Cruze recall started with Georgia accident, lawsuit
An October 2013 accident that left a Georgia woman blind in one eye and the lawsuit that followed were the impetus for General Motors’ recall of 33,000 Chevrolet Cruze sedans, according to Reuters. Experts told PRWeek this week that the automaker must focus on transparency and empathy and continue to use CEO Mary Barra as its lead spokesperson as it continues to rebound from the crisis caused by a decade-long delay in recalling Chevrolet Cobalts with faulty ignition switches.
Friday's surprising stat: $3.9bn
The value of high-definition video camera company GoPro after its first day of trading, when its stock price shot up 31%. As of Friday morning, GoPro has roughly the same value as Domino’s Pizza, according to The Wall Street Journal.
Check out the monumental moments captured on Wall Street this morning. pic.twitter.com/bORkPaPgq9— GoPro® (@GoPro) June 26, 2014
Alibaba picks NYSE for IPO
For what is expected to be the largest tech-sector IPO in history, Alibaba said Thursday that it will trade on the New York Stock Exchange, using the symbol BABA. The e-commerce giant would be the largest company from China to list on a US exchange.
Lauer defends ‘mom’ questions to Barra
Today host Matt Lauer defended asking GM CEO Mary Barra whether she could be a good CEO and mother at the same time in a Thursday morning interview, a line of questioning that drew immediate blowback. Lauer said he was referencing a Forbes article where Barra addressed the subject.
How American Apparel’s board broke the news to Dov Charney
The New York Times detailed how members of American Apparel’s board met over dinner to discuss how they would give CEO Dov Charney the news that he would have to resign or be fired. When they did issue the ultimatum to the controversial CEO after an investigation, a nine-hour meeting ensued.
Obama pre-midterm strategy: Meet with regular folks
Facing months of poor polls and some projections that the Republicans will retake the Senate in November, part of President Barack Obama’s strategy is to make contact with regular people around the country. On Thursday, he was in Minnesota, where he met with a young accountant struggling to make it, conducted a town hall meeting, and criticized Republicans for focusing on "phony scandals."
Quote of the day:
"We’re in San Francisco, so we expect that."
-Google CEO Larry Page to The New York Times on protests about "Google buses" and other inequality issues in the Bay Area.