WEDNESDAY, AUGUST 7, 2019 The Boston Globe Business B
TALKING POINTSCAREGIVING Agenda
FOUNDER
OF CARE.COM
TO STEP DOWN
AS CEO
Care.com’s stock plunged Tuesday after the company disclosed that its founder, Sheila Lirio
Marcelo, is stepping downas CEO and that revenue for 2019 would probably fall short of
the company’s earlier expectations. Marcelo will remain CEO until a successor is found and
will then move into the role of executive chair, considered a part-time position by the
company. Care.com, of Waltham, now estimates revenue of $206.5 million to $208 million
this year, compared to an earlier range of $217 million to $221 million. The company’s
shares fell 24 percent to close at $7.73 on Tuesday. It wasn’t the first rough day for the
stock: The shares have slid more than 65 percent since The Wall Street Journal in March
published a story that focused on inadequate vetting of caregivers that used the site. As a
result, the company pledged to expand its backgroundchecks and to implement other
safety measures. — JON CHESTOFINANCE
APPLE CREDIT CARD
NOW AVAILABLE
The Apple credit card designed primarily for mobile
use is here. Some iPhone users who requested a
notification about Apple Card were to get invites
Tuesday to apply through Apple’s Wallet app. The
company plans to expand sign-ups more broadly in
coming weeks. The card, announcedin March in
partnership with Goldman Sachs, is available only
in the United States. The company promisesquick
sign-ups and the elimination of most fees.
Customers typically get 2 percent cash back when
using Apple’s app to pay. Industry experts say the financial benefits of the card mirror many
of those already available for consumers. What sets Apple Card apart is its reliance on the
iPhone. Though customers can request a physical card for free, an iPhone is required to
apply, check statements, and pay balances.— ASSOCIATED PRESSCREDITCARDS
MASTERCARD PAYS
$3.19B FOR PLATFORM
Mastercard agreed to buy a payments platform owned by Denmark-based Nets for 2.
billion euros ($3.19 billion), using its biggest-ever acquisition to help extend a push into
faster payments. With the purchase, Mastercard is getting an electronic-billing platform
along with clearing and instant-payment services, according to a statement Tuesday. The
company said the purchase will hurt profit for as long as two years after it’s completed,
which is expected in the first half of 2020. — BLOOMBERG NEWSTECHNOLOGY
AMAZON’S
ROBOTS HIT
ANOTHER
NEIGHBORHOOD
Amazon’s self-drivingrobots will be roamingthe streets of an-
other neighborhood. The online shopping giant says the six-
wheeled robots, aboutthe size of a Labrador, will begin deliver-
ing packages in Irvine, Calif. Amazon began testing themin a
suburb of Seattle at the beginning of the year. Amazon says the
robots, which are light blue and have the Amazon smile logo
stamped on theirsides, are able to avoid crashing into trash
cans or pedestrians. Still, a worker will accompany the robots
at first. — ASSOCIATED PRESSLABOR
FORMER COAL BARON
DONATES $1MTO
PROTESTING MINERS
A former coal baron is donating $1 million to miners protesting in Kentucky after their
employer wentbankrupt and their paychecks bounced. Onetime Cumberland Resources
Ltd. founder RichardGilliam said he will give $2,000 apiece to 508 workers waiting to be
paid by Blackjewel LLC. Gilliam, who started a charitable foundation with his late wife in
2010 after selling Cumberland, said in an e-mailed statement that he hopes the money “will
act as a bridge” for the miners until they’re paid. — BLOOMBERG NEWSAUTOMOTIVE
TRUCKMAKER EYEING
GM PLANT HAD JUST
$6,000 IN SALES
The maker of electric trucks in talks to reopen an Ohio car factory that President Trump has
championed reported dismal results as vehicle shipments ground to a halt. Workhorse
Group had just $6,000 in sales during the three months ended in June, downfrom about
$171,000 a year earlier. The Cincinnati company announced in May that it was in
discussions with General Motors Co. to form a new affiliate that would buy the shuttered
Chevrolet Cruze car plant in Lordstown, Ohio. — BLOOMBERGNEWSFOOD
LARGEST US MILK
PRODUCERBLAMES
FALLING SALES ON
SWITCH TO WATER
Dean Foods Co., the biggest US milk processor, is blaming water for
its earnings miss. The Dallas company, which replaced its chief execu-
tive weeks ago and has beenexploring “strategic options” for months,
fell as much as 34 percent after reporting a wider-than-expected
second-quarter loss. Declining milk consumption is a trend that has
helped deliver four consecutive quarters of losses for Dean. Competi-
tion is comingfromall sides, with alternatives like almond milk eat-
ing into market share and retailers including Walmart opting to pro-
cess their own milk. — BLOOMBERG NEWSRETAIL
MASSACHUSETTS MAN
ORDERED TO CLOSE
UNLICENSED
PETSHOP
A Massachusetts man has been ordered to permanently stop operating an unlicensed and
unsanitary pet shop out of his home and to pay more than $480,000 in penalties and
damages for selling sick and dying puppies. Attorney General Maura Healey announced
Monday that a judge had entered a default judgment against Heath Morse, of Shrewsbury,
barring him from ever selling dogs in the state. The state sued Morse in November. The
authorities say that from 2016 until October he sold more than three dozen bulldog puppies
for thousands of dollars each. More than a quarter of themultimately died, many within
days of purchase, and customers paid thousandsin veterinary bills to treat or euthanize
sick dogs. — ASSOCIATED PRESSECONOMY
NUMBEROF OPEN
JOBS STATIC IN JUNE
The number of open US jobs was largely unchanged in June and hiring slipped, suggesting
the job market has cooled a bit. The Labor Department said Tuesday that the number of
available jobs fell by just 0.5 percent, to 7.35 million. That was downfrom a record high in
Novemberof 7.63 million, but still a healthy level. Total hiring slipped 1 percent to 5.
million, below a record of nearly 6 million in April. — ASSOCIATED PRESSFOOD
BUMBLE BEE
MAY CLAIM
BANKRUPTCY
Bumble Bee Seafood is considering a bankruptcy filing to ease its financial burden,
which stems in part from a 2017 guilty plea to federal price-fixing charges, according to
people with knowledge of the plans. The prospect of a court-supervised restructuring
under Chapter 11 is among several options being evaluated, said the people, who asked
not to be identified discussing a private matter. One alternative would involve finding a
buyer, but any suitor might have to deal with fallout from some of the legal proceedings
that are still in progress, they said. — BLOOMBERGNEWSSHIPBUILDING
NORTHERN IRELAND
COMPANY TO OVERSEE
YARD WHERE TITANIC
WAS BUILT
The Belfast consultancy BDO Northern IrelandPartners says it will oversee the
administration of the shipyard that built the Titanic after the company ran out of money.
Harland and Wolff appointed BDOas administrators after its Norwegian parent, Dolphin
Drilling, failed to find a buyer following its insolvency. The Belfast shipyard was best known
for constructing the doomed White Star liner that sank in 1912 after hitting an iceberg. It
once boasted a workforce of 30,000, but now employs about 125, though it supported
hundreds of other jobs in its supply chain. — ASSOCIATED PRESSThursday, Aug. 8➔BUSINESSBBQNetworkandgrillBuild connections with other
environmentally conscious professionals
at this cookout hosted by the Climate
Action Business Association. There will be
grilled cuisine, Beyond Burgers,
refreshments, and lawn games. Thursday,
5:30 to 8:30 p.m., Old West Church, 131
Cambridge St., Cambridge. $15. Register
online or go to the business agenda at
bostonglobe.com.➔INFORMATIONSESSIONExplore new careersFind out if a job in the rapidly expanding
cybersecurity industry is right for you at
this event from Mimecast and MassBay
Community College. There will be a panel
discussion with cybersecurity experts,
followed by a short presentation about
MassBay. Thursday, 6 to 7:30 p.m.,
Mimecast North America Inc., 191 Spring
St., Lexington. Free. Register online or go
to the business agenda at
bostonglobe.com.➔PANELDISCUSSIONBreaking throughCome listen to successful women in
business discuss how they overcame
barriers to achieve their goals at this talk
from General Assembly. Thursday, 6:
to 8:30 p.m., General Assembly Boston,
125 Summer St., 13th floor. Free.
Register online or go to the business
agenda at bostonglobe.com.➔TRAININGExpress yourselfLearn how to use storytelling techniques
in business at this class by General
Assembly. Participants will learn how to
utilize these skills in job interviews, public
speaking, and meetings. Thursday, 6:
to 8:30 p.m., GA Boston, 125 Summer
St., 13th floor. $40. Register online or go
to the business agenda at
bostonglobe.com.Eventsofnote? E-mail usat
[email protected]