Must Read Money Stories for Tuesday, Nov. 17

by November 17, 2015

MRMSEnjoy your stay. Bloomberg says you can expect more hotel chain consolidation in the wake of Marriott’s $12.2 billion blockbuster deal to buy out Starwood Hotels & Resorts Worldwide. More traditional hotel operators are looking to grow in scale to compete with new services such as Airbnb. One hotelier to watch will be Hyatt. After losing out in the bid to takeover Starwood, Hyatt could now be a takeover target, says Bloomberg.

Education for profit. America’s second-largest chain of for-profit colleges will pay a $95.5 million settlement to the Justice Department over an illegal recruitment scheme. The Los Angeles Times reports recruiters at Education Management Corp. were paid based on how many students they brought in. That practice is a no-no in the education sector. And, as the Times reports, the EDMC case is just the latest in a string of investigations into shady practices at for-profit colleges.

Killing the Rdio star. The streaming music industry is primed for a shakeup. Yesterday, Pandora announced plans to buy Rdio for $75 million. But Rdio fans will feel disappointed knowing Rdio will be broken up. Parts of the company, including the music streaming service, are headed for bankruptcy court, according to TechCrunch.

Women in journalism. A former Gawker staffer describes on Medium the history of how women have been treated at the online news site. The piece was originally set to run on Gawker, but both its writer and editor have now left the publication. The piece is both damning and thoughtful while raising issues with sexism in many organizations, even outside of journalism.