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Bunker Labs veterans program set for Sept. 15 and more business news
Chattanooga Times Free Press - 9/9/2022
Sep. 9—Bunker Labs veterans program set for Sept. 15
Military veterans interested in launching or growing their business with the support of the Bunker Lab network may learn more about the program at 5:30 p.m. next Thursday, Sept. 15 at the Tap House & Empyreal Brewing Co. in St. Elmo.
The Bunker Labs Veteran in Residence Business Growth Program offers a business incubator for early-stage startups and growth-oriented small businesses and will be discussed at the Sept. 15 program.
To register go to bit.ly/3L2HW4s.
CBL adopts limited stockholder rights pact
CBL Properties has adopted a Stockholder Protection Rights Agreement and declared a dividend of one right on each outstanding share of CBL common stock.
The adoption of the agreement on Thursday is intended to protect the long-term interests of CBL and CBL shareholders, and enable them to realize the full potential value of their investment in the company, CBL said in a statement.
The agreement is designed to reduce the likelihood that any entity, person or group would gain control of, or significant influence over, CBL, through the open-market accumulation of the company's shares, private purchases or otherwise, without appropriately compensating all CBL shareholders for control at a full and fair price in a transaction that is in the best interests of the company and its stockholders, the company said.
"We have made significant strategic and operational progress since emerging from bankruptcy in November 2021," Stephen Lebovitz, CBL chief executive officer, said in a statement.
He said the agreement is not intended to preclude discussions or engagement with parties regarding value-creation opportunities for CBL. Furthermore, it will ensure that the board and management can properly evaluate and implement business and operational strategies that maximize value for all of CBL's shareholders, Lebovitz said.
The record date to determine stockholders entitled to receive the rights is Sept. 22.
Did U.S. airline boost resignations?
Two key lawmakers want the government to investigate whether airlines used federal pandemic-relief money to encourage employees to quit.
The lawmakers said Friday that taxpayers helped the airline industry during their darkest days at the start of the pandemic, and they deserve to know how the money was spent. Airlines received grants totaling $54 billion to keep workers on the job during the pandemic.
Airlines were barred from laying off workers, but they encouraged thousands to quit by taking buyouts or early retirement. Airlines were caught short-staffed when travel bounced back earlier this year, contributing to widespread flight delays and cancellations.
Burger King plans $400 million update
Burger King plans to invest $400 million in its U.S. restaurants over the next two years to update its stores and boost flagging sales.
The burger chain said Friday the investment includes $250 million to revamp stores and update technology and kitchen equipment and $120 million for heavier advertising.
The moves come after several years of disappointing sales at Burger King's 7,058 U.S. stores. Wendy's overtook Burger King as the No. 2 U.S. fast food chain by sales in 2020 and held on to that spot last year.
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