Former Kmart head to settle SEC case for $5.5 million
Hoffman Estates, Ill. — A Detroit court on Wednesday said that Charles Conaway, the former head of Kmart Corp., has agreed to pay $5.5 million to end long-running litigation with government regulators over the retailer’s finances nearly 10 years ago.
The deal would stop Conaway’s appeal of a court-ordered financial penalty for misleading investors before Kmart’s bankruptcy filing in 2002.
The appeals court has agreed to send the case back to federal court in Detroit to handle the settlement.
Conaway had been ordered to pay more than $10 million after a jury last year found him liable. The Securities and Exchange Commission had accused Conaway of failing to tell investors that Kmart was delaying payments to suppliers to save cash in 2001.
Holiday food event returns to Sam’s Club
BENTONVILLE, Ark. Sam’s Club announced its eighth annual Holiday Taste of Sam’s Club, a nationwide event that offers Sam’s Club members and guests the opportunity to sample a wide-variety of gourmet foods, preview cooking demonstrations and take part in holiday decoration workshops.
The event will take place from 11 a.m. to 6 p.m. on Nov. 19, 20 and 21 at more than 600 Sam’s Club locations across the country. According to the company, the event will feature nearly 50 menu items to sample including USDA choice beef, premium side dishes and desserts.
“The Holiday Taste of Sam’s Club event is a great way to kick-off the holiday season to try delicious favorites and new recipes from Sam’s Club, while taking part in live cooking and decorating demonstrations,” said Shawn Baldwin, SVP fresh, freezer and cooler at Sam’s Club. “The tastings will offer something for everyone, from gourmet appetizers and entrees to fresh fruits, vegetables and locally prepared desserts.”
GameStop to offer exclusive edition of Conduit 2
GRAPEVINE, Texas GameStop, SEGA of America Inc. and High Voltage Software Inc. today announced details of the exclusive GameStop Limited Edition of Conduit 2, the epic science fiction shooter exclusively for the Wii system from Nintendo. The Conduit 2 Limited Edition features the 44-page “The Art of the Game” Conduit 2 art book and two unlockable items: a new armor skin and an enhanced ASE search device. Conduit 2 is set to be released in February 2011 in North America.
The Conduit 2 Limited Edition package features:
* 44-page art book featuring a rich selection of concept art and design development insights into Conduit 2’s science fiction world, weapons, and enemies. * The “Eye of Ra” device is an enhanced in-game “All Seeing Eye” (A.S.E.) device that captures Conduit 2’s hidden secrets in twice the speed. * The “Gold Destroyer Armor” multiplayer skin based on the lead character’s primary armor.