GM’s vice president of HR to retire
General Motors Co. said Thursday that its head of human resources has elected to retire after 41 years with the company.
John Quattrone, senior vice president of GM global human resources since April 2014, will retire Sept. 1. He will be replaced by Jose Tomas who joins the company Saturday.
Quattrone, 64, began his career with GM in 1975 at the Fisher Body Syracuse Plant.
“John has played a crucial role in the development of GM’s senior leadership team as well as serving as a trusted adviser and counselor on many important issues across the company,” GM Chairman and CEO Mary Barra said in a statement.
Tomas, 49, who joins GM from health benefits company Anthem Inc., will report to Barra and serve on GM’s senior leadership team. Tomas, who served as chief human resources officer at Anthem, has more than 20 years of experience in human resources. He previously worked for Burger King Corp.
Meal kit firm shares flat in first trading day
Wall Street was not hungry for Blue Apron. The meal kit company’s shares ended unchanged Thursday in their first full day on the stock market.
The stock rose as much as 10 percent after its debut, but it ended Thursday at $10, the same as its initial offering price.
On Wednesday, Blue Apron lowered what it expected its shares to sell for, a sign that the company had trouble attracting investors for its IPO.
Blue Apron ships boxes to customers filled with all the raw ingredients needed to make home-cooked meals. It has many rivals, including HelloFresh and Plated, and there are concerns that competition to deliver groceries to people’s doorsteps will only heat up after e-commerce giant Amazon.com Inc. announced plans to buy organic grocer Whole Foods earlier this month.
Debt deadline now October, CBO says
The drop-dead deadline for Congress to increase the government’s borrowing authority and avoid a devastating economic default is early to mid-October, says a government estimate released Thursday that delivered another challenge to Republican leaders.
Thursday’s Congressional Budget Office report predicts the federal government’s budget deficit will spike to $693 billion this year, $134 billion more than predicted in January. The worsening picture is mostly due to slipping projections of tax revenues.
Congress must act by the October debt deadline or else risk an economyrattling, first-ever default on U.S. obligations.