The Wall Street Journal

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Jersey Mike's Subs doesn’t bear his name, but it is Peter Cancro’s life’s work. As a Jersey Shore teen, he started working at the local Mike’s Subs in 1971 while at Point Pleasant Beach High School. When the shop’s owners put the business up for sale in 1975, Cancro’s mother posed a surprising question to her son: Why don’t you buy it? He did. At 17, he scraped together $125,000 through a loan secured by his youth football coach and area banker, Rod Smith, to help buy Mike’s Subs. Then, he got to work. He considered himself a fast meat slicer—and learner. Jersey Shore visitors flocked to the shop, and Cancro recalled working 100-hour weeks. Now, Cancro has sold the company to private-equity firm Blackstone in an $8 billion deal, most of which he stands to pocket as the sole owner. Cancro, 67, will remain the company’s chief executive and retain a roughly 10% stake. ?? Read more from Heather Haddon and Lauren Thomas: https://lnkd.in/ez76VmK4?

The IRS’s beefed-up enforcement fund—initially intended to last about a decade—could run dry in 2025 after budget cuts and a quirk in congressional funding that Biden administration officials are hoping to address before they leave office.

Kohl’s sales decline for the latest quarter creates a challenge for its incoming CEO.

Dillon Brooks has spent his career sparring with the NBA’s best players. With the Houston Rockets, he’s also leading one of the league’s most fearsome defenses.

From "I'm not going to change a thing" to ideas on playing nice across the political aisle, some of the nation's top podcasters weigh in on the media, politics and more.

People on Medicare can face vastly different prices for the same medicine, because drug plans farm out negotiations to middlemen.

Bitcoin owners are cashing in, and the IRS is paying close attention.

AI chatbots using ChatGPT are now taking fast-food drive-through orders all across the country. WSJ’s Joanna Stern put the tech through a series of tests. ?? https://on.wsj.com/3CPuYXB

Subway CEO John Chidsey is retiring at the end of the year. The sandwich chain named current executive Carrie Walsh interim CEO as it conducts a search for a permanent successor.