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A female CEO for IBM?; Perkins & Marie Callender’s declares bankruptcy; VF Corp. buys Timberland; Wal-Mart's online grocery store; The Silk Road's path to prison; J.C. Penney hires Apple executive

A female CEO for IBM? For the first time, IBM may name a woman to its chief executive post. She is sales chief Virginia M. Rometty, a 53-year-old who has spent three decades at the company.The Wall Street Journal

Perkins & Marie Callender’s declares bankruptcyRestaurant owner Perkins & Marie Callender’s Inc. has filed for bankruptcy protection, blaming tough competition, the weak economy, and rising food costs. The company plans to close 65 stores and cut 2,500 jobs, about 20 percent of its workforce.Los Angeles Times

VF Corp. buys TimberlandTaking advantage of Timberland’s low stock price, VF Corp. said it would acquire the boot maker in a $2 billion deal, adding to the apparel company’s collection of brands like North Face and Nautica.The New York Times

Wal-Mart's online grocery storeWal-Mart is launching an online grocery-delivery service called Wal-Mart to Go that will sell food, health and beauty products, medicine, and other grocery items. Delivery fees are around $5, and the minimum order is $49.DailyFinance.com

The Silk Road's path to prisonThe e-commerce site Silk Road, “the Amazon.com of illegal drugs,” delivers cocaine, heroin, Ecstasy, and marijuana through the mail to a buyer’s front door. And yes, it’s illegal.NPR.org

J.C. Penney hires Apple executiveJ.C. Penney “scored a hiring coup” this week by luring a top Apple executive. Ron Johnson, 52, who had been head of the computer maker’s retail stores, is the department store’s new president and eventual CEO.FoxBusiness.com

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