CONSUMER CATCH-UP: Bumble Bee Tuna files for bankruptcy, T-Mobile discloses data breach, and Christmas trees prices are on the rise
SAN FRANCISCO (KGO) -- Bumble Bee Foods files for bankruptcy
Bumble Bee tuna is filing for Chapter 11 bankruptcy protection.
The San Diego-based tuna brand filed in Delaware on Thursday, and announced it will be selling its assets to Taiwan-based fish supply chain company FCF Co. Ltd. for $925 million.
The company sells tuna, salmon, sardines, clam juice, and other seafoods under the brand names Bumble Bee, Brunswick, Sweet Sue, Snow's, Beach Cliff, and Wild Selections.
"Employees will get paid, our customer partners can count on us to continue delivering outstanding brands and services, and vendors will be paid in the ordinary course of business," said Bumble Bee CEO Jan Tharp.
Bumble Bee was previously involved in a price-fixing scheme that landed the company in hot water. In 2016, Walmart, Kroger, and Albertsons sued Bumble Bee along with Starkist and Chicken-of-the-Sea, accusing them of fixing prices. Bumble Bee pled guilty and agreed to pay a $25 million fine. This litigation and the settlement contributed to the company's financial woes.
RELATED: Don't eat romaine lettuce grown in Salinas, California: FDA warning
T-Mobile's prepaid customers' data hacked
Wireless carrier T-Mobile disclosed that it suffered a data breach, exposing the data of its prepaid customers.
The company said that no financial data, Social Security numbers, or passwords were compromised. Names, addresses, phone numbers, account numbers, and some other personal data were accessed by a "malicious party." T-Mobile said it "quickly corrected" the issue once it was discovered.
T-Mobile is in the process of notifying affected customers. Those whose data was compromised are encouraged to reset their PINs on their accounts.
"Our Cybersecurity team discovered and shut down malicious, unauthorized access to some information related to your T-Mobile prepaid wireless account," T-Mobile said on its website. "We promptly reported this to authorities."
Christmas tree prices on the rise due to the 2008 recession
Christmas trees are going to be a bit more expensive this year - thanks to economic conditions from a decade ago.
According to the National Christmas Tree Association and payments company Square, the average cost of a live evergreen was $78 in 2018, up from $75 in 2016 and 2017. That's a 4 percent increase - and because experts are expecting that trend to continue, it could mean trees will cost about $81 each this year.
During the 2008 recession, consumers tightened their Christmas budgets, resulting in poor tree sales. That in turn caused tree growers to plant fewer trees - and now, we're seeing the results of that smaller supply. The Christmas trees seen in lots are about 6 to 10 years old at the time they are harvested.
Take a look at more stories and videos by Michael Finney and 7 On Your Side.
