Chipotle (CMG) may have finally removed preservatives from all of its food, but investors should be wary of the company that once served up E. Coli to 60 burrito-hungry customers. "We have always used high quality ingredients and prepared them using classic cooking techniques," Chipotle Founder and CEO Steve Ells said in a statement Tuesday highlighting the chain removing preservatives from its tortillas. Ells may want to consider refraining from dissing rival fast food chains until Chipotle stabilizes its own business. While Wedbush analyst Nick Setyan views Chipotle going "clean" with its food as a way to "get them back on the right path," he told TheStreet that challenges still lie ahead for the company.
More and more retailers are inching closer to the edge, as the list of troubled ones grows by the day. Discount footwear chain Payless ShoeSource is allegedly planning to file for bankruptcy protection under Chapter 11 as soon as next week, and plans to close 400 to 500 stores, according to a report Wednesday morning by Bloomberg. A Payless spokeswoman declined to comment. In February, it was reported that Payless would close 1,000 stores, and, in January, the company announced the elimination of 150 employees. Facing $650 million in debt, Payless, which was taken private by private equity firms Golden Gate Private Equity and Blum Capital Partners in a 2012, $2 billion buyout of parent company
An investor who was burned in the Madoff scheme has jumped to his death Tuesday, 28 Mar 2017 | 10:41 AM ET | 00:41 A well-connected hedge funder with ties to Bernie Madoff plunged to his death at a posh New York hotel, according to reports. Charles Murphy, who most recently worked with hedge fund heavyweight John Paulson at Paulson & Co., was pronounced dead shortly after 5 p.m. Monday at the Sofitel building in what authorities are calling an apparent suicide. The New York Post reported that Murphy, 56, jumped from a room on the 24th floor and landed on a fourth-floor terrace. "We are extremely saddened by this news. Charles was an extremely gifted and brilliant man, a great partner and a