Volkswagen Recalls Beetles, Whole Foods Okays New Repurchase: Consumer Biz Report
Volkswagen (VLKAY.PK) recalls around 2,500 Beetles that were built between February and August, because of the possibility that the front passenger seat air bag might inflate and injure a small child. This move affects both 2012 and 2013 Beetles with leather sport seats. The problem was discovered in routine factory inspections.
Jamba (NASDAQ:JMBA) has for a while said that it is developing a new “juice-forward” concept, as three locations are set to debut in Northern and Southern California and New York n 2013. Chairman, President and Chief Executive James White has leaked some details of the plan to Nation’s Restaurant News, commenting that the new concept stores will feature variations in format, and perhaps a juice-only concept; the remakes will ultimately be applied to existing stores as well.
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The Walt Disney Company (NYSE:DIS) will shut down its Web movie service, Disney Movies Online, as of December 31st according to the Associated Press. The company says that the site was not keeping up with user demands, but it has not commented as to when Disney Movies Anywhere, the expected replacement service, will be introduced.
In a Tuesday press release, Whole Foods Market (NASDAQ:WFM) said that its Board has okayed an additional $300 million of stock repurchase authority through December 31, 2014. Currently, the firm has around $171 million of remaining authority under its existing program through November 1, 2013. As of last Friday Whole Foods had about 185.5 million shares outstanding. The $471 million combined authorization comprises roughly three percent of shares outstanding at the current stock price.
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