FILE PHOTO - The unmanned delivery vehicle, Nuro, is seen during the Kroger annual shareholders meeting in Cincinnati, Ohio, U.S., June 28, 2018. Picture taken June 28, 2018. Courtesy of Kroger/Handout via REUTERS (Reuters) - Autonomous technology startup Nuro said on Monday it raised $940 million from SoftBank Group Corp, which valued the Silicon Valley-based company at $2.7 billion. Nuro was co-founded in 2016 by two former engineers of Google’s self-driving car project, Dave Ferguson and Jiajun Zhu. The funding by SoftBank came through its $100-billion Vision Fund, which usually picks up big stakes in fast-growing technology companies. Last year, Nuro launched a self-driving delivery vehicle to run errands from picking up groceries to delivering dinner, and partnered with U.S. supermarket chain Kroger co to extend its services. The firm, which largely operates in the San Francisco Bay Area, said it will use the funds to expand its delivery service to new areas, … [Read more...] about Driverless delivery startup Nuro gets $940 million SoftBank investment
Cincinnati investment firms
By Ruth Simon WSJ Sun., Feb. 10, 2019 Nearly a year after the U.S. imposed tariffs on imported steel, the higher prices have been a godsend for Byer Steel Co. The family-owned Ohio company last year posted its first profit in four years and surprised workers with year-end bonuses. The tariffs “are giving us the ability to get off our knees for a minute,” said Burke Byer, whose great-grandfather founded the Cincinnati company a century ago. “We’re not so hand-to-mouth.” The same tariffs have pinched another small family business: Laclede Chain Manufacturing Co. The St. Louis-based maker of steel chains had been on a growth spurt before higher steel prices forced it to refocus on cost cutting. Surcharges have helped offset higher raw-material costs but don’t “make us whole,” said Tim Riley, president of the 165-year-old company. Laclede put off plans to add a third shift at its Vicksburg, Miss., plant and delayed a $1 … [Read more...] about A Tale of Two Steel Firms and Their Diverging Paths Under Trump’s Tariffs
Billionaire investor Paul Tudor Jones cofounded the nonprofit Just Capital in 2013 to measure what Americans want from corporations, and which of these corporations are contributing to a “more just” society. Just issues an annual ranking of the world’s largest corporations based on how they are creating long-term value in the United States through strong relationships with employees, customers, and society at large. This year’s ranking lists companies like Microsoft, Intel, and Procter & Gamble at the top. This article is part of Business Insider’s ongoing series on Better Capitalism. Billionaire investor Paul Tudor Jones recognised years ago that corporate social responsibility could be more than a buzzword. In a 2015 TED Talk, he explained: “Now, over the past 50 years, we as a society have come to view our companies and corporations in a very narrow, almost monomaniacal fashion with regard to how we value them, and we have put so much … [Read more...] about 15 major companies that treat employees well, value customers, and invest in their communities
By Heather Haddon The Wall Street Journal Thu., Dec. 6, 2018 Kroger Co.’s profit margin is getting pinched as the grocer ramps up investments to compete in the cutthroat U.S. grocery market. The Cincinnati-based company, in an effort to expand beyond its traditional business of selling groceries in stores to compete with Amazon.com Inc. and others, has struck six deals this year to boost sales online and elsewhere, such as in Kroger-branded locations in select Walgreens Boots Alliance Inc. pharmacies. “We’re moving from a traditional grocer to a growth company,” Kroger chief executive Rodney McMullen said in a statement on Thursday. But investors are watching how Kroger’s efforts pressure profits. The nation’s largest supermarket chain by stores and sales on Thursday reported a net profit of $317 million (U.S.), or 39 cents a share, compared with $397 million, or 44 cents a share, a year ago. Overall sales declined slightly to … [Read more...] about Kroger’s profit squeezed by investments to transform business
By Matt Schneidman | [email protected] | Bay Area News Group PUBLISHED: October 18, 2018 at 6:00 am | UPDATED: October 18, 2018 at 10:05 am The real Jon Gruden has disappointed this season, to say the least, but the fake Jon Gruden has been right on point. While the 55-year-old trades his best player, leads the Raiders to an underwhelming 1-5 start and inspires fans to make a website counting down the milliseconds until his 10-year contract expires, a 26-year-old public relations and content specialist at a real estate investment firm in Ohio takes advantage. Justin Greear created the Jon Gruden Twitter parody account before the 2014 season, after his Tim Tebow parody account ran out of gas with Tebow fading from the spotlight. Greear picked Gruden as another iconic personality the masses knew from his gig as Monday Night Football color commentator, and the account gained 100,000 followers in just three months. Now @Faux_Gruden has over 348,000 followers, combining … [Read more...] about Who’s behind the Jon Gruden Twitter parody account?