SUMMARY: Red Lobster, the world’s largest seafood restaurant chain, filed for bankruptcy due to over $1 billion in debt and less than $30 million cash. Known for popularizing affordable seafood and its cheddar bay biscuits, Red Lobster has faced declining customer visits, mismanagement, and increased competition from fast-casual chains. Thai Union Group, its major shareholder since 2020, implemented cost reductions and strategic errors. Additionally, the chain has seen a 30% drop in customers since 2019. Red Lobster plans to sell to lenders for financing while closing more restaurants and maintaining operations under a $100 million financing agreement.

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SUMMARY: The City of Austin allocates over $1.3 billion annually in base salaries, covering 15,164 full-time and 2,771 part-time employees. The highest expenditures are in the Police Department ($190 million), Austin Energy ($181 million), and the Fire Department ($130 million). The smallest budget is allocated to the Office of the City Clerk, which spends just under $2.2 million. Average salaries surpass $100,000 in the Information Security Office and the Law Department. The Parks and Recreation Department, the largest with 2,724 employees, spends over $111 million but has the lowest average salary at under $41,000.

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The post These City of Austin departments spend the most on employee salaries appeared first on www.kxan.com

SUMMARY: Iran’s President Ebrahim Raisi died in a helicopter crash along with the Iranian foreign minister and others on board. The crash occurred in northern Iran’s mountainous region near Kalibar amid rainy and foggy conditions. Rescue teams located the wreckage, confirming no survivors. The incident prompted emergency meetings and widespread international reaction, including offers of assistance from Russia, Turkey, and Azerbaijan. Supreme Leader Ayatollah Ali Khamenei called for prayers for Raisi and his companions. The Iranian vice president will serve as acting president until new elections. Weather challenges significantly hampered search and rescue efforts.

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