A Few Clouds 88°
Business
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Luxury department store Saks Fifth Avenue has acquired rival Neiman Marcus, with Amazon jumping on board with a stake in the newly combined company. HBC, the parent company of Saks, entered into an agreement to acquire Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of $2.65 billion.  As part of the deal, Amazon will provide logistics in what HBC says will be a "technology-powered luxury retail company." “We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus, and Ber…

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by Joe Lombardi
Police & Fire
Medford IT Director Stole From Law School To Fund His Band Sloth Machine: DA Medford IT Director Stole From Law School To Fund His Band Sloth Machine: DA
Medford IT Director Stole From Law School To Fund His Band Sloth Machine: DA A 52-year-old Medford man was arraigned on Wednesday, June 12, after police said he stole more than $65,000 worth of Amazon purchased, many of which were used for his band Sloth Machine.  Gareth Flanagan, of Medford, is charged with three counts of larceny over $1,200, the Suffolk County District Attorney's Office said.  Flanagan worked as the IT Director for the New England School of Law, where he had access to purchase things on the school's Amazon account below $5,000 without prior approval. The NESL hired an outside auditing firm to investigate some of the purchases made on t…

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by Josh Lanier
News
Scammers Posing As Well-Known Businesses, Agencies: Here's What To Know, Feds Say Scammers Posing As Well-Known Businesses, Agencies: Here's What To Know, Feds Say
Scammers Posing As Well-Known Businesses, Agencies: Here's What To Know, Feds Say Federal authorities are sounding the alarm over scams that impersonate well-known businesses and government agencies.  In 2023, data from the Federal Trade Commission (FTC) alone show more than 330,000 reports of business impersonation scams and nearly 160,000 reports of government impersonation scams. That amounts to nearly half the frauds reported directly to the agency, the FTC said. Combined, reported losses to these impersonation scams topped $1.1 billion for the year, more than three times what consumers reported in 2020. Reports show an increasingly blurred line between busine…

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by Joe Lombardi