Gadsden Company Releases Guitar Effects Pedal

U.S. News

Local musician Clint McDuffie, guitarist of Gadsden band GallantHorn, knows all about the technical side of rocking out. He spent the last few years learning how to build circuits and control electronic sound in his spare time -- he went to UAB for business management, not electronics -- building pedals to use himself. In December he decided to try and market one of his creations, a distortion pedal called "Red Ghost," and left his job behind to work on building pedals full time for his new company, Deep Space Devices.


Bankrupt Weinstein Company Releases Harvey's Victims From Nondisclosure Agreements

Slate

Six months after accusations of sexual assault and harassment brought the downfall of Hollywood mogul Harvey Weinstein, the company he co-founded filed for bankruptcy, releasing victims from nondisclosure agreements that prevented them from speaking about the producer's alleged crimes. The Weinstein Company filed late Monday in the U.S. Bankruptcy Court in Delaware after failing to find a buyer. The company said it has reached an agreement with a Texas-based private equity firm called Lantern Capital Partners, which has agreed to buy the company's assets. Although Lantern is the first bidder in the bankruptcy process, others could make a higher bid in the court-monitored auction of the company's assets. Lantern was one of several investors that hoped to acquire the company outside of bankruptcy, but the negotiations fell through in February when New York Attorney General Eric Schneiderman filed a lawsuit claiming the entire company enabled Weinstein's crimes.



UPS Shares Rise After Company Posts 7 Percent Gain in Profit

U.S. News

The Atlanta-based company has been investing in new facilities and more automation to improve reliability, especially during the peak season that runs from Thanksgiving to Christmas, and is also adding technology to help drivers run more efficient routes.


North America's Oldest Company Will Be Cutting 2,000 Jobs

U.S. News

The announcement came as the company released its first-quarter earnings, which showed a net loss of US$163 million (CA$221 million), more than double the US$71 million (CA$97 million) loss it had in the same period last year.