In answer to the question my colleague Nikki Sein posed, “Can things get worse for the cruise ship industry?” If Costa Cruises’ most recent debacle is any indication, the answer […]
On Monday Darden Restaurants made news twice. It first announced the sale of its Red Lobster business to Golden Gate Capital for a cool $2.1 billion. Then it began the disposal of its chairman and CEO, Clarence Otis. Under pressure from shareholders, Darden took away his chairmanship and gave it to director Charles Ledsinger. Otis simultaneously announced his resignation as CEO by December or a successor’s appointment, whichever comes first. He has been at the top spot since 2004.
July 28, 2014
In an update last week, D&B Editor Tracey Panek discussed how entertainment software giant Electronic Arts (EA), along with most of the rest of the industry, is transitioning to digital platforms. In fiscal year 2014 (ended March), the company reported more than 25% growth in sales of digitally delivered games while sales of traditional packaged games fell about the same percent. Along with this shift, EA has condensed five labels (EA Games, EA SPORTS, BioWare, Maxis, PopCap, and All Play) into three (EA Studios, Maxis, and EA Mobile) and continues to publish fewer titles (from 30 in 2011 to a planned 10 in 2015).
Sporting goods manufacturers are feeling the hit since $3.5 billion was cut from US school sports budgets during the recession. In order to reduce costs, schools have cut back or eliminated some sports activities or adopted a pay-to-play model. The reduction in public spending for school sports programs may further hurt participation rates, especially among children in rural or low-income areas. About 60 percent of children must pay fees to participate in sports. Additionally, one forecast suggests that by 2020 more than 25 percent of US public schools will be without interscholastic sports programs.