"The idea that this deal gives Amazon an unfair advantage ... appears overblown.”Read More »
Plug Power, the Latham, New York, fuel cell manufacturer, has signed a three-year contract with Wal-Mart that includes the opportunity for Wal-Mart to buy 17 percent of Plug. Wal-Mart has been one of Plug Power's largest customers for years, making up 34 percent of Plug Power's revenue last year. The company already has 5,500 Plug Power fuel cells in 22 warehouses. The new deal will add up to 30 Wal-Mart sites over the next three years. Ten sites are already under contract and scheduled to finish by the end of 2017. Plug Power said revenues from the commercial agreements are expected to be about $80 million in 2017. Wal-Mart has acquired the right to buy up to 17 percent of Plug Power (NASDAQ:
In what should come as a surprise to absolutely no one, Sears Holdings Corp. (SHLD) has admitted it truly needs help. Sears announced Thursday, July 20, that it will sell its Kenmore appliances on Amazon.com Inc. (AMZN) , including a new line of Kenmore Smart appliances featuring Amazon's Alexa. In other words, it's taking its most treasured brand and partnering with the company that's done the most to hasten its demise. Amazon will be Sears' largest distributor outside its own stores and e-commerce channels. The deal comes more than a year after Sears' announcement in May 2016 that it would explore alternatives for its Kenmore, Craftsman, DieHard and Sears Home Services businesses. Stanley
More than 300 Carrier Corp. workers were being laid off Thursday from the company's Indianapolis factory as part of an outsourcing of jobs to Mexico that drew criticism last year from then-presidential candidate Donald Trump. The nearly 340 workers clocked out after their final shifts at Carrier's gas furnace factory. Carrier announced in February 2016 that it would close the Indianapolis plant and cut about 1,400 production jobs in a move expected to save $65 million annually by moving furnace production to Mexico.