A 2 1/2-year legal brawl between three of the nation’s best-known brands ended with a whimper when a judge said J.C. Penney Co. interfered with Macy’s Inc.’s deal to sell goods from Martha Stewart Living Omnimedia Inc. yet shouldn’t be punished for its behavior.
When JPMorgan Chase & Co.’s Jamie Dimon got a 74 percent raise in January, U.S. Attorney Preet Bharara fumed. He had forced the bank just weeks before to pay $1.7 billion for enabling Bernard Madoff’s Ponzi scheme. And yet Dimon was being rewarded.
On an unexpectedly rainy October day in Los Angeles, Stewart Resnick looks out the window of a third-floor conference room and shrugs. It's midway through California's biggest-ever pistachio harvest and the rain is yet another reminder, should anyone need it, of how important water is to his business. He helps himself to a half a vegetable wrap and a bottle of Fiji Water—one of the four big consumer brands Resnick owns—and takes his place at the head of the table, where senior executives of his private company, Roll International, have gathered to discuss how to sell 300 million pounds of pistachios.
Macy’s Inc., the second-biggest U.S. department store chain, made a final bid to block Martha Stewart’s company from selling bedding, cookware and other merchandise at J.C. Penney Co. in a case that may change the way retailers approach licensing deals.
Macy’s Inc. and Martha Stewart Living Omnimedia Inc. settled litigation over whether Martha Stewart breached a contract by selling certain goods at J.C. Penney Co. The terms of the settlement weren’t disclosed.
Martha Stewart Living Omnimedia Inc.’s new chief executive officer Daniel Dienst has a track record of dealmaking, stoking speculation he may follow the same recipe with the magazines and home-decor company.
Terry Lundgren, chief executive officer of Macy’s Inc., said he was so upset when Martha Stewart called to tell him about her company’s deal to sell products at J.C. Penney Co. stores that he hung up on her and hasn’t spoken with her since.