6 Most Important Things In Business Today

Ritz crackers have a potential food poisoning problem. According to Reuters:

Mondelez Global LLC  has voluntarily begun recalling some Ritz Cracker sandwiches and Ritz Bits products over concern that they may include an ingredient tainted with Salmonella.

The company said in a statement on Saturday that it has not received any complaints of illness, and that it issued the recall as a precautionary measure.

Fiat Chrysler Automobiles NV (NYSE: FCAU)  had a quick CEO change. According to the Wall Street Journal:

The deteriorating health of Sergio Marchionne forced Fiat Chrysler Automobiles NV to replace him as CEO this weekend, a sudden change at a company dealing with a rapidly evolving industry and a global trade dispute.

“It is with great sadness that I have to tell you that our CEO Sergio Marchionne, who recently underwent surgery, unfortunately experienced complications that have worsened in recent hours and will prevent his return to FCA,” Fiat Chairman John Elkann told employees in a letter Saturday.

The board of Pappa John’s Internation Inc (NASDAQ: AMZN) may vote on a way to partially take control from its disgraced founder. According to The Wall Street Journal:

Papa John’s International Inc.’s board members voted to adopt a “poison pill” on Sunday to prevent its controversial founder from gaining a controlling interest in the pizza chain, according to people familiar with the matter.

The board has been trying to sever ties with John Schnatter, who founded Papa John’s 34 years ago, following revelations that he used a racial slur during a recent conference call.

A Denzel Washinton movie was the winner at the weekend box office. According to Box Office Mojo:

At the top of the box office, Sony’s release of The Equalizer 2, starring Denzel Washington and directed by Antoine Fuqua, delivered an estimated $35.8 million, topping the $34.1 million opening for the first film. The film’s second place performance comes as a result of holding on just a bit better than the Mamma Mia! sequel on Saturday, though once weekend actuals are in it could turn into a slightly tighter race than the $1.44 million that currently separate the two. That said, we aren’t expecting the top two positions to change.

The market for the Tesla Inc (NASDAQ: TSLA) Model 3 may be shrinking. According to CNBC:

Recently, Elon Musk lashed out at a new analysis claiming that nearly a quarter of the more than 400,000 advance reservations for Tesla’s Model 3 battery-sedan have been canceled.

But a closer look at Musk’s comment raises a different reason for concern: The prospect that new orders may not keep up with Tesla’s long-awaited production ramp-up at it’s suburban San Francisco assembly plant.

 

By Douglas A. McIntyre

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