Read the full story at the A.T.L. N.E.W.S. Illinois Bureau.

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By A.T.L. N.E.W.S. Staff | October 29, 2026

NEW YORK NEWS | BUSINESS

NEW YORK — Weil, Gotshal & Manges, one of New York’s best-known corporate law firms, is preparing to wind down operations following a series of prominent partner departures and unsuccessful merger negotiations. The recommendation would bring an end to a firm whose attorneys have helped some of America’s largest companies navigate financial crises and major transactions.

The firm’s management committee recommended the move Wednesday, October 28, after reviewing its strategic alternatives. Partners are expected to vote in the coming days, according to Bloomberg Law, meaning the announcement represents a proposed process rather than a completed dissolution.

Departures and leadership uncertainty

The recommendation follows months of instability involving senior attorneys and the firm’s leadership transition. Longtime executive partner Barry Wolf was preparing to relinquish the top position, but his designated successor, Ramona Nee, decided against taking the role, Bloomberg Law reported.

Among the most consequential departures was corporate department leader Michael Aiello’s announced move to Cravath, Swaine & Moore. Weil also explored a combination with Willkie Farr & Gallagher, but those discussions failed to produce a merger that could stabilize the partnership.

The unraveling illustrates the pressure facing established firms as competitors recruit leading attorneys with increasingly lucrative compensation offers. The Wall Street Journal reported that the competition includes packages exceeding $20 million for some top lawyers, raising the stakes for firms trying to retain their biggest business generators.

A history tied to corporate America

Founded in 1931, Weil developed an international reputation through work involving bankruptcy, litigation and corporate acquisitions. Its attorneys advised on the bankruptcies of Lehman Brothers, Enron and General Motors, placing the firm at the center of defining moments in American business history.

Its work also extended to major technology and telecommunications deals, including Microsoft’s acquisition of Activision Blizzard and AT&T’s purchase of DirecTV. That record makes the planned closure particularly striking: a firm associated with helping corporations survive upheaval is now preparing to end its own operations.

Employees face an uncertain transition

The firm has approximately 1,200 lawyers, and the full consequences for its workforce remain unsettled. Bloomberg Law reported that Weil generated nearly $2.1 billion in revenue last year, underscoring how quickly departures can threaten even a large legal partnership.

According to Reuters, associates and staff were told they would receive another 90 days of pay and year-end bonuses. Reuters also reported that AlixPartners is advising on a wind-down intended to proceed outside bankruptcy. Weil says it will continue serving clients during the coming months while supporting its colleagues through the transition.

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Read the full story on A.T.L. N.E.W.S. Georgia : Mother and 2-Year-Old Daughter Found Dead Near Cobb County Church; Investigation Continues

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By Miles Edwards | A.T.L. N.E.W.S.
October 28, 2026

Wendy’s has received a proposal to go private in a deal valuing its equity at approximately $1.4 billion, opening another chapter in the burger chain’s history of mergers, ownership changes and turnaround efforts.

A group led by Nelson Peltz’s Trian Fund Management offered $7.35 per share in cash, roughly 20% above Wendy’s closing stock price Tuesday. The proposal was disclosed Wednesday in a regulatory filing and remains nonbinding.

Trian’s partners include restaurant operator Flynn Group and investment firms BlueFive Capital and Sixth Street Partners. Trian and related parties already hold approximately 16.3% of Wendy’s shares. Flynn operates more than 340 Wendy’s restaurants and is the brand’s master franchisee in Australia and New Zealand, according to Reuters.

The offer comes as Wendy’s works to reverse weakening sales and improve the economics of its restaurants. It also recalls an earlier corporate restructuring that paired Wendy’s with Arby’s, shifted public-company functions to Atlanta and unraveled less than three years later.

A corporate marriage that did not last

In September 2008, Wendy’s completed an all-stock merger with Triarc Companies, the parent of Arby’s. The transaction created Wendy’s/Arby’s Group, with principal executive offices in Atlanta.

The restaurant brands maintained separate headquarters: Wendy’s in Dublin, Ohio, and Arby’s in Atlanta. A consolidated Atlanta support center oversaw public-company responsibilities and shared services.

The merger initially promised a larger Georgia corporate presence. In November 2008, the company announced plans to invest as much as $3.5 million in expanding its Atlanta support center, lease another 50,000 square feet and relocate at least 120 positions from Ohio.

But the two-brand arrangement proved short-lived. In July 2011, Wendy’s/Arby’s Group completed the sale of Arby’s to a buyer formed by Atlanta-based Roark Capital Group. The announced terms included approximately $130 million in cash and a retained 18.5% interest in the Arby’s business. The remaining public company changed its name to The Wendy’s Company.

Wendy’s then announced that all company functions would return to Dublin. The merger itself had been completed; what ended was the strategy of operating Wendy’s and Arby’s under the same corporate parent.

Sales pressure drives another turning point

Today’s takeover proposal arrives as Wendy’s confronts another difficult operating environment.

In the second quarter of 2026, U.S. same-restaurant sales fell 7%, while global systemwide sales declined 6.5%. Quarterly net income dropped to $32.6 million from $55.1 million a year earlier.

In August, the company withdrew its full-year financial outlook and reduced its quarterly dividend to seven cents per share, preserving flexibility to support its turnaround.

Chief Executive Bob Wright identified menu quality and value, marketing, operations, digital engagement and restaurant investment as priorities.

“Our traffic, our value proposition and franchisee economics are not meeting our expectations,” Wright said in the second-quarter earnings announcement.

Trian and its partners contend that private ownership would provide the time and capital needed to rebuild the business. Their proposal points to approaching debt maturities and substantial investment needs. The group also cites pressure on U.S. consumers, commodity inflation and intensifying competition in the fast-food burger market.

Under the proposed structure, the buyers would combine equity financing with a rollover of existing Trian-related shareholdings. They say the transaction would require no new debt and anticipate keeping Wendy’s existing securitization financing in place. Financing arrangements remain under negotiation.

An offer, with negotiations still ahead

Investors initially welcomed the proposal. Wendy’s shares rose approximately 15% at Wednesday’s opening bell, according to The Associated Press. Wendy’s declined to comment to AP.

Peltz previously explored a potential Wendy’s takeover in 2022. The latest effort puts a specific cash price behind his renewed interest in the chain.

The bidders expect a special committee of independent, disinterested directors to evaluate the proposal and make a recommendation to the board. A transaction still requires definitive agreements, and the group can change or withdraw its offer.

For Wendy’s, the central question is whether another change in ownership can support a lasting recovery. Its earlier combination with Arby’s ended in a separation. This time, the prospective buyers are betting that taking Wendy’s private will give the brand room to rebuild.

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Read the full opinion piece : Judge Penny Can Hang Up on Trump, but Caller ID Might Save Her the Trouble

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GEORGIA | BUSINESS & ECONOMIC DEVELOPMENT

German luxury automaker Audi has announced plans to invest approximately $4 billion in its first U.S. manufacturing facility, selecting Peach County in Middle Georgia for a project expected to create 4,500 jobs. Announced October 24, the proposed manufacturing plant would produce as many as 200,000 premium vehicles annually, strengthening Georgia’s expanding automotive industry while providing Audi with a major American production base. The investment represents a significant economic development opportunity for Middle Georgia, although final corporate approvals remain part of the planning process.

Read the full story at the A.T.L. N.E.W.S. Georgia Bureau.

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By Miles J. Edwards | October 23, 2026

ATLANTA, GA — A colorful basketball-themed bus is turning heads in Atlanta as the Metro by T-Mobile-sponsored Hoopbus makes its way through the city during a nationwide tour promoting basketball, youth engagement, and community unity. A.T.L. N.E.W.S. spotted the distinctive vehicle at the BeltLine Kroger on Ponce de Leon Avenue and captured original footage of its visit. The traveling initiative believes basketball can serve as a powerful tool for bringing people of different backgrounds together, encouraging teamwork, and strengthening neighborhood relationships. The tour includes several metro Atlanta appearances this weekend, with activities scheduled in Riverdale and Stone Mountain. From neighborhood courts to school campuses, Hoopbus is spreading the message that basketball can offer much more than competition—it can create lasting connections and inspire communities.

Watch our original video and read the complete story at the A.T.L. N.E.W.S. Georgia Bureau.

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By A.T.L. N.E.W.S. Staff | October 21, 2026

NATIONAL NEWS | TECHNOLOGY & CONSUMER PRIVACY

Meta Platforms, the parent company of Facebook, Instagram and WhatsApp, has been ordered to pay $25 billion in civil penalties following a landmark New Mexico court ruling connected to the Cambridge Analytica data privacy scandal. The decision represents one of the largest financial judgments against a technology company in American history and marks a major victory for state regulators seeking greater accountability from social media corporations.

New Mexico First Judicial District Judge Francis Mathew issued the ruling Wednesday, October 21, after a jury determined that Facebook repeatedly violated the state’s consumer protection laws by misleading users about how their personal information was collected, shared and protected. The case also examined statements the company made regarding misinformation and hate speech on its platform.

The ruling stems from the Cambridge Analytica controversy, which exposed how personal information belonging to millions of Facebook users was obtained without their informed consent and used for political targeting during the 2016 presidential election.

Nearly 44 Million Violations of Consumer Protection Laws

The legal battle reached a turning point on September 25, when a New Mexico jury found Facebook responsible for 43,899,725 violations of the state’s Unfair Practices Act. Jurors concluded that the company had made misleading representations to consumers about its privacy policies and how it handled personal information.

Under New Mexico law, individual violations can carry civil penalties of up to $5,000. The number of violations potentially exposed Meta to penalties exceeding $219 billion. However, Judge Mathew ultimately established the financial penalty at $25 billion, still a historic amount for a state consumer protection case.

The judgment represents a significant escalation in efforts by state governments to challenge the business practices of powerful technology companies. Unlike previous settlements reached through negotiations, New Mexico pursued its claims through trial, securing both a jury verdict and a substantial court-imposed penalty.

The Cambridge Analytica Scandal That Sparked the Lawsuit

The Cambridge Analytica controversy became public in 2018, when investigations revealed that the British political consulting company had improperly obtained personal information associated with as many as 87 million Facebook users.

The data was collected through a third-party personality-testing application that accessed information from participating users and, through Facebook’s permissions system at the time, information associated with some of their friends. Many affected individuals had never directly authorized Cambridge Analytica to obtain their data.

Cambridge Analytica worked with Donald Trump’s 2016 presidential campaign, raising concerns about how personal information gathered through social media could be used to build political profiles and influence voters. The revelations triggered investigations, congressional hearings and broader debate over whether Facebook had adequately protected its users.

The scandal also damaged public confidence in Facebook’s assurances that users maintained meaningful control over their personal information. While the company subsequently announced privacy changes, regulators continued examining whether its earlier statements to consumers had been deceptive.

New Mexico Refuses to Settle

Rather than resolve its claims through the broader settlements pursued elsewhere, New Mexico continued its legal challenge against Facebook.

Attorney General Raúl Torrez’s office argued that the company’s conduct violated state consumer protection requirements and that its public statements about data privacy, misinformation and hate speech did not accurately reflect the way Facebook operated.

The case tested whether a state could hold a major social media company financially accountable for statements made to millions of users, even when those statements were part of the company’s nationwide operations.

New Mexico’s decision to pursue the case independently ultimately produced a penalty exceeding Facebook’s earlier federal privacy fine by five times.

Meta Plans to Appeal the Judgment

Meta disputes the findings and is expected to challenge the $25 billion ruling through the appeals process. The company maintains that it did not mislead users about its privacy practices and argues that the state failed to establish the individual harm necessary to justify such a substantial financial penalty.

Meta has also challenged the size of the award, describing it as excessive and unconstitutional. An appeal could delay collection of the money and potentially alter the final judgment. Therefore, Wednesday’s ruling does not mean the state has already received the $25 billion.

Despite the size of the penalty, Meta remains one of the world’s most valuable technology companies, with a market valuation approaching $2 trillion. Nevertheless, the ruling presents a serious legal challenge that could influence other efforts to hold social media platforms accountable for consumer privacy practices.

New Mexico’s Growing Legal Challenges Against Meta

The latest judgment follows another major New Mexico legal victory against the company earlier this year, although the two cases involve different allegations.

In August, a New Mexico court imposed financial obligations totaling $942 million against Meta in litigation concerning the safety of children using Facebook and Instagram. That ruling also required changes to the company’s youth protections, including age-verification measures, safeguards against exploitation and restrictions on certain features affecting minors.

Together, the cases illustrate New Mexico’s increasingly aggressive approach to regulating social media companies through its courts and consumer protection laws.

A Major Test of Big Tech Accountability

The $25 billion judgment raises broader questions about corporate responsibility in an era when social media platforms collect enormous amounts of personal information and exercise significant influence over digital communication.

For consumers, the Cambridge Analytica controversy demonstrated how data shared with one application could potentially reach organizations and political interests far beyond its original intended audience. For regulators, the New Mexico judgment illustrates the financial consequences companies may face when representations about data protection are found to violate consumer laws.

The ruling may also encourage closer scrutiny of how technology companies explain their privacy practices, obtain meaningful user consent and disclose the ways information is shared with outside organizations.

Although Meta’s anticipated appeal means the final outcome remains uncertain, the New Mexico decision establishes an important moment in the continuing debate over the responsibilities of technology companies and the rights of the people who use their services.

Nearly a decade after the 2016 presidential election placed Cambridge Analytica at the center of an international privacy controversy, its legal consequences are continuing to unfold.

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By A.T.L. N.E.W.S. Staff | October 16, 2026

NATIONAL NEWS | AUTOMOTIVE TECHNOLOGY

Tesla CEO Elon Musk is once again challenging conventional automotive engineering with the unveiling of a redesigned Roadster featuring technology intended to send the electric sports car briefly into the air. The demonstration has generated excitement over the potential of SpaceX-inspired propulsion systems, but questions remain about safety, regulatory approval and whether such technology could become practical for everyday motorists. As Tesla looks toward the future of high-performance transportation, the Roadster represents an ambitious attempt to redefine what an automobile can do. Read the full story at Automobiles Of Today for a closer look at the technology, performance claims and future production plans.

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By A.T.L. N.E.W.S. Staff | October 15, 2026

NATIONAL NEWS | BUSINESS & ENTERTAINMENT

Netflix is cutting nearly 1,000 jobs worldwide as the streaming giant restructures operations amid slowing growth and intensifying competition. Headquartered in Los Gatos, California, the company is reducing approximately 6% of its global workforce despite reporting billions in profits. The layoffs highlight growing uncertainty across the entertainment industry as streaming companies balance profitability, changing viewing habits and rising competition from digital platforms.

Read the full story on A.T.L. N.E.W.S. California

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