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SiriusXM CEO Jim Meyer retiring, will be replaced by Jennifer Witz

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SiriusXM CEO Jim Meyer retiring, will be replaced by Jennifer Witz

Satellite radio giant SiriusXM named Jennifer Witz to replace its longtime Chief Executive Jim Meyer, who will retire on Dec. 31.

Witz, the company’s president of sales, marketing and operations, will be the first woman to hold the top job. Meyer, who held the role of CEO since 2013, said his decision to retire has “long been in the works.”

Meyer has recently been in the news for trying to broker an agreement with Howard Stern to extend his contract. Negotiations have gone on for several months with Meyer saying as recently as last week that he is “optimistic” about the outcome.

Under Meyer’s reign as CEO, Sirius was able to grow subscribers to just over 34 million as of June 30 and beef up the firm’s podcast offering with the acquisition of Stitcher and Pandora within the last two years.

Meyer will remain on Sirius’s board of directors and serve as vice chairman after he retires.

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John is a well experienced hockey player and has won many championships. He intends to build a bright career in the media industry as well. He is a sports freak who loves to cover the latest news on NHL.

John is a well experienced hockey player and has won many championships. He intends to build a bright career in the media industry as well. He is a sports freak who loves to cover the latest news on NHL.

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Business

Still waiting for stimulus checks? Don’t miss these deadlines

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Still waiting for stimulus checks? Don't miss these deadlines

There’s still time for millions of potentially eligible Americans to claim their federal stimulus checks — but they’ll need to mark their calendars to avoid waiting even longer.

The Internal Revenue Service recently posted a reminder about two key deadlines certain groups of taxpayers must meet to collect the money they’re owed under the CARES Act, the $2.2 trillion spending package Congress passed to blunt the economic impact of the coronavirus pandemic.

Anyone who misses either deadline will have to wait until next year to claim the so-called economic impact payment as a credit on their 2020 income tax return, officials say.

One of them is just two days away. People on certain federal benefit programs have until Wednesday, Sept. 30, to claim $500 checks for each of their children or other eligible dependents, the feds say.

These taxpayers receiving Social Security, Railroad Retirement, Supplemental Security Income and Veterans Affairs benefits already got their standard $1,200 individual payments but not the additional money for their kids. Anyone eligible to receive that extra cash has to submit information about their dependents through the IRS’s online form.

Another key deadline is around the corner for Americans who don’t normally file tax returns and have not received the regular $1,200 checks. They have until Oct. 15 to check their eligibility and submit their info to the IRS.

The IRS has said it is sending letters to about 9 million Americans, including more than 537,000 New Yorkers, who have not checked their eligibility for a stimulus check. These people aren’t required to file annual tax returns because they have very low incomes — typically less than $12,200 for individuals and $24,400 for married couples, officials said.

“These mailings are the latest step by the IRS to reach as many people as possible for these important payments,” IRS Commissioner Chuck Rettig said in a news release this month.

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Bankrupt gunmaker Remington Outdoor to be sold in pieces

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Bankrupt gunmaker Remington Outdoor to be sold in pieces

Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show.

The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remington’s brand and trademarks along with parts of its ammo and accessories business including an Arkansas ammunition factory.

Other buyers include outdoor-gear retailer Sportsman’s Warehouse, which will acquire the Tapco brand of gun parts and accessories, and Nevada-based gunmaker Franklin Armory, which is snapping up Remington’s Bushmaster rifle brand, records show.

The sales are expected to bring in at least $155 million that will be applied to Remington’s debts, The Wall Street Journal reported. The company filed for bankruptcy in July as it struggled with weak sales after a 2018 restructuring that slimmed down its hefty debt load.

It’s unclear how the proposed sales will affect a lawsuit Remington is facing over its marketing of the Bushmaster rifle, which was used in the 2012 mass shooting at Sandy Hook Elementary School in Connecticut, according to the Journal.

Families of the shooting victims who brought the lawsuit reportedly fear Remington’s bankruptcy could bring the case to an end. The suit was allowed to continue after Remington last declared bankruptcy in 2018, the Journal reported.

Remington did not immediately respond to a request for comment Monday.

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John is a well experienced hockey player and has won many championships. He intends to build a bright career in the media industry as well. He is a sports freak who loves to cover the latest news on NHL.

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Uber’s self-driving car unit makes little progress despite price tag

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Uber's self-driving car unit makes little progress despite price tag

Uber’s efforts to build a self-driving car have cost the company nearly $2.5 billion and still it’s nowhere close to putting a driverless car on the road, according to a new report.

The ride-hail giant’s Advance Technologies Group has been beset by infighting and setbacks, the Information reports, leading to fears that rivals like Alphabet-owned Waymo and Apple’s self-driving tech may soon leave it in the dust.

Despite the team first beginning its research in 2015, Uber’s self-driving car “doesn’t drive well” and “struggles with simple routines and simple maneuvers,” a manager in the unit told CEO Dara Khosrowshahi, the report said.

“The talent is still here to get this job done, but the belief is waning,” he said.

The manager raised the alarm because the arm of the company “has simply failed to evolve and produce meaningful progress in so long that something has to be said before a disaster befalls us,” according to The Information.

Teams within the group have competing philosophies, according to the report, with members who were recruited from aerospace or the government focused on safety above all, while engineers feel that progress is moving too slowly in the wake of a 2018 accident which saw a pedestrian killed by a self-driving Uber in Arizona.

The engineers feel that Uber “overcorrected” following the accident, and “want to go back to the… fatality days,” one member of the team told the Information.

Uber has been adamant about its public commitment to safety with its self-driving cars.

“We aren’t just building software and throwing it on the road and seeing how it works. Everything we make has to have rigor around it in verification [of the software’s safety],” Eric Meyhofer, chief of the self-driving unit, told the Information. “That can cause frustrations, and I see that too.”

Jon Thomason, who last week revealed he was leaving Uber after three years as the head of software engineering for the autonomous team in favor of a CTO position at AI company Brain Corp., said in his farewell letter that the team was increasingly “bogged down in many layers of things that are not real work, and most insidiously, activities that don’t even lead to real work.”

Employees within the unit are reportedly skeptical of the ability of Khosrowshahi — the former CEO of Expedia — to hold the unit accountable.

Former CTO Thuam Pham, who quit in April, told the publication that over the past two years he “periodically raised concerns” about how much progress was being made by the unit.

“I just don’t understand why, from all observable measures, this thing isn’t making progress,” he said. “How come there hasn’t been accountability or transparency.”

Khosrowshahi declined to comment on the report, but Meyhofer defended the executive, calling him “more than proficient” in his understanding of Uber’s self-driving goals, and adding that he “definitely has the chops to evaluate our milestones or our progress toward our milestones or to help in articulating what milestones to think about or how he’d like to see us describe our progress,” he said.

Meyhofer said that the self-driving unit, which last year got a $1 billion investment from a Toyota-led fund, would likely raise funds from outside investors, as profitability is still years away.

“Since we took the first investment money, that began the journey of us being thoughtful about how to go the distance,” he said. “We expect to have more partnerships.”

Shares of Uber were up 3.7 percent Monday morning after a British judge granted it an 18-month taxi license to continue operating in London, one of its biggest markets.

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John is a well experienced hockey player and has won many championships. He intends to build a bright career in the media industry as well. He is a sports freak who loves to cover the latest news on NHL.

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