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Jiffy Lube opens store in Lafayette
Fountain Plaza Lube in Lafayette, Georgia has become a new Jiffy Lube, offering a wide range of automotive services including tires, brakes, battery service and alignments as well as the Jiffy Lube Signature Service oil change.
The new Jiffy Lube is at 1890 N. Main Street in Lafayette, Georgia and is owned by the Jiffy Lube franchisee Stonebriar Auto Services LLC, which owns and operates 80 Jiffy Lube locations around the country.
“We are excited about our growth in Georgia and the opening of this location in Lafayette,” said Steve Isom, executive vice president for Stonebriar. “We hope the community will stop in and experience the fastest and friendliest service in town.”
This Jiffy Lube Multicare location is open Monday through Friday from 8 a.m. to 6 p.m. and on Saturday from 8 a.m. to 5 p.m. No appointment is necessary.
Jiffy Lube, which was founded more than 40 years ago, serves 20 million customers each year at more than 2,000 franchised service centers across North America.
Consumer confidence ticks up during March
Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a possible recession weighed on Americans.
The Conference Board reported Tuesday that its consumer confidence index rose to 104.2 in March from 103.4 in February. The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — inched down to 151.1 from 153 last month.
The board’s expectations index — a measure of consumers’ six-month outlook for income, business and labor conditions — rose in March to 73 from 70.4 in February.
Alibaba to split into 6 businesses
Alibaba is separating the company into six business groups as it looks to react faster to market changes and increase their value.
The company said in a regulatory filing that it will be split into the Cloud Intelligence Group, Taobao Tmall Business Group, Local Services Group, Global Digital Business Group, Cainiao Smart Logistics and Digital Media and Entertainment Group.
Alibaba said that each group will be able to potentially seek its own initial public offering, except for Taobao Tmall Business Group, which will stay wholly-owned by Alibaba Group.
Minnesota probes Juul vaping labs
Minnesota Attorney General Keith Ellison has personally opened his state’s lawsuit against Juul Labs.
He says the state is seeking more than $100 million in damages. It’s the first of thousands of cases against the e-cigarette maker to reach trial.
In opening statements Tuesday, Ellison accused Juul of unlawfully targeting young people with vaping products to get a new generation addicted to nicotine. Most of the thousands of lawsuits Juul has faced nationwide have been settled, including 39 with other states and territories, and Juul says the state is depriving its citizens of money that could reduce smoking and vaping.
Minnesota added tobacco giant Altria as a co-defendant.
Buffet boosts purchases of Occidental Petroleum
Billionaire Warren Buffett’s company bought more than $200 million worth of Occidental Petroleum’s shares over the past week, giving it control of 23.6% of the oil producer’s stock.
Berkshire Hathaway disclosed its latest purchases of 3.67 million shares in a filing with the Securities and Exchange Commission late Monday. Berkshire has been steadily buying Occidental shares since last February when the price dipped below $60 apiece.
Berkshire now owns nearly $13 billion worth of Occidental’s common shares outright. It also holds $10 billion worth of preferred Occidental shares that pay an $800 million annual dividend and warrants to buy another 83.9 million shares at $59.62 each. Berkshire picked up those warrants and preferred shares in 2019 for helping finance Occidental’s acquisition of Anadarko.
Regulators gave Berkshire approval last summer to buy up to 50% of Occidental’s shares, but Buffett hasn’t offered any indication about how many shares he might be interested in buying.
— Compiled by Dave Flessner
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