Financial
Panasonic returns to annual profit on weak yen PDF  | Print |  E-mail
Written by YURI KAGEYAMA, AP Business Writer   
Monday, 28 April 2014 06:30

TOKYO (AP) — Panasonic returned to profit after deep losses for the past two fiscal years, as a weak yen and restructuring efforts helped a gradual recovery, and forecast a 16 percent increase in gains for the coming year.

Like other Japanese electronics companies, Panasonic Corp. has been struggling amid intense competition from Apple Inc. and South Korea's Samsung Electronics Co. Prices of gadgets have been falling, adding to Panasonic's woes.

The Osaka-based maker of the Lumix camera and Evolta batteries reported Monday 120.4 billion yen ($1.2 billion) in profit for the fiscal year through March 2014, a reversal from a 754.3 billion yen loss the previous fiscal year.

For the fiscal year through March 2015, it is projecting 140 billion yen ($1.4 billion).

For the fiscal year through March 2012, it had lost 772 billion yen, one of the biggest losses ever for a Japanese company.

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Santa Fe real estate agent takes to using drone PDF  | Print |  E-mail
Written by Associated Press   
Monday, 28 April 2014 06:14

SANTA FE, N.M. (AP) — A Santa Fe real estate agent is taking marketing homes to new heights, along with new complications in federal aviation laws.

Agent Brian Tercero has been using a drone to help advertise homes on the market, according to the Santa Fe New Mexican (http://bit.ly/1fiIj9U). Video footage from a drone can better convey the appeal of a property than standard marketing photos of trees, he said.

"Flying over (the property) adds a whole other dimension," Tercero said. "It's powerful. And it was instrumental in getting the buyer to bite."

The Federal Aviation Administration has banned the use of drones for commercial purposes except in the cases of those with special permission from the agency. But a federal judge recently ruled that drones for commercial use don't fall under FAA regulations.

In March, a judge with the National Transportation Safety Board dismissed a $10,000 fine for a businessman who used a glider to take aerial photos for a University of Virginia Medical Center ad. The judge said the drone was not an aircraft as defined by the FAA's own regulations.

The FAA is appealing the decision as it works on new regulations to cover drones.

Last Updated on Monday, 28 April 2014 06:15
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'Citizen Kane' script sold at Orson Welles auction PDF  | Print |  E-mail
Written by Associated Press   
Monday, 28 April 2014 06:16

NEW YORK (AP) — Scripts for "Citizen Kane," Orson Welles' camera and a cigar ashtray were among the late director's belongings sold at a New York auction.

Sixty-seven lots fetched $180,000 at Heritage Auctions on Saturday.

Margaret Barrett, Heritage's director of entertainment-linked auctions, called the items "a piece of cinema royalty."

Two dozen pages of scripts for the 1941 masterpiece "Citizen Kane" went for $15,000, far surpassing the $2,000 presale estimate.

Welles' old Bell & Howell movie camera used to record a bullfight in Spain sold for $37,500, against a $2,000 estimate.

And a silver-plated cigar ashtray Ernest Hemingway gave Welles fetched $5,000. That's six times the expected price.

Also on the block were memorabilia the director's daughter, Beatrice Welles, kept for decades in Sedona, Ariz.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Residents await settlement OK in recycling suit PDF  | Print |  E-mail
Written by RICK CALLAHAN, Associated Press   
Sunday, 27 April 2014 08:19

INDIANAPOLIS (AP) — Northern Indiana residents who sued a wood-recycling plant, alleging that its dust and other emissions threatens their health and keeps them indoors, are awaiting a federal judge's approval of a settlement calling for the Elkhart plant's operators to clean up and shutter the site within five years.

The proposed settlement of the class-action suit also calls for Soil Solutions Co. to obtain a restrictive covenant barring similar operations from using the site after it's closed.

Environmental attorney Kim Ferraro sued VIM Recycling on behalf of local residents in 2009, two years before the plant was sold to Soil Solutions.

A federal judge dismissed that suit in 2010, but the 7th Circuit Court of Appeals in Chicago overturned that ruling in 2011, clearing the way for the suit to proceed against the plant, which grinds scrap wood into animal bedding and mulch.

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