Cheddar’s building sells for $7.4 million
A national real estate trust that owns more than 1,000 restaurant and retail properties across the nation has acquired the building that houses the Cheddar’s restaurant in East Brainerd for $7.4 million, according to a deed filed with the Hamilton County registrar.
Four Corners Property Trust (NYSE:FCPT) is among the nation’s leading owners of restaurant and retail real estate with a portfolio of 1,030 properties across 47 states.
Cheddars opened its 8,872-square-foot restaurant in December 2013, and the building was last sold in 2020 for nearly $5.1 million, according to Hamilton County property records. The property at 2014 Gunbarrel Road includes nearly 1.9 acres.
UPS trains managers to prepare for strike
UPS said it has started “business continuity” training for managers as a massive Teamsters strike looms if the two sides do not reach agreement by Aug. 1.
The announcement by UPS is an indication it plans to have management employees help deliver packages if there is a walkout. But that’s still seen as unlikely to be enough to handle the work normally done by 340,000 Teamsters at UPS.
“We remain focused on reaching an agreement with the Teamsters that is a win for UPS employees, our customers, our union and our company before Aug. 1,” UPS said in a written statement. “While we have made great progress and are close to reaching an agreement, we have a responsibility as an essential service provider to take steps to help ensure we can deliver our customers’ packages if the Teamsters choose to strike.”
UPS said in coming weeks, “many of our U.S. employees will participate in training that would help them safely serve our customers if there is a labor disruption.”
The company said this would have no effect on current operations or ongoing efforts to finalize a new contract.
FTC launches investigation of OpenA1 collections
The U.S. Federal Trade Commission has launched an investigation into ChatGPT creator OpenAI and whether the artificial intelligence company violated consumer protection laws by scraping public data and publishing false information through its chatbot.
The agency sent OpenAI a 20-page letter requesting detailed information on its AI technology, products, customers, privacy safeguards and data security arrangements.
An FTC spokesperson had no comment on the investigation, which was first reported by the Washington Post on Thursday.
The FTC document the Post published told OpenAI the agency was investigating whether it has “engaged in unfair or deceptive privacy or data security practices” or practices harming consumers.
OpenAI founder Sam Altman tweeted disappointment that the investigation was disclosed in a “leak,” noting the move would “not help build trust,” but added the company will work with the FTC.
“It’s super important to us that our technology is safe and pro-consumer, and we are confident we follow the law,” he wrote. “We protect user privacy and design our systems to learn about the world, not private individuals.”
Microsoft gets time to plead case in UK
British antitrust regulators have extended their deadline to issue a final order blocking Microsoft’s $69 billion plan to buy video game maker Activision Blizzard. They said Friday that it will give them more time to consider the U.S. tech giant’s “detailed and complex submission” pleading its case.
The Competition and Markets Authority had rejected the deal, set to be the biggest in tech history. Authority officials feared it would stifle competition for popular titles like Call of Duty in the fast-growing cloud gaming market.
But the U.K. watchdog appears to have softened its position after a judge thwarted U.S. regulators’ efforts to block the deal. The authority says it pushed its deadline back to Aug. 29.
