THE NEWS WRAP: Colorado kills 1,000+ jobs
Tuesday, June 14, 2011/
The receivers of the Colorado Group have announced that 140 underperforming stores will be closed, affecting 1,042 staff.
The company will have no presence in the struggling New Zealand retail market, and there will be no Colorado-branded stores remaining, although some Colorado-branded footwear will be sold online and through Mathers and Williams outlets.
Colorado was owned by Australian Equity Partners after being bought out for $430 million in 2006. The retailer’s receivers are trying to sell the remainder of the business, and say they have received more than 70 expressions of interest.
Google sinks $US280m into solar
Google is investing $US280 million to help finance home solar projects, in the internet giant’s largest effort yet to promote clean energy.
Google says the money will go to create a fund that will help SolarCity, a company which provides solar energy options for homeowners and businesses, to finance more solar installations across the United States.
“We continue to look for other renewable energy investments that make business sense and help develop and deploy cleaner sources of energy,” Google’s Rick Needham says.
NZ billionaire Graeme Hart continues spending spree
New Zealand billionaire Graeme Hart has launched a $US1.6 billion bid for a US plastics company, making it his 10th acquisition in six years.
Over the past six years, Hart has spent more than $US15 billion on a series of high leveraged deals. His latest bid has reignited speculation that he plans to float a global packaging group with a market value of $20 billion.
The Australian dollar was over half a US cent higher this morning. Just after 6am, the Australian dollar was trading at US106.88 cents, up from US106.35 cents at close on Tuesday.
The local currency reached US110.11 cents on May 3, a record high since the currency was floated in December 1983.
Be honest about your situation: How vulnerability helps businesses thrive Sue Parker DARE Group founder
Own it: The 10 things you need to do to manage your personal brand Lisa Stephenson Who Am I Projects founder
Six invaluable lessons: What 20 years in aged care taught me about being an entrepreneur Natasha Chadwick NewDirection Care founder
An entrepreneurial superpower: Eight tips to help develop resilience Adala Bolto ZADI Training co-founder
Going through a lull? Five areas you should invest in when sales drop Tamara Alaveras and Sonia Majkic 3 Phase Marketing co-founders
Stop telling us how busy you are, it's boring and charmless Ian Whitworth Scene Change co-founder
Blandification™ and the state of modern branding Jeffrey Oley The Offices co-founder
Why you should find the right role for the right person — not the other way around Bruce Stronge Outfit founder