CHARLOTTE, N.C. (AP) — Michael Jordan is adding two partners to the Charlotte Hornets' ownership group. Gabe Plotkin, founder and chief investment officer of Melvin Capital, and Daniel Sundheim, founder and chief investment officer of D1 Capital, have joined the Hornets as partners, pending NBA approval. Jordan, a six-time NBA champion, will remain the majority owner. Jordan said in a statement released by the team Saturday that he'll continue "to run the Hornets, make all decisions related to the team and organization, and remain the team's NBA Governor." Jordan says "Gabe and Dan's investment in the franchise is invaluable, as we continue to modernize, add new technology and strive to compete with the best in the NBA. Both Gabe and Dan are industry standard-setters and proven leaders, with a belief in philanthropy and a passion for the game of basketball." ___ More AP NBA: https://apnews.com/NBA and https://twitter.com/AP_Sports … [Read more...] about Michael Jordan says Hornets add 2 partners
business
U.S. railroad traffic and freight volume shipments slump
Railroad traffic and freight volume shipments are dropping below levels seen around this same time in 2016, 2017 and 2018, data from the Association of American Railroads shows. Why it matters: An efficiency strategy called precision scheduled railroading (PSR) could be North American railroads' "last hope for continued profit growth," Barron's magazine reports — amid concerns of global economic slowdowns, a trade war and recession across the U.S., particularly in Michigan, Hawaii, Montana, Maryland and Louisiana. PSR "uses departure schedules and point-to-point delivery methods to achieve low operating rations and consolidate railroad networks," according to breakthroughfuel.com. In July, rail transportation and real estate company CSX "reported a drop in its last quarter's revenue and warned of a decline in the year's freight volumes," writes Barron's — but CSX shares have recovered nearly half of the 20% they lost following the company's warning. The bottom line, … [Read more...] about U.S. railroad traffic and freight volume shipments slump
Executive has plan to turn Spotify into ultimate podcast hub
Under Dawn Ostroff, Spotify’s chief content officer, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February. Under Dawn Ostroff, Spotify’s chief content officer, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February. Photo: Shannon Finney / Spotify Photo: Shannon Finney / Spotify Image 1 of / 3 Caption Close Image 1 of 3 Under Dawn Ostroff, Spotify’s chief content officer, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February. Under Dawn Ostroff, Spotify’s chief content officer, the number of podcasts available on Spotify has grown to more than 450,000 titles, up from 185,000 in February. … [Read more...] about Executive has plan to turn Spotify into ultimate podcast hub
G.M. and Autoworkers in Talks on New Labor Contract
General Motors and the United Automobile Workers were working to hammer out a new labor agreement on Saturday in the final hours before their current contract expires. G.M. is seeking ways to lower health care and other costs, while the union hopes to get the automaker to produce more vehicles in plants in the United States and to reopen a car factory in Lordstown, Ohio, that was idled in March. The union is focusing its negotiating efforts on G.M., while putting talks with Ford Motor Company and Fiat Chrysler Automobiles on hold. The current four-year contracts with each manufacturer expire at 11:59 p.m. Saturday. On Friday, the U.A.W. reached agreements with Ford and Fiat Chrysler to extend their contracts indefinitely as the union bargains with G.M. If the two sides fail to reach a tentative agreement before the deadline, they could agree to extend the discussions, or the union could choose to strike at G.M. plants. G.M. closed the Lordstown plant, and others in Baltimore and in … [Read more...] about G.M. and Autoworkers in Talks on New Labor Contract
One of the last music stores in San Francisco is closing
A steady string of customers entered the Haight Ashbury Music Center on a sunny September morning, some of them traveling from afar to check the instruments on display. The yellow discount tags were a draw, but so, too, was the chance to express sadness and dismay at the impending loss of a cultural mainstay of San Francisco. “This is absolutely sad,” said Jessica McKinnon, a musician visiting from Australia. “This is my first trip to the U.S., and I made sure when I was in San Francisco, I’d come here.” Julio Matos, who was visiting from Los Angeles with his daughter Julia, bought an electric guitar, a blue Fender 66, that was on sale. “As a musician, guitars or any instrument tend to speak to you when you put your hands on it,” he said. “These stores allow you to do that, and only then can the perfect instrument hit you like a bolt of lighting. It’s sad the store is closing.” The two-story store, where guitars, accordions, … [Read more...] about One of the last music stores in San Francisco is closing