Minimum wage bill filed in Mass.
Boston — A joint committee of the Massachusetts state House of Representatives and Senate has filed a bill to gradually raise the state’s minimum wage from its current hourly rate of $8 to $11. The increase would occur in stages until reaching $11 in 2017.
The House of Representatives previously filed a bill that would raise Massachusetts’ minimum wage to $10.50 by 2016. The Senate previously approved a different bill that would raise the minimum wage to $11 by 2017 and also tie future increases to inflation. The current compromise bill does not include inflationary adjustments.
Priceline acquires OpenTable
Norwalk, Conn. — The Priceline Group Inc. and online restaurant reservation service OpenTable Inc. have entered into a definitive agreement whereby The Priceline Group will acquire OpenTable for $103 per share in an all cash transaction valued at $2.6 billion. OpenTable will continue to be headquartered in San Francisco and will operate as an independent business led by its current management team within The Priceline Group.
"OpenTable is a great match for The Priceline Group,” said Darren Huston, president & CEO of The Priceline Group. “They provide us with a natural extension into restaurant marketing services and a wonderful and highly-valued booking experience for our global customers. We look forward to helping the OpenTable team accelerate their global expansion, increase the value offered to their restaurant partners, and enhance the end-to-end experience for our customers across desktop and mobile devices.”
Children’s Place names American Express exec as director
Secaucus, N.J. — The Children’s Place Inc. has named Susan Sobbott to the board of directors as a Class II director to serve for a three-year term expiring in 2017. Sobbott currently holds the position of president of Global Corporate Payments, a global division of the American Express Company. From 2004 to early 2014, she was President and General Manager of American Express Open. The addition of Sobbott expands the company’s board of directors to eight.
"Susan brings to The Children’s Place broad-based managerial and leadership experience in the areas of marketing, branding, customer insight and customer management," said Norman Matthews, chairman of the board. "We are pleased to welcome her to The Children’s Place Board."