Feb. 11 at 6:14 p.m.
Filed under:
Bankruptcy,
Media
By Michael Oneal
Tribune Co. said Friday that the long-awaited creditor vote in the media company’s 26-month-old bankruptcy case will allow both restructuring plans competing for a judge’s approval to move forward toward confirmation hearings scheduled for March 7.
The vote provided no surprises. Each of the two competing plans won support from the creditor alliance that proposed it and suffered rejection from the other side.
Tribune Co. owns the Chicago Tribune, Los Angeles Times and other media properties. Get the full story »
Feb. 11 at 5:38 p.m.
Filed under:
Media,
Real estate
By Reuters
So how much is Hugh Hefner’s iconic Playboy Mansion really worth?
The issue has arisen in a lawsuit accusing the 84-year-old media mogul of trying to take Playboy Enterprises Inc, the publisher known for nude centerfolds, private in a sweetheart deal at other shareholders’ expense.
In an amended complaint filed February 4 in Delaware Chancery Court, shareholders complained that an October 2010 appraisal valued the 29-room Los Angeles mansion at $54 million, 45 times higher than the $1.2 million shown on Playboy’s books. Get the full story »
Feb. 11 at 5:10 p.m.
Filed under:
Chicago executives,
Magazines,
Media
By Associated Press
The corporate debt rating for Playboy Enterprises Inc. was set Friday at “B2″, a speculative or junk rating, by Moody’s Investors Service.
The same rating was placed on $195 million worth of senior secured credit facilities. A “B3″ probability of default rating was issued.
The ratings were established in connection with the buyout of the Chicago company by a partnership headed by founder Hugh Hefner. Get the full story »
Feb. 11 at 4:49 p.m.
Filed under:
Policy,
Politics,
Retirement
By Reuters
Illinois’ lingering fiscal problems will be center stage in the U.S. municipal bond market next week as the state sells $3.7 billion of bonds and as its governor unveils a budget plan for the upcoming fiscal year. Get the full story »
Feb. 11 at 4:14 p.m.
Filed under:
Food,
Restaurants
By Reuters
A woman sued McDonald’s Corp , Friday, saying she was injured after chewing on a “large shard of glass” inside her spicy McChicken sandwich.
Vjollca Lecaj said she suffered severe and permanent oral injuries, as well as “great pain and anguish,” after biting into and chewing the glass last Aug. 5 at a McDonald’s in Oak Lawn, Illinois, near Chicago. Get the full story »
Feb. 11 at 3:26 p.m.
Filed under:
Bankruptcy,
Retail,
Updated
By Reuters
Bookseller Borders Group Inc. could file for bankruptcy as soon as Monday or Tuesday, the Wall Street Journal reported Friday, citing people familiar with the matter. Get the full story »
Feb. 11 at 2:55 p.m.
Filed under:
Cell phones,
Computers,
Updated
By Dow Jones Newswires
In a major shift, Nokia Corp. Friday said it will adopt Windows Phone as its main smartphone platform, part of a broad strategic partnership with Microsoft Corp. that will see the next two years become a period of transition for the ailing handset maker.
“Nokia and Microsoft will combine our strengths to deliver an ecosystem with unrivalled global reach and scale,” said Nokia Chief Executive Stephen Elop, a former Microsoft employee. “Nokia is at a critical juncture, where signficant change is necessary and inevitable in our journey forward,” he said. Get the full story »
Feb. 11 at 2:51 p.m.
Filed under:
Stock activity
By Associated Press
Treasury prices are paring back earlier gains after Egypt’s President Hosni Mubarak’s resignation calmed investors.
The prices of the 10-year Treasury note rose 46.9 cents per $100 invested in Friday trading. Its yield, which moves in the opposite direction, fell to 3.65 percent from 3.71 percent late Thursday. Get the full story »
Feb. 11 at 2:07 p.m.
Filed under:
Cell phones,
Magazines,
Media,
Technology
By Dow Jones Newswires
Sports Illustrated said Friday that it’s offering new digital subscription plans, including one that bundles the printed magazine with versions that are available online, on Android smart phones and tablets, as well as forthcoming devices.
Time Inc., the owner of the magazine and the publishing arm of Time Warner Inc. , has yet to reach an agreement with Apple Inc., maker of the iPad tablet and iPhone, to sell the subscriptions on iTunes, but its new offerings are part of a broader effort to create a subscription platform that allows customers to sign up once and access publications in any medium, including print. Get the full story »
Feb. 11 at 1:48 p.m.
Filed under:
Advertising/Marketing,
Beverages,
Food
By Associated Press
Diet Pepsi has introduced a new “skinny” can for Fashion Week, but some critics are giving it a big, fat “no.”
The can is a “taller, sassier” version of the traditional can that the company says was made in “celebration of beautiful, confident women.” Some say Pepsi’s approach only reinforces dangerous stereotypes about women and body image. Get the full story »
Feb. 11 at 1:41 p.m.
Filed under:
Government,
Health care,
Technology
By Dow Jones Newswires
The Food and Drug Administration on Friday approved the first three-dimensional mammography system developed by Hologic Inc. to screen for breast cancer with hopes the device will prove better than current mammography technology.
The device, the Silenia Dimensions System, augments traditional two-dimensional images produced by a mammogram with a 3-D image to be used in breast cancer screening and diagnosis. The system would provide both types of images during a scan so doctors could compare images with previous ones from prior, conventional mammograms. Get the full story »
Feb. 11 at 1:18 p.m.
Filed under:
Stock activity
The Street.com | Shares in United Stationers hit a 52-week high Friday after analyst upgrades. In early afternoon trading, shares in the office supply company were at $70, up nearly 8 percent.
Feb. 11 at 1:07 p.m.
Filed under:
Consumer news,
Recalls
By Associated Press
Nearly 2 million Summer Infant video baby monitors were recalled Friday after being linked to the strangulation deaths of two infants.
The Consumer Product Safety Commission says the electrical cords on the monitors can be dangerous for babies if placed too close to their cribs. Get the full story »
Feb. 11 at 12:55 p.m.
Filed under:
Autos,
Investigations
By Associated Press
The government is expanding its safety investigation into possible engine problems in 100,000 Volkswagen diesel cars.
The National Highway Traffic Safety Administration says it has received 160 complaints and field reports about engines stalling or losing power. The reports involve 2009 and 2010 Jettas and 2010 Golfs and Audi A3s with TDI clean diesel engines. Get the full story »
Feb. 11 at 12:45 p.m.
Filed under:
Airlines,
Airplanes,
Regulations
By Dow Jones Newswires
U.S. transportation regulators this spring plan to ban smokeless electronic cigarettes on airplanes, the Associated Press reported Friday, citing a letter from Transportation Secretary Ray LaHood. Get the full story »
