to feature Pianalto
The University of Akron’s Women in Business organization will present the free women's symposium "Shine Like a Diamond" from 8:30 a.m. to 1:30 p.m. April 5 at the Taylor Institute (Room 567) in the Polsky Building.
The conference offers opportunities to hear from and connect with prominent women leaders who have achieved both personal and professional success.
Sandra Pianalto, past president of the Cleveland Federal Reserve Bank, is the keynote speaker. Pianalto is the UA College of Business executive-in-residence, FirstMerit Chair in banking.
Breakfast and lunch will be provided for attendees. Got to https://uawomeninbusiness.wixsite.com/website to register.
Tesla scales back plan
to close showrooms
Tesla is walking back plans to close most of its showrooms worldwide and announced price hikes for most of its electric vehicles.
Tesla announced last month that it would shutter most of its stores to cut costs so it could sell its lower-priced Model 3 for $35,000. The company continues its shift toward online-only sales, but now says it won't close as many stores as originally thought.
In a Monday filing with government regulators, Tesla said it closed 10 percent of its stores, but a few of those will now remain open. Another 20 percent are being evaluated and some could remain open.
The company gave no numbers, but said it would close only about half the stores that it had intended to. It has 378 stores and service centers worldwide and about 100 stores in the U.S. If the company closes 30 percent of the stores that would equal about 110.
Labor Department plan
revises overtime rules
The Labor Department has issued its long-awaited proposed regulations on overtime. The proposal would raise the pay threshold at which workers would be exempt from overtime to $35,308 from the current $23,660.
The proposed rules, which the department says would make more than 1 million workers eligible for overtime, are most likely to affect workers with jobs like shift supervisor or assistant manager at restaurants, retailers and manufacturing companies.
The proposal revises rules written during the Obama administration that would have doubled the pay threshold at which workers would be exempt from overtime to $47,476.
Chip maker Nvidia
to acquire Mellanox
Chip maker Nvidia will acquire network and data transmission company Mellanox for $6.9 billion in an all-cash deal.
The acquisition, which equates to $125 per share, has been approved by both companies' boards and is expected to close by year's end.
The companies are frequent collaborators and said Monday that the acquisition would be a natural extension of a longstanding partnership.