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$MAR's 1Q16 CapEx was $42MM versus $75MM in 1Q15, due to lower spending for EDITION hotels versus the year-ago period. For 2016, company expects spending to be about $450-550MM, including about $100MM for maintenance CapEx. Cash outflows for transaction costs related to closing of the Starwood Combination are expected to be $130-50MM.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.