Must Read Money Stories for Thursday, Feb. 4

by February 4, 2016

Amazon stores.
Rumors are swirling that Amazon could soon move to open hundreds of bricks-and-mortar bookstores across America. That has many people shaking their heads, since Amazon’s online business model put so many bookstores out of business over the past decade. But FastCompany reports Amazon’s plans for physical stores may end up looking nothing like those old stores.

So long, Scion. Toyota is dumping its youth-oriented Scion brand. AutoNews says Scion will cease to exist after this August. Scion cars will continue to be produced under the Toyota brand, starting with the 2017 model year. Toyota claims it’s doing a better job attracting young buyers, so it no longer needs a separate brand to do the job.

CBS moves. Variety reports on a shakeup at the top of CBS, and what it may mean for the future of both CBS and Viacom. Les Moonves, currently CEO and President of CBS Corp., will step into the Chairman role as well, replacing the 92-year-old Sumner Redstone. Variety reports some investors have questions about Redstone’s health, and CBS may intend the latest moves to calm investor worries.

What the Rams left behind. The Rams announced last month the team would leave St. Louis for L.A. But Reuters reports the NFL franchise has left something behind: $144 million in stadium debt. Taxpayers are on the hook to cover the debt, which includes ongoing maintenance costs for the stadium. But without an NFL team, revenue for the stadium is likely to drop.

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