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This Nebraska teacher will surely win show-and-tell once the school year begins.Josh Lanik, 36, was vacationing with his family when he discovered a brandy-colored gem at Crater of Diamonds State Park in Murfreesboro, Arkansas."It was blatantly obvious there was something different about it," Lanik said, according to 331
The owner of Schick razors needs to close the gap with Gillette, its biggest rival. So it's turning to new blood to make that happen.Edgewell Personal Care is buying the upstart razor maker Harry's, the two companies announced Thursday. The deal values Harry's at nearly .4 billion.Harry's started in 2013 and quickly expanded by selling low-priced razors online. Edgewell, meanwhile, owns some of the most established brands in the field — including Schick, which started in 1921. Edgewell also owns Wilkinson Sword, a major European brand that has been making razors since 1898.But Edgewell trails its main rival, Gillette, by a large margin. Gillette is a unit of Procter & Gamble, and accounted for about 10% of that company's .8 billion in revenue — about billion — last year. By comparison, Edgewell reported .2 billion in revenue during its most recent fiscal year.Sales for the first six months of this year fell 7% compared to a year earlier, Edgewell reported Thursday. But CEO Rod Little told investors that the company expects revenue to rise to .7 billion in its first full fiscal year after it acquires Harry's. The deal is expected to close early next year.Little said Edgewell was drawn to Harry's success with building a brand and marketing directly to consumers."We've been talking about it for a while," he said on an earnings call. "And when you look at what Harry's has done, we've looked at that from afar for a long time," he told investors."The deal also could help Harry's cut costs. Despite its success, Little said the business is only approaching the breakeven point this year.Investors didn't immediately embrace the purchase. Shares of Edgewell fell nearly 13% in midday trading Thursday.Harry's founders Andy Katz-Mayfield and Jeff Raider will stay on to run the combined companies' US business. Raider was also one of the founders of the eyeglass maker Warby Parker. The two of them had been friends since college.Harry's is not the first razor startup to be acquired by a more established company.In 2016, Unilever bought 2083
The owner of Ragú is recalling some of its jars of pasta sauce over the possibility that they may contain plastic fragments, the company said.Mizkan America said Saturday it has 190
Top executives from more than 180 companies have a message for lawmakers: Restricting abortion is "bad for business."A letter endorsed by the business leaders appeared as a full-page ad in Monday's New York Times, declaring "it's time for companies to stand up for reproductive health care."They argue that limiting access to comprehensive care, "including abortion," threatens "the health, independence, and economic stability of our employees and customers." The letter says strict abortion laws are "against our values" and impede corporate efforts to build diverse workforces.Among the list of the ad's endorsers are chief executives from Yelp, Slack, Tinder, H&M, and food delivery app Postmates. Jack Dorsey, CEO of Twitter, was also on the list, though he signed on behalf of the other company he runs, digital payment firm Square. The group included fashion designer Eileen Fisher.Businesses have shown a growing willingness to take stands on issues like LGBTQ rights, immigration and gun control — but they've remained mostly silent on abortion policy through years of debate.That changed for some companies this year after Alabama lawmakers approved a near-total ban on abortion, and as "heartbeat" laws, which prohibit abortions when a fetal heartbeat is detected or as early as six weeks into a pregnancy, gained new traction in several states. They include Georgia, Mississippi, Kentucky and Louisiana.Three of the world's biggest entertainment companies — Netflix, Disney and WarnerMedia — said last month that they may stop producing movies and TV shows in Georgia if the state's "heartbeat" law takes effect. (WarnerMedia, a unit of AT&T, is the parent company of CNN.)The executives behind the letter were brought together by a coalition that includes the ACLU, Planned Parenthood and the advocacy group NARAL Pro-Choice America.Ilyse Hogue, NARAL's president, said in a statement that the organization applauds the executives for "taking a stand on behalf of their employees, customers, and communities.""We encourage the entire business community to join us in protecting access to reproductive health care in the critical months and years to come," she added.The coalition is calling the campaign "Don't Ban Equality" and it launched a 2277
The US Coast Guard is helping with the search for a missing Air Force airman who fell out of a plane during a jump training mission, Coast Guard Mobile Sector spokesman Juston Lee told CNN.The missing staff sergeant deployed his parachute and fell about 1,500 feet into the Gulf of Mexico, he said. His name and age have not been released.The crew aboard the C-130 plane said the airman hit the water and was treading water, but when they turned back around to find him, they couldn't see him, Lee said.The crew is from Hurlburt Field in Okaloosa County, Florida.Multiple teams are continuing the search for the man. 628