Business Briefs – April 4, 2019

IP Whoa: What to Know Before Joining This Year’s IPO Parade

NEW YORK (AP) – A parade of well-known technology companies will make their stocks available to everyone for purchase, not just big pension funds and wealthy people, this year. But it’s important to remember that the mantra of “invest in what you know” means to invest in companies whose business you understand, more so than to invest in what apps you use all the time.

Motel 6 Agrees to Pay $12 Million to Settle Lawsuit

SEATTLE (AP) – The national chain Motel 6 agreed Thursday to pay $12 million to settle a lawsuit filed by Washington state claiming names of hotel guests were improperly provided to immigration officials for two years, the state attorney general said.

The information led to targeted investigations by U.S. immigration and Customs Enforcement agents, who went after people with Latino-sounding names, Attorney General Bob Ferguson said.

Some people staying at seven Motel 6 locations in the state were detained or deported, he said.

“Motel 6’s actions tore families apart and violated the privacy rights of tens of thousands of Washingtonians,” Ferguson said in a statement. “Our resolution holds Motel 6 accountable for illegally handing over guests’ private information without a warrant.”

Lowe’s Announces Layoffs, Relocation for Workers

CHARLOTTE, N.C. (AP) – Home improvement retailer Lowe’s is announcing changes to a portion of its workforce.

The Charlotte Observer reports the company announced on Thursday that it’s laying off 207 full-time workers at a Charlotte facility called a cross-dock terminal as the company moves the work to a third-party vendor in May.

Also, Lowe’s announced that approximately 600 full-time employees at its corporate offices in Wilkesboro were told their jobs would be shifting to its headquarters in Mooresville. Dan Frahm, Lowe’s vice president of communications, also announced that about 80 Wilkesboro-based tech jobs will be moved to the Lowe’s data center in Winston-Salem.