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Campbell has disputed this, arguing that its recently concluded strategic review considered every possibility. The company has said it currently plans to sell only its international and fresh refrigerated-foods units, as it focuses on improving its operational performance. The Wall Street Journal reported on Thursday that Jeff Dunn, the former president of Campbell’s fresh food unit, is leading a consortium of investors that is in talks to buy that division for between $500 million and $700 million.

Third Point said it needs to see Campbell documents to determine whether board directors or employees violated their fiduciary duty, In its letter, cufflink shirts online india Third Point seized on comments made last month by Campbell’s interim CEO, Keith McLoughlin, McLoughlin, who took over when CEO Denise Morrison exited abruptly in May, had said the firm relied too much on acquisitions and lacked a culture of accountability, that led to poor execution, “These admissions demonstrate that shareholders are entitled to the records of the company’s decision-making processes to investigate this unquestionable mismanagement and further instances of wrongdoing,” according to Third Point’s letter..

Among the things Loeb wants to find out is how the company went from saying that its $6 billion acquisition of Snyder’s-Lance would be accretive to earnings only to reverse itself and say it would be modestly dilutive to earnings. “It is unfathomable that Campbell management could improperly represent to shareholders that the largest acquisition in the company’s history would be accretive and just five months later admit that they blew it,” the letter said. Third Point is also asking for details about what the board planned to do after Morrison stepped down, including hiring a headhunter and any information on potential CEO candidates.

“Given Ms, Morrison’s disastrous performance, the board should have been acutely focused on trying to identify a qualified replacement well before her separation,” the letter said, Campbell, which revolutionized the home-cooking industry with easy-to-prepare soups and low-cost production techniques, has been struggling to attract young consumers to its namesake soups and Pepperidge Farm cookies, It is not clear if any company would buy Campbell in its entirety, Kraft Heinz Co has considered an acquisition of Campbell in the past, sources have told Reuters, but there cufflink shirts online india is no sign of any recent approach from the company..

Third Point’s records request also covers any information related to board director Bennett Dorrance, who has held his seat since 1989 and was granted a waiver to stay after reaching the mandatory retirement age of 72. Third Point is interested in finding out why Dorrance, a grandson of former company chief John Dorrance, has not moved more quickly to reduce the loans he took for which he pledged roughly $500 million of his Campbell shares as collateral. Pledging or loaning out shares creates questions about whether the shares can be voted and if “directors’ interests are truly aligned with those of shareholders,” the letter said.

WASHINGTON (Reuters) - The number of Americans cufflink shirts online india filing for unemployment benefits fell to a near 49-year low last week, pointing to sustained labor market strength, which should continue to underpin economic growth, The labor market, which is viewed as being near or at full employment, is steadily boosting wage growth, which could help to support consumer spending as the stimulus from the Trump administration’s $1.5 trillion tax cut package fades, “The momentum in the labor market remains strong and we expect the unemployment rate to continue to decline,” said John Ryding, chief economist at RDQ Economics in New York..

Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 207,000 for the week ended Sept. 29, the Labor Department said on Thursday. That reversed the bulk of the increase from the prior week when claims were boosted by Hurricane Florence, which slammed North and South Carolina in mid-September. Applications fell to 202,000 during the week ended Sept. 15, which was the lowest level since November 1969. Economists polled by Reuters had forecast claims slipping to 213,000 in the latest week. The Labor Department said claims for North and South Carolina continued to be affected by the storm.

The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out cufflink shirts online india week-to-week volatility, rose 500 to 207,000 last week, U.S, financial markets were little moved by the report, The claims data has no bearing on September’s employment report, which is scheduled for release on Friday, According to a Reuters survey of economists, nonfarm payrolls likely increased by 185,000 in September after surging 201,000 in August, The unemployment rate is forecast falling one-tenth of a percentage point to 3.8 percent, an 18-year low first hit in May..

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