FINANCE

Staples to resume $1 billion buyback program

BY CSA STAFF

Framingham, Mass. Staples said it is resuming its $1 billion share repurchase program after a hiatus.

There is no expiration date on the program, which began in June 2007.

The company also set a quarterly cash dividend of 9 cents, payable on July 15 to shareholders of record as of June 25.

CEO Ron Sargent said a strong cash flow and balance sheet are letting the company return “excess cash to our shareholders” through dividends and share buybacks.

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B&N, Pandigital bring color to e-book experience

BY CSA STAFF

DUBLIN , Calif. (May25) Barnes & Noble has partnered with Barnes & Noble to offer the Pandigital Novel, a 7-inch e-reader with integrated Barnes & Noble e-bookstore, full color touch-screen display, Wi-Fi connectivity, and multimedia capabilities, Pandigital announced.

Through the partnership, Pandigital Novel cutsomers will have access to Barnes & Noble’s full e-bookstore catalog and be able to share content with others using Barnes & Noble’s LendMe technology.

"First and foremost, the Pandigital Novel e-reader was designed to deliver a world-class e-reading experience," said Dean Finnegan, CEO and founder of Pandigital. "By focusing on delivering superior content from Barnes & Noble, an easy-to-use design and an excellent customer experience, Pandigital is delivering a value proposition not currently available in the eReader category. With its many additional features, Pandigital Novel customers will be able to read what they want and do more of what they want on the go with an affordable product that is simple and fun to use."

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Bach to retire from Microsoft

BY CSA STAFF

Microsoft announced that Robbie Bach, president of the entertainment and devices division, will retire from the company this fall.

The company announced that SVP Don Mattrick will continue to lead the interactive entertainment business and SVP Andy Lees will continue to lead the mobile communications business. Each will report directly to CEO Steve Ballmer effective July 1.

"For the past 22 years, Robbie has personified creativity, innovation and drive. With this spirit, he has led a division passionately devoted to making Microsoft successful in interactive entertainment and mobility," Ballmer said. "Robbie’s an amazing business person and close personal friend, which makes his departure a point of sadness for me. However, given the strong leadership team he has built, the business performance of E&D this year and the launches of Windows Phone 7 and ‘Project Natal’ this fall, we are set up well for success as we continue to drive our mobile and entertainment businesses forward."

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