Best Of FORBES: Colbert Leaving Personality Behind, More GM Woes

Apr 10 2014, 4:32pm CDT | by

GM recall mess keeps going from bad to worse and the news that the company is suspending two engineers is just the tip of the iceberg. It was also announced on Thursday that recall costs will soar to $1.3 billion. FORBES reporters have the scoop:

“General Motors has placed two engineers on leave as the car company investigates how vehicles with faulty ignition switches were able to remain on the road for years after problems were identified. In recent weeks GM has recalled 2.6 million cars related to the defect which has been linked to 13 deaths” — Samantha Sharf. Read GM Puts Two Engineers On Leave As Recall Investigation Continues

And in other news:

“There are going to be a lot fewer slings and arrows flying between Ebay and shareholder Carl Icahn, at least for a while, after the tech company and activist investor agreed to end their war of words” — Steve Schaefer. Read Ebay Makes Peace With Carl Icahn, Cuts Off Proxy Fight

“So much for Family Dollar’s expansion plans: less than a year after the dollar store chain announced its intent to expand its national footprint, the retailer is reversing course on the heels of a disappointing second quarter financial performance, announcing Thursday morning that it is closing nearly 400 stores, reducing the size of its workforce and, like the customers its serves, looking for other ways to save” — Maggie McGrath. Read Family Dollar Closing 370 Stores And Lowering Prices After Revenue Falls 6%

“Soon, facial recognition programs may help instantly inform us who’s who. Some new services are offering the first steps toward that reality, capabilities that have already stirred up controversy” — Adam Tanner. Read Scan Your Date’s Photo, Learn If He Is A Sex Offender

“The Securities & Exchange Commission appears to be waging a limited crack down on the trading of so-called pot stocks that has caused some of the most popularly-traded stocks in the controversial sector to crash on Thursday” — Nathan Vardi. Read SEC Halts Trading in GrowLife As Pot Stocks Get Crushed

“If you associate Walmart’s grocery aisles with cheap six-packs of sugary soda or bulk bags of chips, you’re in for a surprise when you next drop by a branch of the world’s largest retailer. Starting this month, the big box giant aims to drive down the price of organic food nationwide with its new in-house line of 100 or so products in exclusive partnership with Wild Oats, a pioneering health brand of the 1980s” — Clare O’Connor. Read Watch Out Whole Foods? Walmart Aims To Drive Down Organic Prices With New Cheaper Line

“Another day, another Internet security crisis. This time it’s a problem with the encryption protocol that many Internet sites use to protect their data. Yet again, users for whom the basics of Internet security are as obscure as the functioning of car engines are being told there are lots of “site lemons” out there and that they need to be careful” — Kashmir Hill. Read What’s Really Scary About Heartbleed

“CBS  announced today that Stephen Colbert will succeed David Letterman when he walks away from the Late Show at the end of this year. Colbert is best known for The Colbert Report, the hit fake news show in which he impersonates a right-wing blowhard” — Dorothy Pomerantz. Read Stephen Colbert Leaving Character Behind To Take Over David Letterman’s Late-Night Spot

 
 
 

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