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BUSINESS Saturday 19 auguSt 2017
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Hot stock tip: Chicken Soup for the Soul

NEW YORK (AP) — “These too soon. by motivational speakers fered by the company is company’s offering is hope-
are the times that try men’s The company, called Jack Canfield and Mark important right now given fully laying the groundwork
souls,” was written more Chicken Soup for the Soul Victor Hansen in 1993. They the divisions among Ameri- for other companies to do
than two centuries ago, Entertainment Inc., offered sold what was still essential- cans, Rouhana said. small cap IPOs.
but given events this week, 2.5 million shares for $12 ly a company focused on Chicken Soup held what Already an investor in
they could have popped each. books in 2008. is known as a “mini initial Chicken Soup is actor Ash-
up in any blog or tweet in Chicken Soup produces Since then, Chicken Soup public offering,” which ton Kutcher, who has been
recent days. television programs and has turned to video pro- gives smaller investors and active with startup compa-
What better time then, for online videos, duction and distribution. individuals the ability to buy nies for years.
a little Chicken Soup for the but is best known for the Chicken Soup for the Soul shares. Chicken Soup bought
Soul? books sold under the same Entertainment CEO William Startups, through a mini Kutcher’s media company
The provider of positive name, with more than 250 Rouhana described it as IPO, can raise up to $50 mil- A Plus late last year, and
vibes is becoming a pub- published titles in 40 lan- a Netflix for Chicken Soup lion. Chicken Soup is raising Kutcher became an inves-
licly traded company Fri- guages. fans. $30 million. tor in Chicken Soup for the
day, and not a moment The company was founded The positive content of- Rouhana said that the Soul.q

Former Uber CEO lashes out at VC firm suing company

By MICHAEL LIEDTKE to recover from revelations
Associated Press of rampant sexual harass-
SAN FRANCISCO (AP) — ment within the compa-
Former Uber CEO Travis Ka- ny and allegations that it
lanick is skewering a lawsuit stole trade secrets from a
filed by a former ally, de- Google spin-off, Waymo,
scribing it as a malicious at- to build self-driving cars.
tempt to sever his remain- The San Francisco com-
ing ties to the widely used pany is also still looking
ride-hailing service that he for a new CEO to replace
co-founded. Kalanick, who resigned in
Kalanick lashed out in le- late June under pressure
gal documents filed late from Benchmark and oth-
Thursday in response to a er investors worried about
Delaware Chancery Court Uber’s direction. nBench-
lawsuit filed against Uber mark alleges Kalanick has
last week by one of its ma- been interfering in the CEO
jor investors and a former search and manipulating
Kalanick supporter, Bench- Uber’s board in a scheme
mark Capital. to bring him back as the
The acrimony sets the stage company’s leader. After
for what could be a bit- his resignation as CEO, Ka-
ter battle pitting the pug- lanick re-appointed himself
nacious Kalanick against to Uber’s board as part of
Benchmark, a major Sili- special powers that gives
con Valley venture capital him control over three In this Feb. 26, 2017, photo, then-Uber CEO Travis Kalanick arrives in Beverly Hills, Calif. Kalanick is
firm. Benchmark has seen board seats. Benchmark skewering a lawsuit filed by a former ally, describing it as a malicious attempt to sever his remain-
ing ties to the ride-hailing service that he co-founded.
its 2011 investment of $12 now wants those powers (Photo by Evan Agostini/Invision/AP)
million in Uber grow into a taken away, contending
stake now worth more than they were given to Kalanick and launched its plan to ly injured in a boating ac- statement explaining that
$7 billion, based on recent under false pretenses.In his oust him from Uber “at the cident on May 27. the firm felt it had no other
valuations of the company. filing, Kalanick contends most shameful of times” — Benchmark had no com- choice but to sue to stop
Uber is being thrust into the that Benchmark had se- shortly after his mother was ment on Kalanick filing, re- unacceptable behavior at
crossfire at a time it is trying cretly plotting against him, killed and his father critical- ferring back to an earlier Uber.q

Sporting goods retailers on Wall Street losing streak

NEW YORK (AP) — Sporting stores and clothing chains, ity went out of business ers, didn’t sell as well in the percent, worse than the 10
goods retailers can’t shake which are beefing up the last year, closing all its 460 second quarter. Sales fell percent drop the company
their losing streak. number of sneakers and stores after filing for bank- 6 percent at established said it expected last month.
Shares of stores that mostly athletic wear they sell, said ruptcy protection. Foot Locker stores during The company also slashed
sell sneakers and sport- Neil Saunders, a retail ana- In June, Nike said it would the quarter. That was the its earnings per share fore-
ing gear plummeted Fri- lyst at GlobalData. At the begin selling its shoes company’s first quarterly cast range for the full year
day after Foot Locker and same time, sneaker brands through Amazon.com, but decline of the figure in and Hibbett’s stock hit an
smaller rival Hibbett Sports are increasingly selling their it fell sharply with nearly all seven years. Foot Locker all-time low of $9.40 on Fri-
reported a drop in sales in goods directly to customers sports-related stocks Friday. Inc. shares fell 27 percent day.
the latest quarter. Both also through their own websites Under Armour tumbled al- to $34.99 in afternoon trad- Other shares of sporting
offered gloomy outlooks for or stores. That means shop- most 4 percent. ing Friday, their biggest goods retailers also fell
the rest of the year. pers don’t need to head Foot Locker said Friday percentage decline since sharply. Dick’s Sporting
Sporting goods retailers to a sporting goods stores that some of its top-selling 2008. Hibbett Sports Inc., Goods Inc. dropped 3 per-
are facing increasing com- to pick up sneakers or run- sneaker styles, such as meanwhile, said sales at cent and The Finish Line Inc.
petition from department ning shorts. Sports Author- Nike’s Air Jordan sneak- established stores fell 11.7 fell 6.3 percent.q