∙ SF-based Gap, Inc. announced today that it's spinning Old Navy off into its own company. The second company, which has yet to be named, will consist of the Gap, Athleta, Banana Republic, Intermix and Hill City brands. [Associated Press]

∙ Bay Area home sales hit an 11-year low last month. Also, prices have dropped. [Socketsite]

∙ You know what people hate most about those new Muni cars? The butt indents are gone, so you slide all over the seats. [SFGate]

∙ Two men and a woman have been charged in that robbery and shooting involving a KPIX news crew. Suspects Maurice Turner and Donald Jeter, both 21-year-old men from Bay Point, and Lolita Brinson, 32, of Oakland, were all arraigned yesterday. [Bay City News]

∙ The Washington Post has picked up the story of the conservative activist who was assaulted on the UC Berkeley campus, which has gone viral among conservatives on Twitter. It sounds like the assault suspect, however, is not a student. [WaPo]

∙ Uber and Lyft are planning to give out IPO shares to their drivers. Drivers who have logged a certain number of rides will be eligible for cash bonuses which they can choose to use to purchase stock at the IPO price. [SF Business Times]

Meanwhile both Uber and Lyft are offering all kinds of discounts ahead of planned IPOs. [SF Business Times]

Duc Loi’s Pantry has closed in the Bayview two years after getting a city grant to fill the former Fresh & Easy space. The opening was celebrated by then Mayor Ed Lee. [The Frisc]

SF-based clothing retailer Charlotte Russe is shutting down its SF headquarters and laying off 160 people. [SF Business Times]

Dozens of teachers from San Francisco and other Bay Area cities called in sick and joined picket lines in Oakland today. [SFGate]

Friday marks the start of Ocean Beach bonfire season. [Examiner]

And, finally, Martha Stewart is launching a CBD-infused pet product line with Canadian cannabis outfit Canopy Growth. [CNBC]