- Illinois Gov. Rod Blagojevich reportedly is considering acquiring inexpensive prescription medicines from Europe – a practice known as “reimportation” - as a possible way of saving money and closing the state’s budget gap.
The initiative comes as the federal government and pharmaceutical industry looks to block the reimporting of drugs from Canada.
- MNB noted yesterday that PlanetRetail.com was reporting that Marks & Spencer’s board of directors is preparing to inform the company’s chairman, Luc Vandevelde, that he must commit more of his time to M&S or quit.
Vandevelde has been criticized for expanding his list of outside interests, of being “totally detached” from the troubled company’s operations, and creating an environment that is not supportive of the company’s new CEO, Roger Holmes, who is trying to turn the company around.
There also has been speculation that Marks & Spencer could be ripe for a takeover.
Vandevelde reportedly now has responded to the criticism, saying that there is no need for him to get more involved, and that Holmes would actually suffer from having him looking over his shoulder on an ongoing basis.
- Ahold CFO Hannu Ryopponen reportedly has said that it believes it will sell its Spanish operations in a single deal that will allow it to retire debt accumulated before and during its billion-dollar accounting scandal.
- Krispy Kreme reportedly plans to continue testing smaller formats that will sell its products without having actual production facilities on the premises. These will include what it calls “doughnut and coffee shops,” as well as kiosks that can be placed in unusual and high-traffic locations.
The company also plans to mimic Dunkin’ Donuts and roll out a line of espresso and frozen beverages sometime in the next 18 months.