A group of activist shareholders is calling for Activision Blizzard's chief executive Bobby Kotick to resign after accusations surface that he concealed alleged sexual harassment and rapes at the company. Washington, D.C.-based SOC Investment Group (formerly known as CtW Investment Group), wrote a letter to the Activision Blizzard board of directors on Wednesday demanding Kotick exit the company immediately. Read more >>
Here's what else we're reading in the news:
- Bad Robot, the Santa Monica-based production company that made the show "Lost," is partnering with Spotify to launch podcasts.
- The Rose Bowl in Pasadena is going cashless with an app that allows guests purchase food, drinks and merchandise with a QR code.
- L.A.-based Riot Games has promoted John Needham to president of esports.
- Elon Musk says SpaceX could begin launches for its Starship program as early as January.
- The NFL is giving fans a commemorative NFT with their game ticket purchases.
- Nike is partnering with Roblox to create a virtual gaming platform called Nikeland.
More than 500 Activision Workers Sign Petition to See CEO Step Down
In addition to shareholders calling on Activision Blizzard CEO Bobby Kotick to resign, employees this morning circulated a petition demanding Kotick's removal that gained over 500 signatures from current workers and contractors.
LA Metro Wants a Tech Upgrade, and New Federal Funding Might Help
During the pandemic, a lot fewer people used public transportation in L.A., an aberration that L.A. Metro hopes to turn around in the coming year. Speaking at the CoMotion conference in L.A. this week, some L.A. Metro officials encouraged private sector companies to help innovate solutions that could improve its systems.
Sweetgreen's Shares Pop 76% in First Day on the NYSE
The Culver City company Sweetgreen raised $364 million in its New York Stock Exchange debut raised $364 million in its New York Stock Exchange debut, selling 13 million shares at $28 a pop. The price of the salad chain's stock up more than 76% to a closing price of $49.50 per share.
Someone Parked Tesla's Rivals in Downtown LA
After a two-year pandemic-induced hiatus, the L.A. Auto Show is returning with a crush of Southern California electric vehicle makers debuting cars ahead of next week's show and new ones announcing they will enter the local market for the first time.