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Simon Property Group Looks To Raise $300 Million For Shell Company

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The move comes as the retail industry is reeling from a double blow: fallout from the pandemic and the great shift of consumer buying to online sales. A SPAC, or blank-check company, has no commercial operations, but is formed to raise cash and go shopping for an existing company or companies to acquire.

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Coronavirus Triggers Furloughs For Over 1K Workers At Simon-Owned Malls

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The furloughs affect employees at Simon’s Indianapolis headquarters as well as at its malls and outlets nationwide, a source familiar with the situation told CNBC. In addition, upper management salaries are being slashed by up to 30 percent. The retail industry has been hit especially hard by the pandemic. billion in debt.

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Mall Vacancies At Highest Level In Eight Years

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Some geographies are coping with the upheaval in retail better than others, as vacancies in U.S. Reis data indicates that the proportion of units sitting empty in some cities – with the inclusion of Birmingham, Alabama and Indianapolis, Indiana – is roughly four times higher than San Francisco, the Financial Times reported.

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Amazon Expands Amazon Home Services To Twenty New Metro Areas

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In a press release , the eCommerce giant said the new cities include Indianapolis, IN; Las Vegas, NV; San Antonio, TX; Ann Arbor, MI; Cleveland, OH; Milwaukee, WI; Boulder, CO; Raleigh, NC; Trenton, NJ; and more. Local service providers opt in based on where they operate and the services they offer.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

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billion, on an 82 percent increase in retail sales. That is the most organic growth of any automotive retailer ever in the U.S. For example, as reported by Forbes, auditor Grant Thornton wrote that “management believes” it can meet its financial obligations through February 2021. In 2019, we increased GPU by $750. Ontario (L.A.),

Company 130
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How GM’s Maven Is Driving Unattended Urban Mobility

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Could unattended retail be the solution? These unattended vehicle solutions are geared toward urban residents who need access to a vehicle they can operate themselves but don’t want to own or lease. Operating a [car-sharing] service versus selling everybody a car, in some parts of the world, just frankly makes better sense,” he said.

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Stepping Into 21st Century Hospitality With Apartments And Technology

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As a result, the company can architect all the elements of its operation from technology to process and its people from the ground up with insight from the current day. When it comes to partnerships, the company works with multifamily property management companies. The Business.