REAL ESTATE

Bayer Properties names VP asset management

BY Katherine Boccaccio

Birmingham, Ala. — Bayer Properties said Tuesday that Scott Laslo has joined the company as VP asset management.

Laslo more recently served as VP/general manager and VP for Forest City Enterprises. His asset management role at Bayer will focus on value creation and oversight of the company’s growing portfolio of over 10 million sq. ft.

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Quaker sports a new deal with NFL

BY CSA STAFF

CHICAGO — The winner of a contest sponsored by the Quaker Oats Co. will appear with an NFL rookie quarterback in an event sponsored by the company to promote healthy living.

Quaker, a subsidiary of PepsiCo, said 10-year-old Hunter Paulin would join the Indianapolis Colts’ Andrew Luck at the Kids Day at NFL Experience Driven by GMC, where Luck will introduce him to kids from the New Orleans area during a Quaker Oatmeal breakfast event before they run football drills. Luck and Paulin will encourage kids to eat healthy, stay active and serve as role models for healthy living.

For the contest, Quaker partnered with NFL Play 60 to encourage thousands of children to share how they are inspired by their NFL role models and how they stay active with their families and eat well. Paulin, of Washington, was selected as the "NFL Play 60 Super Kid" and recognized by NFL players in his hometown in December, and will attend Super Bowl XLVII with his family and get to run the game ball onto the field just before kickoff.

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Canadian retailers go penniless

BY CSA STAFF

TORONTO — Most retailers in Canada are ready for a phase-out of one-cent coins, a national retailing trade group said Wednesday.

The Retail Council of Canada said the majority of the country’s retail businesses were prepared for the disappearance of the penny and will follow the government’s proposals for determining prices.

The Canadian Mint stopped producing pennies last spring and will begin phasing them out of circulation starting on Feb. 4. At that point, retailers are encouraged to round prices up and down to the nearest five cents when exact change is not available. For example, an item that costs $1.01 or $1.02 will be rounded down to $1, while an item costing $1.06 or $1.07 will be rounded to $1.05; an item costing $1.03 to $1.04 will be rounded to $1.05, while an item costing $1.08 or $1.09 will be rounded to $1.10. Rounding will not be needed when payment is made by check or electronically.

"On Feb. 4, most of Canada’s retailers will be ready at the cash register to handle the phase out of the penny," RCC president and CEO Diane Brisebois said. "While we have been supportive of this initiative all along, we are grateful that the government delayed implementing the changes until this point, as retailers have needed the extra time to prepare."

According to an RCC survey, 55% of retailers are prepared for the phase-out, while 74% of small retailers and 75% of large retailers will round manually at the cash register. At the same time, 63% of large businesses will change their point-of-sale systems, which could cost them more than $100,000.

"While smaller businesses will do the rounding manually and then determine the appropriate course of action, both in relation to cost and customer service, it is not a practical approach for retailers with thousands of employees," Brisebois said. "This of course represents a substantial cost for retailers to enable them to maintain standardization and meet consumers’ needs and expectations."

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