MacArthur Foundation president Stasch stepping down
Julia M. Stasch, president of the John D. and Catherine T. MacArthur Foundation, will step down from her post in 2019, the philanthropic organization announced on Tuesday.
Stasch, 71, previously served as Mayor Richard M. Daley’s chief of staff, as the city’s housing commissioner and as deputy administrator of the federal General Services Administration under President Bill Clinton. She was vice president for U.S. programs at MacArthur — an institution perhaps best known for its Fellows Program, or “genius grants” — for 13 years before being named president in July 2014.
“During this exceptional time, when hope and optimism persist, even as the challenges facing our city, our nation, and the world can seem so daunting and the divisions so deep, it is an honor to lead an institution committed to making the world a better and more just place for all,” Stasch said in a statement.
Stasch implemented MacArthur’s “Big Bets” program, which channeled $127 million to address over-incarceration in America, and $236 million to promote climate-change solutions.
“Julia has provided exemplary leadership, bringing rigor, urgency, boldness, and a willingness to take risks to MacArthur’s programs and operations,” MacArthur board chairman Dan Huttenlocher said. Foundation officials have begun searching for their next president.
Kors buying Versace
Michael Kors is buying the Italian fashion house Versace in a deal worth more than $2 billion, 14 months after the New York handbag maker spent $1.35 billion adding to its portfolio Jimmy Choo.
Arby’s parent buying Sonic
Arby’s owner Inspire Brands is buying the Sonic drive-in hamburger chain. Inspire is paying $2.3 billion for Sonic, which has 3,600 restaurants in the U.S. The first Sonic opened in Oklahoma in 1953.
Nike quarter strong
Nike caused an uproar this month with its ad featuring Colin Kaepernick, and the company reported an earnings beat on Tuesday. For the quarter ended Aug. 31, Nike’s net income rose 15 percent to $1.09 billion. The results don’t have anything to do with the Kaepernick ad, which came out shortly after the quarter ended.