(small business story updated for Turner Media announcement of Bleacher Report acquisition)
NEW YORK (TheStreet) -- What's happening in small business today?
1. This is every startup's dream. Four high school friends are celebrating the acquisition of their website by a major media company.
Time Warner's (TWX) Turner Media announced its acquisition of sports site Bleacher Report after months of talks.
The news was first reported early Monday by AllThingsD.Bleacher Report was founded by four high school friends and lifelong sports fans in 2006, three of which are still at the company. Turner did not disclosure the price, though Bloomberg reported the deal to be worth just under $200 million. 2. Some shop owners in London are saying the Olympics hasn't been the boon to business they were expecting. According to BBC News, the streets of London have been noticeably more quiet, suggesting that the Olympics may be deterring customers of the small businesses that reside there. Ahmed Waqas ordered extra stock for his souvenir stall nearby to take advantage of the expected Olympic business boom. But sales at the end of July have been a disaster, the store owner told the BBC. "It is so quiet. The tourists suddenly disappeared in the third week of July and they aren't coming back." Others say that businesses were being too complacent by simply expecting customers to shop there, while those closer to the Olympic park have been creating buzz around their merchandise to bring customers in. However, the organizers of the Olympic Games seemed to shrug the issue off. "It is not unusual for host cities to experience some displacement at Games time, with transport busy at unusual times across the network and retail footfall and spend in uncommon areas," a spokesperson told BBC. 3. Choose the best retirement plan solution for your business. Implementing a retirement plan at your company can be easier than many small business owners believe. There are a number of retirement programs that provide tax advantages to both employers and employees. The National Federation of Independent Business is hosting a webinar on Wednesday, August 8 at 12pm ET to discuss retirement plan options for the private sector small businesses. The webinar is free to both NFIB members and non-members. During the presentations by Internal Revenue Service representatives, participants will learn more about IRAs, defined contribution plans and defined benefit plans to compare eligibility/coverage, contributions, vesting and withdrawal requirements. -- Written by Laurie Kulikowski in New York. To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. To follow Laurie Kulikowski on Twitter, go to: http://twitter.com/#!/LKulikowski >To submit a news tip, email: firstname.lastname@example.org.
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