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Author Archives: tfitzpatrick

Boy Scouts’ future uncertain after bankruptcy filing

The Chapter 11 filing in federal bankruptcy court in Wilmington, Delaware, sets in motion what could be one of the biggest, most complex bankruptcies ever seen. Scores of lawyers are seeking settlements on behalf of several thousand men who say they were molested as scouts by scoutmasters or other leaders decades ago but are only now eligible to sue because of recent changes in their states’ statute-of-limitations laws.

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GM plans to pull out of Australia, New Zealand and Thailand

The company said in a statement Sunday that it plans to wind down sales, engineering and design operations for its historic Holden brand in Australia and New Zealand in 2021. It also plans to sell its Rayong factory in Thailand to China's Great Wall Motors and withdraw the Chevrolet brand from Thailand by the end of this year.

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As Walmart grows in e-commerce, investors look for a plan to stem the losses

The Bentonville, Arkansas-based retailer is spending heavily to compete against Amazon. It’s seen that pay off with significant sales growth, especially in its grocery business. Walmart’s e-commerce sales in the U.S. grew by 41% in the third quarter — its strongest quarter reported so far in fiscal 2019 — and the company estimated online sales would grow by 35% for the full year. It will report earnings for the fourth quarter Tuesday.

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