Business Briefs – February 2008
Most Expensive License Plate
A wealthy Abu Dhabi man shelled out $14 million for a vanity license plate with just one number on it − 1 − shattering the previous record of $6.8 million paid for a plate with 5 on it. In total, 90 license plates were auctioned off for $24 million.
Meg Whitman Steps down as CEO of eBay
Margaret C. “Meg” Whitman has announced that she is stepping down as CEO of eBay. Whitman, who has been the President and CEO of the online marketplace since 1998, will remain on the Board of Directors. When she joined eBay, it had 29 employees and operated solely in the United States; eBay is now a global organization with over 15,000 employees. She led the company from a few customers to nearly 50 million; revenue jumped from a few dollars to nearly $6 billion.
This charismatic leader has long been admired in business circles as her many accomplishments have distinguished her in many areas. To learn more about her exalted career, check out her profile right here on our blog at Little-Known Facts About Well-Known Leaders – Meg Whitman.
Largest Beef Recall in History
A California meat company, Westland/Hallmark based in Chino, California, recently issued the largest beef recall in history, 143 million pounds, some of which was used in school lunch programs.
The historic recall comes after a widening animal-abuse scandal that started after the U.S. Humane Society distributed an undercover video that showed workers kicking sick cows and using forklifts to force them to walk. The video raised questions about the safety of the meat, because cows that cannot walk, called downer cows, pose an added risk of diseases including mad cow disease. The federal government has banned downer cows from the food supply.
Sharper Image Files for Chapter 11
Struggling electronics and specialty gifts retailer Sharper Image Corp. recently filed for reorganization under Chapter 11 of the bankruptcy code. In a statement, San Francisco-based Sharper Image said it will continue to conduct business as usual while it develops a reorganization plan. Chief Financial Officer Rebecca L. Roedell said the company plans to close 90 of its 184 stores as soon as possible after it sells their inventories.