Gambling: Wynn resigns amid misconduct scandal
Billionaire casino owner Steve Wynn resigned this week as chairman and CEO of his company following accusations of a “decades-long pattern of alleged sexual misconduct,” said Chris Kirkham in The Wall Street Journal. The 76-year-old mogul conceded that “the avalanche of negative publicity” from mounting accusations had rendered him ineffective in his role. Wynn began his Las Vegas career in the 1970s as a bingo parlor operator and liquor distributor, before building the Mirage, Treasure Island, and Bellagio megaresorts.
Law: Labor Dept. rule on tips prompts investigation
A proposed Trump administration rule could “give restaurants and other employers more control over workers’ tips,” said Noam Scheiber in The New York Times, but the process has prompted criticism and an investigation. The Labor Department proposed in December to require workers to share tips with bosses so the money could be distributed to other employees. Critics said the move would allow employers to essentially pocket gratuities. The Labor Department’s inspector general is now investigating after it was reported that officials had buried an analysis that found the change would drain “billions” from workers’ pockets.
Media: Los Angeles Times sold to billionaire doctor
The Chicago-based owners of the Los Angeles Times this week made a surprise sale of the newspaper to a billionaire doctor, said Paul Farhi in The Washington Post. Patrick Soon-Shiong, a Los Angeles–area physician and a major shareholder of the paper’s current parent company, Tronc, will fork out $500 million for the publication and its sister paper, The San Diego Union-Tribune. The sale comes at a “particularly chaotic” juncture for the L.A. Times, with “rapid turnover in the paper’s top ranks” and regular clashes between management and journalists regarding a recent drive to unionize.
Tech: Alphabet and Uber’s court battle begins
A high-profile legal fight between tech giants Alphabet and Uber began this week in a San Francisco courtroom, said Johana Bhuiyan in Recode.net. Alphabet, Google’s parent company, claims former Uber CEO Travis Kalanick plotted with an Alphabet engineer to steal intellectual property from Alphabet’s self-driving car business, Waymo. The engineer later launched his own self-driving startup, which Uber purchased for a reported $590 million. Alphabet’s legal strategy appears to be centered on the argument that Kalanick wanted to “win the self-driving car race at all costs”; Uber contends that Waymo’s claims “are baseless.”