Barnes & Noble among bidders buying Borders’ intellectual property
New York City — Barnes & Noble has bought some of Borders Group’s intellectual property along with other bidders, Crain’s New York reported.
According to Hilco Trading, the liquidation company handling the sale, multiple bidders, including Barnes & Noble, have agreed to buy $15.8 million of Borders’ intellectual property, Craine’s said. The properties include a global portfolio of trademarks; Borders, Waldenbooks and Brentano’s trade names; Internet domain names and the Borders.com e-commerce website.
Hilco did not reveal which assets were acquired by which bidder.
Stein Mart appoints interim CEO
Jacksonville, Fla. — Stein Mart announced the appointment of Jay Stein as interim CEO, effective immediately, following the retirement of David H. Stovall, Jr., who has held that position since 2008.
The company also announced the formation of a search committee of the board of directors led by Robert Mettler who serves as chair of the strategic planning committee of the board.
Court blocks Costco gender bias suit
New York City — Costco Wholesale Corp won a federal appeals court decision that blocks women who accused the company of gender bias from suing as a group. Although the ruling overturns a judge’s decision to expand a suit filed by three women to include hundreds of female workers, the court left open the possibility that the case could again be brought as a class action.
The 9th U.S. Circuit Court of Appeals in San Francisco said a lower court judge failed to properly decide whether there was enough "commonality" among the female Costco plaintiffs to justify class certification. It sent the case back to the lower court judge to determine whether she could certify a class under a different federal rule.
The Costco case involved about 600 current and former employees who accused the chain of making it harder for women to be promoted to general manager or assistant general manager.
Both sides said they were happy with the court’s most recent decision.