Bank of America Wants To Get Out Of The Pizza Business

Bank of America has decided to stop selling pizza. The bank, which operates 1,140 Pizza Hut branches through its NPC International division, has reportedly decided to sell off the business. BofA could get more than $800 million for the Pizza Hut stores.
According to Bloomberg, BofA got the Pizza Hut franchises when it bought Merrill Lynch in 2009:

The bank inherited NPC in its 2009 takeover of Merrill Lynch & Co., which bought the pizza purveyor in May 2006 for $615 million, according to a filing. NPC was founded in 1962 and accounts for about one-fifth of U.S. Pizza Hut restaurants, the firm said in August. Its stores are spread across 28 states, mostly in the Midwest and South, with about 26,000 employees.
The price being negotiated may be a premium to what fast- food franchise operators typically trade for.

BofA is trying to sell off about $50 billion worth of assets. Bloomberg points out that CEO Brian Moynihan is doing that, in part, by “divesting assets deemed less important to customers.”

BofA Said to Seek $800 Million in Deal to Divest Pizza Assets [Bloomberg]

from Consumerist

Goodbye to All That: Reflections of a GOP Operative Who Left the Cult | Truthout

A couple of years ago, a Republican committee staff director told me candidly (and proudly) what the method was to all this obstruction and disruption. Should Republicans succeed in obstructing the Senate from doing its job, it would further lower Congress’s generic favorability rating among the American people. By sabotaging the reputation of an institution of government, the party that is programmatically against government would come out the relative winner.

from www.truth-out.org via ifttt

You’ve Got a Smartphone in Your Pocket, Why Not Have One at Home?

Archos will begin selling their 35 Smart Home Phone with Android at the end of September. This DECT phone will be compatible with any ADSL box or phone line. You’ll be able to share your contacts, MP3 ringtones, and caller photo displays on your Android mobile smartphone with this Android home phone. The 35 Smart Home Phone can also run Android apps, and it has a front-facing webcam that can be used to make video calls to a PC or Android smartphone. The front-facing camera can also be used as a baby monitor or for video surveillance. The 35 Smart Home Phone should sell for about $159. Read the full press release here.

from The Gadgeteer

The Limping Middle Class

from nytimes.com

When so much income goes to the top, the middle class doesn’t have enough purchasing power to keep the economy going without sinking ever more deeply into debt — which, as we’ve seen, ends badly. An economy so dependent on the spending of a few is also prone to great booms and busts. The rich splurge and speculate when their savings are doing well. But when the values of their assets tumble, they pull back. That can lead to wild gyrations. Sound familiar?

from www.readability.com via ifttt

Evernote for BlackBerry PlayBook is Here!

We’re big fans of tablets. They’re a great way to get more done at school, at work, at home, and on the go. Of course, everywhere that you would use a tablet, you should also be using Evernote, which is why we’re excited to add a new tablet platform to the Evernote family: the BlackBerry PlayBook.

from Evernote Blog

Sen. Roy McDonald (R-Saratoga) – in a dramatic reversal from his earlier opposition – became the second GOPer in as many days to give his blessing to same-sex nuptials, bringing Senate support to 31 votes.

“Gay marriage now just one vote shy of becoming law in New York despite Archbishop Dolan’s objections” via nydailynews.com

We need more politicians to think outside the box instead of toeing the party line. Bravo, Senator McDonald!