*By Tracey Cheek* Big-name chains may dominate Black Friday ー but according to American Express, 80 percent of consumers plan to shop or dine small on Small Business Saturday this year. According to Walter Frye, Vice President of global brand content and engagement at American Express (AXP), small businesses not only are good for the larger economy, but also healthy for local communities. "Small businesses are what make our communities unique and vibrant," Frye said. "When small businesses thrive, communities thrive." "When consumers spend a dollar in their communities and small business, 67 cents of that dollar stays in that community," Frye said. According to the "2018 Small Business Saturday Consumer Insights Survey" by American Express, 91 percent of consumers think it's more important than ever to support small businesses this holiday season. For full interview [click here](https://cheddar.com/videos/the-importance-of-small-business-saturday).

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Nestlé dismisses CEO after he has relationship with a subordinate
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
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