NEW YORK ( TheStreet) - What's happening in small business today?
1. Sequester deal fails. President Barack Obama and congressional leaders failed to come up with a deal to avert automatic spending cuts, Marketwatch reports.
The $85-billion in total spending cuts will begin taking effect on Friday. House Speaker John Boehner remained strong in his pledge to not raise taxes and said it's time to cut spending, Marketwatch says.
2. Groupon CEO fired. Amid terrible fourth-quarter earnings results, Groupon (GRPN) CEO Andrew Mason has been removed, the company announced Thursday.Mason will be replaced by Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis until a permanent replacement has been found, TheStreet's Chris Ciaccia reported. Groupon hasn't had an easy ride since going public. As the space for daily deals struggles, Groupon has changed its business model more towards a goods-selling business, pitting it against online retail giants, such as Amazon (AMZN) and Google (GOOG). 3. Why this entrepreneur decided to eliminate her company's work-from-home policy. Yahoo! (YHOO) CEO Marissa Mayer created a firestorm this week with her new no work-from-home policy. Nellie Akalp, CEO of CorpNet.com, a legal document filing services and a successful entrepreneur shares her reasons why she doesn't offer the option to her employees on Mashable. "I've found that there are certain benefits that only come from face time in the office. And at this point, these benefits outweigh any advantages of a telecommuting option," Akalp writes. Some benefits include: team cohesiveness and camaraderie, easier communication, increased productivity and more effective collaboration and creative brainstorming, Akalp says. -- Written by Laurie Kulikowski in New York. Follow @LKulikowski To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com. >To submit a news tip, email: email@example.com.
Follow TheStreet on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV