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Top 4 Business Stories of the Day

In modern business, “customer is king” is a well-accepted principle. As a result, capturing the “Voice of the Customer,” or VoC, to inform product and service offerings has become a mandate for most companies. Forrester Research confirms that within the past few years more than half of firms had established a VoC program, while another 25% were planning to establish one in the next 12 months. King Digital Entertainment, owner of the world’s most addictive video game, slapped a price range on its initial public offering Wednesday, and the bottom line was a lot lower than expected. The owner of Candy Crush Saga said it planned to sell 25.5 million shares at up to $24 each. With 315 million shares outstanding after the offering, that values the company at $7.6 billion. King brought in $1.9 billion of revenue and $568 million of profits last year. That’s $1.80 per share in profit, or a trailing price-to-earnings ratio of a whopping 13.3. The Pentagon's Missile Defense Agency said it had added $750 million to Northrop Grumman's contract to manage the information technology of the U.S. ballistic missile defense system. The Pentagon said the new contract brought the potential value of the contract to $3.25 billion from $2.5 billion. As if Bridgegate wasn’t enough, New Jersey Governor Chris Christie’s administration just made one move that's angered both the right and the left: Essentially banning beloved electric-car maker Tesla from the Garden state. New Jersey motor vehicle officials approved a rule Tuesday that would require all car companies to sell their vehicles through franchised dealers instead of directly to customers. The move essentially prevents Tesla from selling cars in New Jersey because the electric vehicle maker owns its own stores.

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