Dec. 15, 2010 at 3:22 p.m.
Filed under:
Consumer electronics,
Investing
By Dow Jones Newswires
Standard & Poor’s Ratings Services said it would lift its ratings on Motorola Inc. back to investment-grade territory early next year when the telecom-equipment maker splits into two.
Last month, Motorola set Jan. 4 as the date it will separate into two companies. The current company will change its name to Motorola Solutions and hold onto the business mobile and networks divisions, which sells such products as police radios and barcode scanners. It will spin off a new company consisting of its consumer-focused handset business. Get the full story »
Dec. 15, 2010 at 2:24 p.m.
Filed under:
Autos,
Government
By Associated Press
The government has received another $2.1 billion in repayments from General Motors Co. Get the full story »
Dec. 15, 2010 at 1:52 p.m.
Filed under:
Litigation,
Media,
TV
By Bruce Japsen
DirecTV Group Inc. has agreed to pay $13.3 million in civil penalties and costs, including $185,000 to the state of Illinois, to settle allegations that the satellite-TV service provider used misleading sales and marketing practices. Get the full story »
By Kathy Bergen
McCormick Place officials are abandoning a two-year effort to acquire a neighboring block for potential hotel development, officials said today.
The Metropolitan Pier and Exposition Authority will drop legal proceedings aimed at acquiring several adjoining parcels through condemnation proceedings, said Renee Benjamin, the authority’s general counsel. Get the full story »
Dec. 15, 2010 at 1:38 p.m.
Filed under:
Airlines,
Work culture
By Julie Johnsson
United Airlines workers with perfect attendance for six months may be eligible to win a free car under a new employee perk that takes effect Jan. 1.
The morale-boosting effort is one of the first public campaigns by parent United Continental Holdings Inc. to stamp Continental Airlines’ culture on its larger merger partner. During the past decade, Continental has given away more than 180 vehicles to its employees. Get the full story »
Dec. 15, 2010 at 1:28 p.m.
Filed under:
Commercial real estate,
Real estate,
Retail
By Sandra M. Jones
Sears Holdings Corp. signed a deal with retailer Work ‘N Gear to operate uniforms shops inside Sears and Kmart stores.
The shops, called Scrubology, are range from 600 to 1,500 square feet and sell uniforms for healthcare professionals including doctors, nurses, veterinarians and lab technicians. Get the full story »
Dec. 15, 2010 at 1:22 p.m.
Filed under:
Airlines,
Airplanes
By Associated Press
Southwest Airlines will order 20 new, larger versions of the Boeing 737 that could pave the way for the all-domestic airline to offer international flights.
CEO Gary Kelly said Wednesday that Southwest will change an existing order with Boeing to get new 737-800 jets beginning in early 2012. The 737-800s have 38 more seats than the largest planes in Southwest’s current fleet. Get the full story »
Dec. 15, 2010 at 1:16 p.m.
Filed under:
Government,
Taxes
By Associated Press
The Internal Revenue Service is making it riskier to cheat on your taxes.
The tax agency increased the number of returns it audited by nearly 11 percent this year. Statistics released Wednesday show that wealthy taxpayers were most likely to be targeted. Get the full story »
Dec. 15, 2010 at 1:12 p.m.
Filed under:
Energy,
Environment,
Green,
Litigation
By Reuters
The Obama administration sued BP Plc and four other companies over the Gulf of Mexico oil spill Wednesday, charging violations of U.S. environmental laws, in the opening salvo in what will likely be a lengthy legal battle.
The lawsuit seeks damages from BP, Transocean Ltd, Anadarko Petroleum Corp, Mitsui & Co Ltd unit MOEX and BP’s insurer Lloyds of London for their roles in the worst offshore oil spill disaster in U.S. history. Get the full story »
Dec. 15, 2010 at 11:55 a.m.
Filed under:
Advertising/Marketing,
Food,
Litigation,
Restaurants
By Emily Bryson York
A 3-year-old eats fries from his Happy Meal in a California McDonald's. (AP /Eric Risberg)
After months of threats, the Center for Science in the Public Interest has sued Oak Brook-based McDonald’s, alleging that its practice of giving toys with children’s meals is deceptive advertising.
The organization garnered a slew of media attention last summer when it threatened to sue McDonald’s, claiming that the toys constitute a method of circumventing parental control and teaching children unhealthy eating from a early age. Get the full story »
Dec. 15, 2010 at 11:52 a.m.
Filed under:
Banking
By Associated Press
Chase customers who don’t earn a lot or rely on paltry government benefits may soon have to pay a monthly fee on their checking accounts.
The bank started notifying customers this month that direct deposits will have to be at least $500 to qualify for a waiver on the $6 monthly fee. Get the full story »
By Associated Press
The Food and Drug Administration is cracking down on manufacturers of certain weight-loss, body-building and sexual-enhancement supplements that contain potentially dangerous ingredients.
The FDA said Wednesday that some manufacturers are deceptively labeling products to hide that they contain ingredients known to cause adverse health effects. Other supplements contain ingredients that should be available only by prescription. Get the full story »
Dec. 15, 2010 at 11:40 a.m.
Filed under:
Entertainment,
Litigation,
Media,
Music
Bloomberg News | Psychedelic rock band Iron Butterfly has sued Warner Music Group to recover royalties of at least $236,549 from their 1960s anthem “In-A-Gadda-Da-Vida.”
Dec. 15, 2010 at 11:24 a.m.
Filed under:
Autos,
Recalls
By Associated Press
Chrysler and Volkswagen announced large recalls Wednesday to address potential accidental air-bag deployments and possible fuel leaks.
Chrysler Group LLC said it was recalling more than 367,000 minivans to address potential accidental air-bag deployments in 2008 Chrysler Town and Countrys and Dodge Grand Caravans. Get the full story »
Dec. 15, 2010 at 11:11 a.m.
Filed under:
Bankruptcy,
Media,
Newspapers,
Radio,
TV
By Reuters
A group of lenders to bankrupt Tribune Co. withdrew its reorganization plan for the media company, leaving creditors with three other options when they begin voting on how to end the 2-year-old Chapter 11 case.
Pursuing the plan “was not the best focus of our resources,” said Evan Flaschen, an attorney representing the group, made up of 14 hedge funds, including GreyWolf Capital Management and billionaire George Soros’ Soros Fund Management. Get the full story »
