New entrepreneur programs
The Hudson-based Burton D. Morgan Foundation is establishing a new research institute, the Entrepreneurship Education Experiment and the Burton D. Morgan Fellowship Program.
The private foundation, whose mission is to strengthen the free enterprise system by investing in organizations and institutions that foster the entrepreneurial spirit, announced the new ventures during an open house on Wednesday night.
The institute, which will be headquartered in newly renovated Innovation Space in the Hudson offices, will “further develop the work of the foundation by engaging in research, publication, dissemination and evaluation through grant-making and partnerships with other stakeholders,” the foundation said.
Scott Shane, an economics professor with Case Western Reserve University, will be the first fellow, along with two interns.
The team will work on research that explores elements of “experiential entrepreneurship education, pitch competitions in particular.”
Apology issued for ‘no’ ad
Anheuser-Busch is apologizing for ad copy that appeared on bottles saying Bud Light removes the word ‘no’ from drinkers’ vocabulary.
Photos of the bottles went viral on social media Tuesday with widespread complaints about the slogan, particularly at a time of national debate about college rape.
“The perfect beer for removing ‘no’ from your vocabulary for the night,” the copy read in full.
The slogan was part of the brewer’s 2-year-old “Up for Whatever” campaign.
Hulu swipes ‘Seinfeld’ rights
As people increasingly turn to the Internet for their TV fix, Hulu is adding Seinfeld episodes and future AMC series to its lineup.
That means they won’t be on Netflix, which has far more subscribers — more than 62 million worldwide. Hulu said Wednesday it has nearly 9 million subscribers.
Hulu is an online video service owned by Disney, Twenty-First Century Fox and Comcast. It shows some TV episodes and movies for free on its site. Subscribers pay $8 a month for more content.
All Seinfeld episodes will be available for Hulu subscribers in June.
Hulu will also have future shows from AMC Networks Inc. channels like AMC, IFC and Sundance TV.
Perrigo rejects Mylan bid
Generic drugmaker Mylan raised its offer for over-the-counter medicines maker Perrigo Wednesday, but the Irish company again rejected Mylan’s overture.
Mylan said Wednesday it will pay $232.23 for each share of Perrigo in a mix of cash and stock, valuing Perrigo at about $34.1 billion. Perrigo says the offer isn’t in its best interest and that it isn’t worth as much as Mylan says.
Perrigo rejected an offer from Mylan last week, and Mylan itself is trying to fend off an acquisition from larger competitor Teva.
Mylan wants to combine its prescription generic drug business with Perrigo’s business in over-the-counter products like vitamins, nutritional products and infant formula.
Teva, already the largest generic drug seller in the world, wants to get even bigger and consolidate its manufacturing and sales by teaming up with Mylan.
Home buying rises in March
More Americans signed contracts to buy homes in March, the third straight month of gains as housing heats up with the start of the spring buying season.
The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 1.1 percent to 108.6 last month.
The index has climbed 11.1 percent over the past 12 months after having dipped in 2014.
Signed contracts are at their highest level since June 2013.
Pending sales improved in the South and West. But the number of signed contracts fell in the Northeast and Midwest, two areas that many economists expected to show rebounds after a harsh winter hurt sales at the beginning of 2015.
Compiled from staff and wire reports