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Here are all of Monday’s top stories:
General Motors Company (NYSE:GM) is reported to be mulling the end of Opel, even though it recently okayed a business plan and extended energy to negotiate labor difficulties in Germany. The fact that the chief executive of Opel was reassigned last week, has reignited chatter that the poor-performing brand might become automotive history.
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The decrease in building material sales in June to $23.65 million from $24.05 million in May, along with a disappointing retail sales report for the same month, have shares of Home Depot (NYSE:HD) and Lowe’s (NYSE:LOW) moving a bit down Monday.
Olympic Uniforms-Gate continues to pick up steam, as the furor over Ralph Lauren’s (NYSE:RL) manufacturing the official uniforms of the U.S. Olympic team in China, hit talk shows Sunday morning, which will now require that every politician make some sort of statement. In the past, the company considered making the uniforms as an honor, but now the whole thing is one big public relations nightmare; even the design are being panned as too “European.” What do they want, cowboy hats one more time?
Shades of Scott Thompson! Best Buy (NYSE:BBY) says that it will hire new 500 employees for its Geek Squad, but with the stipulation that each new member must hold an advanced degree. This new move follows the mass layoff of some 600 Squad members earlier this month and builds on an increasing concentration by the company into small business services, subsequent to its acquisition of MindShift Technologies.
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