Business News for WSLS 10

Oil shipments to strategic reserve to stop in July

Fri, 16 May 2008 16:35:01 EDT

The move came days after Congress passed legislation requiring President Bush to temporarily halt shipments into the reserve in hopes of lowering gasoline prices. The president is expected to sign the bill.

Reverse mortgages becoming popular

Fri, 16 May 2008 13:39:00 EDT

Also known as a home equity-conversion mortgage, a reverse mortgage lets people who are at least 62 borrow money against their homes, as long as they own the property or owe only a small balance on an existing mortgage.

AOL sheds its brand to draw specialty audiences

Fri, 16 May 2008 11:52:00 EDT

Unless you’re looking carefully, you’ll likely miss the fact that the new Asylum Web site for young men is a creation of Time Warner Inc.’s AOL. Same for WalletPop on personal finance, Spinner on indie music and StyleList on fashion.

Housing posts surprising rebound in April

Fri, 16 May 2008 10:46:00 EDT

The Commerce Department reported Friday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units. Building of single-family homes continued to weaken, however.

Finding a tasty veggie burger

Fri, 16 May 2008 08:59:00 EDT

Many people love grilling burgers. Now, more people are grabbing veggie burgers instead of beef.

GE confirms plans to exit appliance business

Fri, 16 May 2008 08:52:00 EDT

The Fairfield, Conn., industrial conglomerate said Friday the move is part of an ongoing plan to exit “slower growth and more volatile businesses.”

Recall: Shindaiwa Backpack Blowers

Thu, 15 May 2008 17:28:00 EDT

The blower’s impeller (fan) can separate from the base and break apart, causing plastic pieces to be blown out of the machine, and pose a laceration and impact hazard to consumers. The flying pieces also can cause property damage and injury to bystanders. Note: These backpack blowers were previously recalled due to a fire hazard.

Recall: Tall Red fuel cells for Paslode cordless framing nailers

Thu, 15 May 2008 17:26:00 EDT

The fuel cells used to power cordless framing nailers can leak fuel, posing a fire hazard

Recall: Tumble Tower Infant Rattles

Thu, 15 May 2008 17:24:00 EDT

The blue plastic end caps of the rattle can break, resulting in small parts, posing a choking hazard to young children

Recall: 280,000 Maple Chase carbon monoxide and smoke combo alarms

Thu, 15 May 2008 17:22:00 EDT

The recalled alarms can sound a “double chirp”/fault alarm in the presence of CO, prior to going into full alarm. Upon hearing a double chirp, the Owner’s Manual instructions recommend a consumer take the alarm out of service, which could expose consumers to hazardous levels of CO and suffer injury or death.

Recall: Squeeze Kids Girl’s Corduroy Jackets sold at TJ MAxx

Thu, 15 May 2008 17:20:00 EDT

The garments have a drawstring through the hood, which can pose a strangulation hazard to children

Shoppers feeling squeeze buy a little at a time

Thu, 15 May 2008 16:41:00 EDT

From meat to mustard, consumers are trying to control their food bills by buying smaller-size items as they grapple with soaring prices. Companies have taken note, experimenting with different measures.

AAA predicts slight drop in Memorial Day travelers

Thu, 15 May 2008 16:06:01 EDT

AAA estimates that 37.9 million Americans will travel 50 miles or more from home this holiday, a decrease of nearly one percent from a year ago.

UPS bet on Big Brown pays off in brand exposure

Thu, 15 May 2008 15:08:00 EDT

Capitalizing on the buzz around thoroughbred racing’s biggest event, UPS has inked a sponsorship deal with Kentucky Derby winner Big Brown, who was named in honor of the shipping giant known for its distinctive brown trucks and uniforms.

Babyproofing your home

Thu, 15 May 2008 08:39:00 EDT

Babies grow quickly. Here’s suggestions on how you can get moving and babyproof your home.

Ford recalling 655,000 trucks

Wed, 14 May 2008 15:44:00 EDT

Ford recalling more than 655,000 trucks over hose problem that could affect the vehicles’ braking power.

Tiny “Smart Car” receives good crash test scores

Wed, 14 May 2008 12:22:00 EDT

The 8-foot, 8-inch vehicle received the highest rating of good in front-end and side-impact testing by the Insurance Institute for Highway Safety, helping address some concerns that consumers may be more vulnerable in the tiny two-seater.

Inflation pressures ease despite food price jump

Wed, 14 May 2008 12:04:00 EDT

Inflation pressures eased a bit in April despite the biggest jump in food prices in 18 years.

Virginia and Philip Morris agree to pollution caps

Tue, 13 May 2008 17:43:00 EDT

The Chesapeake Bay Foundation says it has settled a lawsuit with Philip Morris USA and Virginia over pollution in the James River

Fewer fliers for summer, but packed planes persist

Tue, 13 May 2008 14:27:00 EDT

Airlines are reducing their carrying capacity amid slower economic growth and rising jet fuel prices, the Air Transport Association said.

Fed Chairman Bernanke says financial turmoil in markets easing

Tue, 13 May 2008 13:17:00 EDT

Turmoil in financial markets has eased somewhat, but the situation is still “far from normal,” Federal Reserve Chairman Ben Bernanke said Tuesday.

HP to buy EDS

Tue, 13 May 2008 11:49:00 EDT

Under the terms announced Tuesday, Palo Alto-based HP will pay $25 per share in cash for EDS, which pioneered the concept of running computer systems and providing other high-tech help for large companies and government agencies.

Saving on prescription medicine

Tue, 13 May 2008 07:54:01 EDT

There are a lot of options when it comes to filling your prescriptions but where you shop can make a big difference in what you pay.

In lean times, shoppers see extra fat in food bill

Mon, 12 May 2008 16:00:00 EDT

Shoppers are wondering whether higher grocery bills and restaurant tabs truly reflect the trickle down of a global rise in prices. Food retailers say consumers’ suspicions of gouging are unjustified.

Stamp prices up a penny today

Mon, 12 May 2008 08:56:00 EDT

Forever stamps also went up to 42 cents. But buyers may want to stock up anyway, looking ahead to next May when prices are expected to be adjusted again.

Dangerous gas grill

Mon, 12 May 2008 08:38:00 EDT

A test of grass grills uncovers a major safety concern.

Yale students serve as bankers for struggling entrepreneurs

Fri, 09 May 2008 16:55:00 EDT

Elmseed Enterprise Program provides small loans and intensive technical support primarily to low income and other disadvantaged entrepreneurs.

Will your rebate check be direct deposited?

Fri, 09 May 2008 16:09:00 EDT

10 On Your Side answers your rebate questions, this time focusing on how you’ll get your check.

Consumers give stores some relief but still spend cautiously

Thu, 08 May 2008 10:35:00 EDT

The sales reports issued Thursday were better than expected, but still pointed to a consumer contending with rising gas prices, sagging home values and worries about jobs.

New way to crush a cigarette

Wed, 07 May 2008 13:20:01 EDT

R.J. Reynolds’ new Camel Crush includes a menthol capsule, but smoking foes say it lures children

What is Pandora radio?

Wed, 07 May 2008 06:12:00 EDT

Tailor your own playlist of music on Pandora

As food costs soar, restaurants swap ingredients to get by

Tue, 06 May 2008 17:31:00 EDT

The changes come as record oil prices and surging global demand for staples like rice, fish, poultry and wheat have pushed wholesale food prices up almost 8 percent in the last year

Scam targets mystery shoppers

Tue, 06 May 2008 12:14:00 EDT

The mystery shoppers association already knows about the scam. It has issued a consumer alert saying to watch out if you’re asked to wire money back to a specific address, usually outside the country.

Summer job outlook: Could be tough for teens

Tue, 06 May 2008 10:27:00 EDT

The causes of the slump in teen hiring are many — a slowing economy, retirees coming back into the market, college students taking hourly jobs as they search for career-path employment.

Late cold snap puts a chill on California vineyards

Tue, 06 May 2008 09:16:00 EDT

The damage still is being assessed — it could be June before growers know the full extent — but most expect smaller-than-average harvests this year.

Music marketing in throes of digital transformation

Mon, 05 May 2008 16:06:00 EDT

Radiohead took a step back from its great leap forward, eventually releasing “In Rainbows” as a conventional CD and making it available through commercial download sites such as iTunes and Amazon.

AAA 2008 vacation costs survey

Mon, 05 May 2008 11:37:00 EDT

According to the 2008 edition of AAA’s Annual Vacation Costs Survey the recommended travel budget for two adults traveling together in North America is $244 per day for lodging and meals. Those vacationing in Virginia can expect to pay an average of $222 per day, including approximately $149 for lodgings and $73 for meals.

Coupons delivered to cell phones

Fri, 02 May 2008 11:40:00 EDT

There’s a new way to instantly save lots of money at popular stores and restaurants all over the country, with just a phone call.

84,000 Children’s storage bins sold at Lowe’s recalled

Thu, 01 May 2008 16:49:00 EDT

Surface paint on the storage bins could contain excessive levels of lead, violating the federal lead paint standard.

Home Depot to close 15 stores, none in Virginia

Thu, 01 May 2008 15:52:00 EDT

The closings—many of which are concentrated in the Midwest—mark the first time the home improvement retailer has ever closed a flagship store for performance reasons.

How to wisely spend your rebate check

Thu, 01 May 2008 09:13:00 EDT

The federal government hopes you’ll soon be flooding the floors of malls, aisles of grocery stores, and doors of home improvement stores spending your tax rebate.

Foreclosures increase in Virginia

Wed, 30 Apr 2008 18:30:00 EDT

Virginia had the 15th highest foreclosure rate among the 50 states and the District of Columbia in the first quarter, according to figures released yesterday by RealtyTrac, an online resource of foreclosed properties.

Fed cuts funds rate .25%

Wed, 30 Apr 2008 14:36:00 EDT

The Fed move was in line with expectations. Wall Street believes this could well wrap up the Fed’s rate cuts unless the economy threatens to fall into a worse slump than currently expected. The Fed said it stood ready to “act as needed to promote sustainable economic growth and stability.” That phrase was seen as a signal that the Fed is as worried about weak growth as it is about the risk of higher inflation.

Virginia phone companies want to charge higher penalty fees

Wed, 30 Apr 2008 11:24:00 EDT

The state limits on the fees were last changed more than 30 years ago, according to a filing by the Virginia Telecommunications Industry Association with the State Corporation Commission.

Widget helps parents find game ratings

Wed, 30 Apr 2008 05:22:00 EDT

The rating board has just released a free “Rating Search Widget” that provides an easy way for parents to get the rating—and the reason behind the rating.

DEWALT recalls 13,000 table saws

Tue, 29 Apr 2008 16:32:00 EDT

The pivot bracket on the saw can separate which can misalign the blade and the fence and cause kick back. This poses a laceration hazard to consumers

Nintendo recalls 71,000 lapel pins for lead

Tue, 29 Apr 2008 16:30:00 EDT

The metal lapel pin contains high levels of lead. Lead is toxic if ingested by young children and can cause adverse health effects

Rio brands recalls High-Boy beach chairs

Tue, 29 Apr 2008 16:29:00 EDT

The rear leg of the chair can break, posing a fall hazard to consumers

Compulsive debtors: Get yourself some help

Mon, 28 Apr 2008 13:22:00 EDT

Experts urge those that buy just for the emotional high to seek counseling.

A “sweet deal”: Candy company Mars Inc. looks to buy Wrigley

Mon, 28 Apr 2008 12:20:00 EDT

The merger of Mars, maker of M&Ms, Snickers bars and other candy, and Wrigley, which produces such gums as Extra, Eclipse, and Orbit, could force other snack companies to merge to compete with the new confectionary giant.

Lifetime Brands recalls plates and bowl due to lead and cadmium

Mon, 28 Apr 2008 11:29:00 EDT

Lifetime Brands, Inc. says certain Pfaltzgraff® Villa della Luna® pattern and Nautica J Class® pattern stoneware dinnerware products may exceed the Food and Drug Administration’s (“FDA”) guidance levels for lead and/or cadmium.

CPSC, Kyodo America recall robotic lawn mowers

Fri, 25 Apr 2008 17:17:00 EDT

The cutting blades continue to rotate when the mower is lifted from the ground and the spacing on the side of the lawn mower could allow room for a consumer’s foot to go beyond the shield and be struck by the blade. Both instances pose a serious laceration hazard to consumers.

People’s decisions to cut back add up to weaker economy

Fri, 25 Apr 2008 13:19:00 EDT

Each person’s decision to give up something and trim spending can collectively carry crucial implications for the economy.

Google Book Search

Fri, 25 Apr 2008 12:53:00 EDT

Scanning world’s every book means turning many, many pages

Lynchburg area home sale stats mixed

Fri, 25 Apr 2008 10:50:00 EDT

In the Lynchburg area, 461 existing homes sold from January through March. That was a 25 percent drop from the first quarter of 2007, and an 18 percent drop from the last
quarter. Meanwhile, the median price in the first quarter was $147,511, 13 percent more than in the first quarter of last year.

Weak economy good for pawnshops

Fri, 25 Apr 2008 10:13:00 EDT

Consumers with less expendable income also benefit from cheaper, second-hand options and a way to get cash fast without any interest rates.

Media General shareholders elect new directors

Thu, 24 Apr 2008 18:21:00 EDT

Media General shareholders today elected three new directors nominated by Harbinger Capital Partners.

Waxcessories recalls 830,000 electric simmer pots

Thu, 24 Apr 2008 17:45:00 EDT

The simmer pots have wire connections that can become loose, posing a risk of fire and electric shock to consumers

Philip Morris profit up 29 percent

Wed, 23 Apr 2008 11:05:00 EDT

Net income advanced 29 percent to $1.87 billion, or 89 cents a share, from $1.45 billion, or 69 cents, a year earlier, the New York-based company said. Revenue climbed 18 percent to $15.6 billion. The company said full-year profit would increase faster than it previously expected.

Fabbers are real, so get your designs ready

Wed, 23 Apr 2008 11:02:00 EDT

The term 3-D printer is just another word for rapid prototyping machine, or fabrication machine, which often gets shortened to just fabber.

Working from home earns positive results

Wed, 23 Apr 2008 10:11:00 EDT

Virginia Tax Commissioner Janie Bowen oversees a teleworkforce of 616. Bowen joins a growing number of top managers nationwide who have implemented a telecommuting, or work-at-home, program.

Most U.S. airlines to increase checked baggage fees

Tue, 22 Apr 2008 16:34:00 EDT

Starting May 5th, expect to pay up for checking more than one bag on flights inside the country

SunTrust profit plummets

Tue, 22 Apr 2008 10:33:00 EDT

First-quarter profit fell 45 percent as the company set aside more money to cover bad loans to homeowners and builders.

Tough economic times? Not on Mother’s Day.

Tue, 22 Apr 2008 10:25:00 EDT

Moms who tell their kids it’s the thought that counts might just get their wish this Mother’s Day, according to survey from the National Retail Federation released this morning.

KFC allergy alert: Unlabeled double chocolate chip cakes recalled

Mon, 21 Apr 2008 10:14:01 EDT

Corporation is voluntarily recalling its Double Chocolate Chip Cakes because they contain eggs, milk, wheat, soy ingredients and possibly traces of tree nuts, and are not individually labeled with ingredient information.

Merrill Lynch plans to cut 3,000 jobs

Fri, 18 Apr 2008 11:18:00 EDT

The cuts do not affect financial advisers or investment associates at most of the branch offices, such as the one in Richmond, a spokeswoman for the brokerage said yesterday.

As prices go up, more people plant vegetables

Thu, 17 Apr 2008 15:40:00 EDT

With bread selling for close to $3 a loaf and gas well over $3 a gallon, many folks are finding vegetable gardens can save them money.

Sears offers special tax rebate check offer

Thu, 17 Apr 2008 13:13:00 EDT

In a move to help Americans stretch their dollars, the retailers will offer a 10 percent bonus to every customer who converts their government stimulus checks into gift cards at Sears or Kmart

Kroger to offer free groceries or gas for using tax rebate to buy Kroger gift card

Thu, 17 Apr 2008 11:47:00 EDT

Free groceries or gas. Two words that sound great with the rising cost of food. That’s what Kroger plans to offer, if you choose to exchange your tax rebate or refund check for a Kroger gift card.

Losing out on rising gas prices

Wed, 16 Apr 2008 18:37:00 EDT

At Goldy’s Truck Plaza, halfway between Lynchburg and Altavista on U.S. 29, it isn’t hard to see the effects of diesel prices teetering on the edge of $4 per gallon.

Centra reworks its debt as mortgage crisis snarls markets

Tue, 15 Apr 2008 17:19:00 EDT

The long-term financial structure that Centra used to cover the cost of the new East Tower at Lynchburg General Hospital was hit by aftershocks from the subprime mortgage crisis — briefly almost tripling interest rates for the local health care system.

Dissident for Media General board gets support

Tue, 15 Apr 2008 15:16:00 EDT

Proxy firm backs one nominee as company pushes its own slate

Foreclosures rise rapidly

Tue, 15 Apr 2008 14:31:00 EDT

They’re up 57 percent in U.S.; sharp boost also seen in Virginia

Protecting Plants

Mon, 14 Apr 2008 21:28:00 EDT

Bring plants in or cover them up if you hear the words frost or freeze in the forecast.

Kroger recalls Private Selection ice-cream in 12 states; But not Virginia

Mon, 14 Apr 2008 14:04:00 EDT

The ice cream was distributed to Kroger stores in Alabama, Arkansas, Georgia, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, South Carolina, Tennessee, and Texas.

Cracker Barrel allergy alert on mislabeled chocolate-covered peanuts and almonds

Thu, 10 Apr 2008 15:18:00 EDT

Cracker Barrel Old Country Store, Inc. is recalling 5-ounce bags of chocolate-covered almonds and 5-ounce bags of chocolate double-dipped peanuts because the packaging is labeled incorrectly

Michaels Stores recalls 310,000 seasonal writing pens for lead

Thu, 10 Apr 2008 14:26:00 EDT

The seasonal writing pens’ surface coating contains high levels of lead, violating the federal lead paint standard

Fake “Hillbilly” teeth recalled for lead

Thu, 10 Apr 2008 14:24:00 EDT

The gray surface paint on the teeth contains excessive levels of lead, violating the federal lead paint standard

Toy robots recalled for lead

Thu, 10 Apr 2008 14:22:00 EDT

Surface paints on the toys contain excessive levels of lead, violating the federal lead paint standard

Primo Water introduces biodegradable bottle

Thu, 10 Apr 2008 13:43:00 EDT

Primo said its new bottle is different because it is made from plastic derived from plants that is known by polylactide or PLA, and the trademark Ingeo.

Robotic mowers put to the test

Thu, 10 Apr 2008 08:28:00 EDT

When you think of how much time it takes to mow your lawn, it’s no wonder manufacturers figure we’d jump at the thought of a robotic lawnmower ― even if it costs thousands of dollars. Consumer Reports just tested two to see if robots are the next big thing in mowing.

AAA advice on Airline travel in time of turmoil

Wed, 09 Apr 2008 18:15:00 EDT

With four airlines ceasing operations since January of this year and three of those occurring within the past 7 days, AAA offers advice for airline travelers.

Fed chairman to speak in Richmond

Wed, 09 Apr 2008 16:39:00 EDT

About 235 business representatives are expected to attend the sold-out luncheon at the University of Richmond on Thursday. An overflow room for students and others also will be filled, said council President Randolph Bell, former U.S. ambassador at large.

Children’s Board Book Sets Recalled By Dalmatian Press

Tue, 08 Apr 2008 16:30:01 EDT

The cylinder on the toy concrete mixer and the tailgate on the toy dump truck can detach, posing a choking hazard to young children

Magnetic Dart Boards Recalled By Henry Gordy Int’l

Tue, 08 Apr 2008 16:28:00 EDT

Small magnets at the ends of the darts can detach. Magnets found by young children can be swallowed or aspirated. If more than one magnet is swallowed, the magnets can attract each other and cause intestinal perforations or blockages, which can be fatal.

Energy Department says gas prices could peak at $4 a gallon this spring

Tue, 08 Apr 2008 11:21:00 EDT

Retail gas prices could climb as high as $4 a gallon this summer, but prices at such lofty levels will make many Americans think twice about hitting the road this summer, the Energy Department said

Circuit City plans to reduce size of its board

Tue, 08 Apr 2008 07:11:00 EDT

Circuit City Stores Inc. wants to reduce the size of its board of directors at the chain’s annual shareholder’s meeting in June.

Malt-O-Meal recalls generic cereals for possible Salmonella risk

Mon, 07 Apr 2008 16:51:00 EDT

Malt-O-Meal is voluntarily recalling its unsweetened Puffed Rice and unsweetened Puffed Wheat Cereals produced with “Best If Used By” codes between April 8, 2008 (coded as “APR0808") and March 18, 2009 (coded as “MAR1809") because they may have the potential to be contaminated with Salmonella.

Dollar Tree recalls 300,000 plush insect toys

Mon, 07 Apr 2008 12:16:00 EDT

The recalled plush insect toys contain small parts, posing a choking hazard to small children

Finding free credit reports

Mon, 07 Apr 2008 08:21:00 EDT

There are some 13 million errors in credit reports every year, so it’s smart to get yours once a year and check for any mistakes. You’re entitled to one free credit report from each of the big credit agencies ― but you have to know where to go.

Circuit City to meet with renegade investor

Fri, 04 Apr 2008 12:05:00 EDT

Circuit City Stores Inc. has agreed to meet with renegade investor Mark J. Wattles. In a letter delivered this morning, Mikael Salovaara, lead director of the Circuit City board of directors, agreed to meet with Wattles and discuss company strategy.

Imaginarium recalls activity centers sold at Toys “R” Us

Thu, 03 Apr 2008 18:09:00 EDT

Small parts on the toys can detach, posing a choking hazard to young children

A.O. Smith recalls 1,500 gas water heaters due to fire and carbon monoxide hazards

Thu, 03 Apr 2008 18:07:00 EDT

The water heater’s flue gas temperatures can exceed safe limits and produce excessive temperatures in the venting unit, posing a fire hazard. Also, the water heater’s exhaust can leak into the surrounding room, posing a carbon monoxide hazard.

Wal-Mart recalls 61,000 “Holiday Times Candleholders”

Thu, 03 Apr 2008 18:04:00 EDT

The candle holders could tip over, posing a fire hazard. Also, the glass holder could break, posing a laceration hazard to consumers

144,000 Children’s “Main Street Drag” sunglasses recalled by StyleMark for lead

Thu, 03 Apr 2008 17:59:00 EDT

Surface paint in the orange lettering on the temples of the sunglasses contains excessive levels of lead, violating the federal lead paint standard

Cabot Recalls Composite Deck Cleaner

Wed, 02 Apr 2008 16:22:00 EDT

One of the components of the composite cleaner can react with metal foil residue on the packaging, releasing heat and chlorine gas. This poses a fire and inhalation hazard to consumers.

Raycom buys Richmond’s NBC affiliate WWBT

Wed, 02 Apr 2008 13:01:00 EDT

Raycom Media Inc., which already owns WTVR, bought WWBT. That’s generally against federal regulations, but the Federal Communications Commission agreed last week to allow the situation to stand for six months. During that time, Raycom will have to sell WTVR.

Media General, dissident weigh in on proxy battle

Wed, 02 Apr 2008 12:46:00 EDT

Investors heard from both sides yesterday in a proxy battle between Media General Inc. and a dissident shareholder over the direction of the Richmond-based media company, owner of the Richmond Times-Dispatch, and WSLS.

Master Lock Recalls “Lock and Leash” Locks

Tue, 01 Apr 2008 16:29:00 EDT

Red surface paint on the locks contains excessive levels of lead, violating the federal lead paint standard

New menu rules at restaurants

Tue, 01 Apr 2008 14:05:00 EDT

Starting April 1st, the Virginia Department of Health is requiring restaurants to add a warning about all undercooked or raw meat and eggs.