Photo by Joe Raedle/Getty Images

Pizza chain Papa John's has adopted a so-called "poison pill," to help deter founder John Schnatter — who recently resigned as chairman after using racial slurs during a conference call — from acquiring a control position.

Big picture: Schnatter and his affiliates hold around a 30% stake in Papa John's, and the new structure would effectively dilute those shares were they to increase their position. It also would apply if another entity acquired at least a 15% stake, and expires in one year.

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GM dives full-throttle into electric

GMC Hummer EV. Photo courtesy of General Motors

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Driving the news: General Motors unveiled the vehicle — a reborn version of the deceased mega-guzzler — with a highly produced rollout Tuesday night that included a World Series spot. The company also began taking reservations.

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Illustration: Aïda Amer/Axios

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