March 30, 2013 in Business

In brief: Aerospace Alliance hosts meet-and-greet

From Staff And Wire Reports
 

The Idaho Aerospace Alliance will host a meet-and-greet event April 11 from 6 p.m. to 8:30 p.m.

Jim Glenn, president of the alliance, will speak at the event, aimed at Idaho aviation and aerospace companies with an emphasis on manufacturers and those who service the industry. Attendees are encouraged to bring their business cards and brochures.

Cost is $10 for alliance members, $15 for nonmembers. Refreshments will be served.

Call (208) 209-1209 to RSVP by Tuesday and get location information.

Amazon buys book website Goodreads

Amazon.com Inc., which started as an online bookseller before becoming the e-commerce behemoth it is today, is buying book-recommendations site Goodreads.

Amazon announced the deal Thursday. The purchase price was not disclosed.

Goodreads, a San Francisco company, launched in 2007. On the website, members can list, rate and review books they’ve read and discover new books by using the site’s recommendation tool.

It’s also become a social network for avid readers: Members can see what their friends are reading and comment on their reviews, and join online discussions on books they’ve read.

Goodreads has more than 16 million members who have added more than 530 million books to their digital shelves and written 23 million reviews. More than 30,000 book clubs are on the site.

Toys R Us withdraws its plan to go public

NEW YORK – Toys R Us Inc., which had filed plans to sell shares to the public in 2010, said Friday that it’s withdrawing its plan as the company reported declining sales and profit last year.

The company, which was taken private in 2005 through a $6.6 billion buyout deal, blamed “unfavorable market conditions” and its recently announced “executive leadership transition” for the decision, which it announced in a regulatory filing with the U.S. Securities and Exchange Commission. Chief Executive Gerald Storch, a former Target Corp. executive who has served as the toy retailer’s CEO since 2006, said last month he’s stepping down, even though he’ll remain as chairman.

The IPO withdrawal came as the company’s international profit last year was hurt by “challenging global economic conditions,” particularly in Europe and Japan, the company said Friday. Meanwhile, costs to refinance its debt also ate into profit.


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