Dach, 58, joined Wal-Mart in August 2006 as executive vice president of corporate affairs, a newly created position, as anti-Wal-Mart attacks reached a fever pitch on all fronts, from how it treats its workers to how it hasn't taken enough responsibility for its environmental impact. The company's shares fell 20 percent from early 2005 to an eight-year low of $42 two years later. They currently trade around $73.
News Corp. to spin off publishing with $2.56 billion cash
NEW YORK (AP) â¿¿ News Corp. said Friday that it will spin off its publishing division with $2.56 billion in cash and no debt, giving it the means to invest in digital operations and acquire businesses.
The amount of cash the publishing unit will receive was included in a securities filing on Friday. The amount includes a payment of $1.82 billion from the parent company, to be renamed Fox Group. Another $741 million is already held in cash by the businesses to be spun off.
The separation of the publishing businesses from the TV and movie businesses is expected by June.
Google cutting 1,200 more Motorola jobs
NEW YORK (AP) â¿¿ Google is cutting an additional 1,200 jobs in its Motorola division as the unprofitable cellphone maker struggles to compete.
Last summer Google Inc. announced 4,000 Motorola job cuts. The latest reductions are in addition to those and will include the U.S., China and India.
When Mountain View, Calif.-based Google bought Motorola last year for $12.4 billion, Motorola had about 20,000 employees.
AP source: Google to pay $7M to settle Wi-Fi case
SAN FRANCISCO (AP) â¿¿ Google will pay a $7 million penalty to settle a multistate investigation into the Internet search leader's collection of emails, passwords and other sensitive information sent over wireless networks in neighborhoods throughout the country several years ago.