Borders to divest calendar kiosk business
Ann Arbor, Mich. — Borders Group said Monday that it is selling its kiosk business Day by Day Calendar Co. for an undisclosed sum.
The sale involves 420 kiosk retail outlets, which will be purchased by Calendar Holdings LLC, based in Texas.
According to the Detroit News, the sale could provide Borders with cash while the company works with creditors to restructure its debt.
Warner Bros. to light up Toy Fair with ‘Green Lantern’
BURBANK, Calif. — Warner Bros. Consumer Products announced that it is teaming up with a leading group of global licensees at Toy Fair in support of the Summer 2011 blockbuster film, Green Lantern, highlighted by DC Entertainment’s master licensee, Mattel. The June 17 release of Green Lantern from Warner Bros. Pictures, marks the live-action theatrical debut for the legendary comic super hero, the company reported.
"Green Lantern is among the greatest super hero characters in popular culture, and we are proud to unveil a merchandise program befitting this summer’s highly anticipated film as well as the perennial comic book franchise,” said Karen McTier, EVP domestic licensing and worldwide marketing for Warner Bros. Consumer Products. “Led by an incredible toy line from Mattel, fans of all ages around the world will be able to capture the excitement of Green Lantern."
Along with the release of the Green Lanternfilm, global licensee Mattel will debut a toy line, including the Green Lantern Ring Blast Jet Figure & Vehicle, the Green Lantern Battle Shifters Figures, and the Green Lantern Movie Masters Figures, as well as engaging role-play items including the Green Lantern Colossal Cannon Blaster.
NRF welcomes focus on jobs in state of the union address
WASHINGTON –The National Retail Federation announced that it welcomed the focus on job creation and the economy expected in President Obama’s State of the Union Address.
“We believe the nation’s economic recovery is real and sustainable, but it needs to be protected and supported through the adoption of policies that recognize that job creation is mission-critical,” NRF president and CEO Matthew Shay said. “Every job created has a positive ripple effect throughout the economy, and the President’s promise to make jobs a No. 1 priority shows he understands that very clearly. As the industry that employs one out of every five Americans, we are confident President Obama recognizes the critical role the retail industry plays in job creation across the economy and stand ready to work with him to promote initiatives that support job growth.”
Among other proposals, Obama is expected to ask for corporate tax reform that would eliminate many current tax breaks in return for lower rates, and to seek “responsible” cuts in government spending rather than new taxes to reduce the deficit. NRF has long supported a broader corporate tax base with lower rates because it would allow businesses to make decisions based on the economic results of investment rather than tax consequences.
“The United States has one of the highest corporate tax rates in the industrialized world, harming our competitiveness around the globe and our ability to create jobs here at home,” Shay said. “Retail has one of the highest effective tax rates in the U.S., so we strongly support a simpler system with lower rates that would make it easier for our sector to grow and create more jobs.”