Well, that didn’t take long. Mere hours after laying off most of their employees, beleaguered Fisker Automotive was hit with a federal lawsuit from their now ex-workforce alleging that the company failed to give advance notice of the layoffs as required by law.
Automotive News reported this morning that Friday’s layoffs — which claimed a whopping 160  … More
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Revised takeover offers for Billabong have come in considerably lower than indicative bids, with the highest valuing the struggling surfwear firm at A$287 million ($300 million), according to the Australian Financial Review on Friday.
A consortium comprising … More
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In a development that could signal the end is near for Fisker, the troubled plug-in hybrid automaker has announced that it has laid off 75 percent of its employees.
“Our efforts to secure a strategic alliance or partnership are continuing in earnest, but unfortunately we have reached a point where a significant reduction in our workforce has become necessary,” Fisker said in a  … More
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Billabong has gone into an indefinite trading suspension while negotiations with two potential suitors drag on. Billabong made the announcement to the market this morning before a trading halt on its shares was due to be lifted. The company has received six takeover offers since early 2012, but none have succeeded so far.
‘The securities of Billabong International Limited (the “Companyâ€) will be suspended  … More
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