General Motors and driverless cars… General Motors is accelerating its push into self-driving cars by acquiring Cruise Automation, a startup that has developed a system for retrofitting existing vehicles with autonomous-driving software.
GM cited Cruise’s “deep software talent and rapid development capability” in announcing the acquisition Friday. Terms of the deal were not disclosed but the Wall Street Journalreported that, according to people familiar with the matter, the price is more than $1 billion in cash and stock. Read article.
CFO loses job… Barrett Business Services has disclosed that it fired CFO James D. Miller after learning that he made “unsupported journal entries” in financial records during each calendar quarter of 2013.
The staffing solutions provider said in a regulatory filing Wednesday that Miller notified its audit committee on March 3 that he had overstated some costs by about $12 million and understated its workers’ compensation expenses by roughly the same amount. Read article.
For the 12-month period ending in February, the deficit was about 2.2% of GDP, down from 2.8% of GDP a year earlier.
The startup aims to attract investors that don’t want to buy its whole loans or asset-backed securities directly.
The call-center software company plans to execute a restructuring that would eliminate $320 million in debt and equitize another $60 million.
John Graham of Duke University discusses the results of the first quarter’s Duke University/CFO Global Business Outlook Survey.
Mario Draghi announces stronger than expected measures to awaken the eurozone from its economic slumber.
The purchase of ISE would give Nasdaq command of more than 40% of the market in options exchanges.
In addition, S&P 500 CEOs who held both the chairperson and CEO slots were paid 29% more on average, says Institutional Shareholder Services.
‘Uni-Pixel and top executives portrayed a company whose technology had arrived when in truth it was still in the developmental stage,’ said the SEC.
The ailing internet company’s board adds some financial muscle with the appointment of two new directors.
Houghton Mifflin, American Eagle Outfitters, Paramount, SpartanNash, Reinsurance Group, Xylem, Fairmount Santrol, Dana, Crown Castle, Lattice Semiconductor
“You can’t go around … helping rig one of the most important markets in the world and not pay the price,” a judge says.
Prices have risen to more than $40 a barrel in recent days amid a drop in both OPEC and non-OPEC production.
Aequitas Management’s ex-CFO and other top executives allegedly raised $350 million from investors while concealing the group’s dire financial problems.
Barrett Business Services stock plunges 33% after it discloses James Miller made ““unsupported journal entries” in financial records.
The automaker says Cruise Automation will provide it with “a unique technology advantage” in the race toward autonomous driving.
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