Business briefs


POSTED: Thursday, October 15, 2009

Mattel lead deal could top $50M

SAN DIEGO » Mattel Inc. and its Fisher-Price subsidiary have agreed to settle a consumer lawsuit for what could total more than $50 million in the 2007 recall of millions of toys made in China that were found to contain high levels of lead.

The proposed class-action settlement, filed in Los Angeles Tuesday, will resolve 22 suits filed against Mattel, Fisher-Price and major retailers on behalf of millions of families who purchased or received the defective toys as gifts before they were later recalled or withdrawn from market.

In the settlement, Mattel and Fisher-Price agreed to provide refunds or other reimbursement to those who bought the Chinese-made toys. Mattel will provide toy buyers who are part of the class-action lawsuit either 50 percent of the total amount of vouchers Mattel has sent out following the recalls or $10, whichever is greater.

For more information, go to http://www.MattelSettlement.com or www.CSGRR.com/Mattel.


Times Co. calls off Boston Globe sale

BOSTON » The New York Times Co. said yesterday it won't sell the Boston Globe newspaper after all, following “;careful consideration and analysis.”;

In a memo sent to Globe employees yesterday, Times Co. Chairman Arthur Sulzberger Jr. and Chief Executive Officer Janet Robinson acknowledged the “;long and painful process”; that led to the decision to keep the paper. The memo alluded to a series of steps taken by the newspaper, including a restructuring of labor contracts that is projected to save $20 million on an annual basis, consolidation of printing facilities and price increases for both newsstand and home delivery.


Nurses, Hawaii hospital OK contract

The Hawaii Nurses' Association, the largest union representing Hawaii's private-sector registered nurses, and North Hawaii Community Hospital have agreed to their first collectively bargained contract for registered nurses at the Waimea facility.

“;Negotiations were strenuous and lengthy, but produced a first-time contract with our registered nurses that is fair to them and to the hospital as well,”; said NHCH Chief Executive John White.

The three-year agreement covers 85 nurses employed by NHCH and will be effective from Oct. 1, 2009, to Sept. 30, 2012.


State puts off $623.5M bond sale

The state postponed its plans to sell $623.5 million in general obligation bonds to refinance debt after tax-exempt borrowing costs rose to the highest in more than a month, according to data compiled by Bloomberg News.

Hawaii may move forward with the sale of $32 million in taxable Qualified School Construction Bonds, which provide a low- or no-interest loan to the state and compensate investors with federal tax credits, Bloomberg data show.


On the Move

» RevoluSun has hired Alan Agena as project developer. He has more than 10 years of sales and design experience and was a project consultant at Sunetric.

» The McRoberts/ Strada team in Morgan Stanley Smith Barney's Honolulu office has been named to Research Magazine's listing of Top-Ranked Advisor Teams in America. The teams are screened for such criteria as overall size and success of practices and the quality of service provided to clients.