Amazon to build in Tennessee

Gov. Bill Haslam has announced a deal with Amazon.com to begin collecting Tennessee sales tax in 2014 and adding 2,000 full-time jobs at new distribution centers.

Haslam said the agreement, announced Thursday in Nashville, will balance the needs of Amazon.com Inc. and the state’s brick and mortar retailers.

Amazon said it will invest $350 million in Tennessee. The site of two new distribution centers has yet to be decided.

Facebook user sues over cookies

A Facebook user in Kansas has filed a federal lawsuit against the social networking giant, claiming it violated wiretap laws with a tracking cookie that records web browsing history after logging off of Facebook.

John Graham, a 42-year-old Leawood lawyer, is the named plaintiff in the lawsuit filed on Wednesday in U.S. District Court in Kansas. His suit seeks class action status for the 150 million users of Facebook in the United States. Graham referred all comment to his attorneys, who declined to comment on the filing.

Experts say the Kansas litigation faces an uphill battle since courts in the past have tossed out similar cases against Facebook and others filed under wiretap law, finding such computer cookies are not wiretaps.

Andrew Noyes, a spokesman for Facebook, said the firm was not commenting on the lawsuit at this time.

Hot dog chain to stay in family

An Ohio judge’s decision means a hot dog chain that earned a place in pop culture on the TV series “M.A.S.H.” will stay in the family.

The family feud over ownership of Tony Packo’s played out in a Toledo courtroom Tuesday.

A county judge gave control of the company to a private restaurant group that plans to put Tony Packo Jr. and his son back in charge of the chain.

The restaurant was made famous 35 years ago after being mentioned on six episodes of “M.A.S.H.” during the show’s run in the 1970s and ’80s. The dogs were favorites of cross-dressing Cpl. Max Klinger on the show.

A dispute between descendants of the restaurant’s namesake erupted this summer, causing both sides to make bids to take over the company.

Pensions show big deficits

Company pensions fell behind future payouts to retirees by the most ever in September, as stocks fell and the slowing economy and Federal Reserve policy drove down bond yields, according to actuarial and consulting firm Milliman Inc.

The deficit between the assets of the 100 largest company pensions and projected liabilities widened by a record $124 billion in September to $439 billion, Seattle-based Milliman said Thursday, based on data going back to 2000. Investment assets fell $31 billion to $1.175 trillion, while obligations to retirees rose $93 billion to $1.614 trillion.

Company pensions have suffered as bond yields, a benchmark in determining future liabilities, have been tamped down by the U.S. central bank’s efforts to ward off another recession as markets are buffeted by Europe’s debt crisis.

Gannett CEO quits, cites health

Media company Gannett says its chairman and CEO is resigning due to health issues.

Craig A. Dubow, 56, a 30-year veteran of the company, has been Gannett’s CEO since 2005. He began his second medical leave in two years on Sept. 15. He has been dealing with back and hip problems.

Gannett Co. is splitting the chairman and chief executive roles. Marjorie Magner, 62, an independent director since 2006, was named non-executive chairman. Gracia C. Martore, 60, formerly president and chief operating officer, was named CEO. She has served as principal executive officer during Dubow’s medical leave.

Gannett, a diversified media company, publishes USA Today and more than 80 other U.S. newspapers.

Dubow is also a member of The Associated Press’ board of directors.

 

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