Business News

AM Business Notebook

>>GM Recalls 40,000 Chevy Trucks For Break-Pressure Sensor Issue

(Detroit, MI) -- General Motors is recalling more than 40-thousand Chevrolet medium-duty trucks due to a problem with the break-pressure sensor that raises the risk of fire. Federal regulators say a faulty assembly could leak brake fluid and cause an electrical short circuit. The recall covers Chevrolet 4500HD, 5500HD and 6500 model trucks from 2019 to 2023. GM is advising owners to park their trucks outside until dealers have the parts to fix them free of charge. GM said it's not aware of any accidents or injuries related to the issue.

 

>>Bed Bath And Beyond Files For Bankruptcy

(Union, NJ) -- Big box chain Bed Bath and Beyond filed for chapter 11 bankruptcy Sunday. The New Jersey-based company released a statement Sunday afternoon, saying they have begun the process of winding down operations across their remaining 537 stores in the U.S after struggling for years, and the most recent failure to pay off 300-million dollars worth of stock. Credited with the idea of a superstore, the company was founded in 1971 in Springfield, New Jersey before expanding to a peak of over 15-hundred locations in 2017.

 

>>Sen. Amy Klobuchar: "Negotiate On Budget"

(Minneapolis, MN) -- Senator Amy Klobuchar is urging President Biden and House Speaker Kevin McCarthy to negotiate on the budget. Speaking on CNN's State of the Union, the Minnesota Democrat said the two leaders should not be "using the American people...as hostage." While Klobuchar said the U.S. cannot default on its debts, she also made it clear she was against McCarthy's plan. Klobuchar also said McCarthy's plan would make mortgage and loan interest rates go up and the stock market plummet.

 

>>Rep. Dingell Doesn't Believe McCarthy Has The Budget Votes

(Detroit, MI) -- Representative Debbie Dingell says House Speaker Kevin McCarthy might be jumping the gun in saying he has the votes to get his budget approval passed. Speaking on Fox News Sunday, the Michigan Democrat said she believes there are Republicans who are reluctant to cut spending for education, law enforcement and veterans. McCarthy's budget proposal returns federal spending to 2022 levels, while raising the debt ceiling to one-trillion-dollars. Dingell says she isn't opposed to negotiating spending cuts, but also doesn't want to put Americans at risk.

 

>>Bed Bath & Beyond Files For Bankruptcy Protection

(Union, NJ) -- Bed Bath & Beyond is filing for bankruptcy protection as it tries to stay afloat. The home goods retailer filed for Chapter Eleven protection Sunday in District of New Jersey court. The company listed its estimated assets and liabilities in the range of one-billion and ten-billion dollars. The company said its 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will stay open to serve customers while it begins the process of closings its retail locations.

 

>>NBCUniversal CEO Admits Inappropriate Relationship, Steps Down

(Los Angeles, CA) -- The CEO of NBC-Universal is out after admitting to an "inappropriate relationship" with a female employee. Parent company Comcast announced on Sunday that Jeff Shell stepped down, effective immediately. Shell said in a statement he deeply regrets his actions and is "truly sorry" he let his colleagues down. He was named CEO on January 1st, 2020.

 

>>SAG-AFTRA Votes To Support WGA

(Los Angeles, CA) -- Hollywood's biggest talent union is supporting the Writers Guild of America in its contract negotiations with studios and streamers. SAG-AFTRA voted unanimously Saturday on a resolution expressing solidarity with the WGA -- which represents over eleven-thousand writers of film, TV and streaming media. Over the past month -- the guild has been in talks with the Alliance of Motion Picture and Television Producers over compensation increases amid the streaming era. Producers are fearful of a strike after 98-percent of WGA members voted to authorize a work stoppage if a new deal isn't reached by the contract expiration date, which is May first. A SAG-AFTRA statement reads, "It is long past time for the studios, streamers and other employers in the entertainment industry to remove roadblocks to fair and equitable wages and working conditions."

 

>>"Super Mario" Super-Duper At The Box Office

(Los Angeles, CA) -- "The Super Mario Brothers Movie" remains the top movie at North America's box offices. The Universal film based on the Nintendo video game earned another 58-million-dollars in its third week of release in theaters across the U.S. and Canada. The movie has so far grossed over 434-million-dollars domestically and 871-million worldwide. In second place is the horror film "Evil Dead Rise" with 23-and-a-half-million-dollars followed by "Guy Ritchie's The Covenant" with just over six-million-bucks. Rounding out the top five are "John Wick -- Chapter 4" and the Ben Affleck-directed movie "Air."

On Air Now

Frank 'da Count' B.
Frank 'da Count' B.
9:00am - 10:00am
Central Oregon Insights

FlashAlert

KBND ON FACEBOOK

News Disclaimers