In a recorded voicemail message from 2002, Michael Jackson could be heard stating that he wanted to purchase Marvel and create a “Marvel [television] channel with the Marvel characters.” He also mentioned creating restaurants, retail locations, theme parks, etc. touting the Marvel brand and characters. The music superstar was surely a business genius!
What happened to the Michael Jackson/Marvel deal? According to the aforementioned Piers Morgan interview, the legal allegations against Michael Jackson halted his purchase of Marvel, and left the door opened for Disney to enact his brilliant plan.
“For that period that the protest and the incident occurred in Philadelphia, now certainly those stores were impacted for a brief period. But it’s still early days, and we don’t have all of the information on demographics. But certainly if I look nationally, and I look at regions across the United States, there’s not been a measurable impact that we can attribute to Philadelphia. But certainly in the City of Philadelphia, during that period, there was some impact.” Kevin Johnson Starbucks CEO
Is this statement coming from a CEO who is trying to save face, and/or were the economic repercussions not impactful enough?
Black People what are we going to do?
SIDEBAR: How many franchises has Starbucks licensed to Black entrepreneurs? Keep in mind that this is a franchise that makes approximately $36.6 million per day.
According to CNBC, “In January [Starbucks] Chairman Howard Schultz said the average Starbucks store makes about $32,000 a week. Using that as a benchmark, 8,000 stores would make about $260 million in that period, or about $36.6 million a day.”
In the near future, Google will reportedly close a deal that will garner it ownership of Chelsea Market. According to the New York Daily News, the company has shelled out $2 billion to purchase the 1.2 million square-foot property.
Google is already a tenant at the popular location, where the Oreo cookie was invented. Chelsea Market also contains offices for Major League Baseball and the Food Network. In addition to this, the building contains a bevy of eateries in its food hall which attracts millions of visitors annually.
There is no official word on whether or not Google will continue to share the space with the building’s other tenants after the deal goes through.
Business Insider states that: “Last year, the volume of mobile payments in China more than doubled, surging to a total of $5trillion…A research investment company based in Hong Kong, predicts that electronic payments in China will reach a volume of $45 trillion by 2021.”
In a shocking move in this digital age, Starbucks has decided to shut down its online store. This online shut down has also come at a time, when, according to Forbes, Starbucks has also announced that it will be closing “all 379 of its stand-alone Teavana stores.”
According to the New York Times, Starbucks’ decision to nix its online store was made in order to allow the company to “focus on [the] in-person experience.”
According to Business Insider, the coffee behemoth’s representatives have described the closure as an opportunity to build “commercial partnerships with digital companies,” that will enable them to create a “global retail footprint.”
Starbucks seems to be playing coy with their motives. Being that this company is such a trendsetter in retail, it will be interesting to see how this development evolves.
This past August, an almost $14 billion deal was completed, allowing for Amazon to purchase Whole Foods. Amazon’s ownership of the grocery conglomerate has been marked by new policies that the new owners have implemented.
According to Business Insider, the day Amazon completed the aforementioned purchase, prices at Whole Foods immediately dropped. In addition to this, Amazon Prime members will be able to get special discounts at Whole Foods. Whole Foods has replaced their previous discount program with Amazon Prime. In a reciprocal action, Whole Foods’ products can be purchased on Amazon’s website via an Amazon Fresh membership.
Amazon also plans to expand Whole Foods’ work force by hiring more employees. In addition to this, select Whole Foods locations will sell Amazon products, such as the Amazon voice-controlled speaker; and will be equipped with Amazon Lockers, for drop-offs and pick-ups of Amazon purchases.
The reputation of Whole Foods in the past has been one of a very expensive grocery store, where patronage may be out of reach of the average consumer. Let’s see if Amazon’s acquisition of the company will make it more price-friendly for the average shopper.