BizFeed: Macy’s Drops Donald Trump
Sorry Donald, maybe you can’t insinuate that most Mexicans are rapists. (Albert H. Teich / Shutterstock.com)
1. Macy’s Drops The Donald
The News: Macy’s has decided to dump Donald Trump and his menswear line. Ties and shirts branded with the Trump name have been sold in the popular department store since 2004.
It comes after Trump’s presidential announcement where he said that Mexicans “are bringing drugs. They’re bringing crime. They’re rapists. And some, I assume, are good people.”
USA Today has more: “In a statement, the retailer denounced recent derogatory comments about Mexican immigrants made by real estate mogul and GOP presidential candidate Donald Trump, saying that they have “no tolerance for discrimination in any form. ‘We welcome all customers, and respect for the dignity of all people is a cornerstone of our culture.’ ”
Why It Matters: Trump may have thought he was pandering to the conservative base by taking a tough stance on immigration, but insinuating that most Mexicans are rapists isn’t good for business. (See 11:20 of this video)
Trump, of course, tweeted angrily.
Interesting that @Macys criticized me but just paid $650,000 in fines for racial profiling. Are they racists?
— Donald J. Trump (@realDonaldTrump) July 1, 2015
Who is @Macys to pretend innocence when they “racial profile” all over the place? Paid big fine!
— Donald J. Trump (@realDonaldTrump) July 1, 2015
2. Valley Forge Casino Resort Names New CEO
The News: Valley Forge Casino Resort has named James A. Rigot as president and CEO. He’s worked all over the place, including the Foxwoods Resort Casino, Borgata Hotel Casino and Spa, and Parx.
Why It Matters: Rigot joins a casino on the upswing, particularly with regard to slots. In fact, the Times Herald recently reported that Valley Forge was “the only casino in Pennsylvania that saw an increase in slot revenue in 2014 — up more than $10 million over the previous year — according to the Pennsylvania Gaming Control Board.”
And even though it just spent $600,000 to build the new Valley Beach Poolside Club, Rigot is set on “enhancing the property and its amenities,” according to a statement.
“While this is an incredibly competitive industry, I could not be more excited to take the lead at a property with so much positive momentum,” Rigot said. “I’m thrilled to be able to put my experience to work at Valley Forge Casino Resort to continue to build on our strong business success and exceed our guests’ expectations.”
3. Apple to Pay $450 Million in Alleged E-Book Price Fixing Scam
The News: The Second U.S. Circuit Court of Appeals in Manhattan voted to uphold a 2013 decision finding that Apple price-fixed e-books. The tech giant will now have to pay $450 million to e-book buyers, according to Fast Company.
Why It Matters: The court found that Apple colluded with five publishing companies and was likely an effort to content with Amazon‘s rising marketshare in the book industry.
The Wall Street Journal explains: “The case laid bare Apple’s efforts to gain a foothold in a market that Amazon.com Inc. commanded in 2010 with between 80% and 90% of all e-book sales. At the time, publishers were dissatisfied with Amazon’s aggressive discounts. Apple’s agreements ceded the power to set prices to the publishers, in what’s known as an agency model. But there was an exception: If another retailer was selling an e-book at a lower price, the publisher would have to match that price in Apple’s bookstore.”
The $450 million? That represents just 3 percent of the company’s quarterly profits, the WSJ said.
