered whether the company actually earns only $52 profit per pen when the retail list price is $608 each. The company has now clarified its answer: that $104 per two-pack figure is Mylan’s profit after taxes. Before taxes, the profit is $88 per pen, or $166 per two-pack. [More]
It’s not every day that you get a package out of the blue from someone you’ve never met, containing an expensive (looking) watch. So when that exact situation happened to a California woman recently, she had a sneaking suspicion that something was fishy — and she was right. [More]
The Walt Disney Co., the well-known operator of theme parks, movie production studios, and cable television networks could soon be a huge player in social media — at least according to reports claiming that Big Mouse is working on a bid for Twitter. [More]
A Verizon Wireless employee has pleaded guilty to violating federal law by selling customer phone records and location data to a private investigator, starting at a measly $50 a month. [More]
No good deed goes unrewarded, or so they say, and if you’re lucky, that reward might just come in the form of free pizza. For a year. [More]
Stop us if you’ve heard this one before: there’s a drug out there that does a very specific thing, and has no generic alternative. For years, it sold for a predictable three-figure price point. Then one day, if gets acquired by a new company and in just a few months, the price increases by more than 4000%. It is, unfortunately, such a common tale of late that we all know the general outline by heart. And now it seems to be happening again.
When what your customers want are corduroys, sweaters, and the occasional work-appropriate dress, maybe trying to expand and attract more fashion-conscious customers was never going to work. Less than two years ago, Lands’ End, the retailer of preppy clothing and canvas tote bags that is not L.L. Bean, hired Federica Marchionni, the president of Dolce & Gabbana USA, to be its CEO with the goal of creating a “global lifestyle brand.” [More]
Days after lawmakers urged the Department of Labor to investigate Wells Fargo’s actions against employees after workers of the banking giant claimed they were fired and otherwise mistreated if they failed to meet strict sales quotas that ultimately resulted in the opening and closing of two million unauthorized consumer accounts, some former employees have come together to file a class action lawsuit against the company. [More]
Seven people in four states have become ill after eating red meat found to be contaminated with E. coli, prompting the recall of thousands of pounds of beef, veal, and bison from Adams Farm Slaughterhouse over the weekend. [More]
In the three days since reports began to surface that Twitter was looking to sell itself — possibly to Google or professional networking site Salesforce — rumors, ranging from a $16 billion list price to a sale happening right this minute, have heated up significantly. [More]
One of Google’s self-driving vehicles has been involved in another crash while cruising the streets of Mountain View, CA, the company confirmed, after another driver ran a red light and crashed into the Lexus RX 450h. [More]
There are all kinds of annoyances involved in flying, whether it’s that jerk in front of you who slammed his seat back into your knees or the fees you pay to check a bag and select your seat. But one of the most infuriating things for passengers these days? Not knowing how much your airfare will cost by the time all is said and done.
We’ve known for a while that AT&T plans to launch an online-only version of DirecTV in the coming months, but even though it shares the same brand name as the nation’s biggest satellite-TV provider, it is not being marketed as a replacement for satellite. However, a recent report claims that AT&T’s long-term goal is to eventually migrate the entire DirecTV customer base online. [More]
Ever looking inside a West Elm catalogue and just wanted to curl up on the masterfully made bed or read a book on stylish chaise? Soon you can, as the home furnishing company plans to launch a chain a boutique hotels instead of more bricks-and-mortar stores. [More]
Upon hearing the news this morning that American Apparel CEO Paula Schneider was resigning from her post, we couldn’t help but feel a twinge of deja vu. After all, she’s far from the first top executive to cause a stir with a sudden departure. [More]