Wednesday, 06 June 2018 12:14

U.S. jobs rising, Musk beats back attempt to replace him as Tesla chairman and CEO

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BANGOR - The rise in the number of job openings in the United States and Tesla's chairman and CEO's job performance are among the business happenings in today's news.

For the first time on record, the number of job openings in the U.S. has exceeded the number of jobless Americans. The Labor Department said jobs in April rose 1 percent to 6.7 million, the most since 2000.

 

Tesla CEO Elon Musk has fought off a shareholder attempt to overhaul the company's board and replace him as chairman. The 46-year-old co-founder has been taking heat amid the company's poor finances and inability to meet production goals. Musk holds a 22 percent stake in Tesla.

 

Lord and Taylor is abandoning its flagship fifth avenue store. It sold the building to the office sharing company We Work last october but said it would maintain a small presence there. In the 1930s, Lord and Taylor pioneered Christmas window displays for entertainment.

 

And finally, a company that makes one of America's most iconic baseball gloves is being sold. Rawlings, which has outfitted kids and pros for the past 130 years, is being taken over by a private equity company for nearly $400 million. The sale expected to close in the next two months.