Financial
California judge ups lead paint verdict to $1.15B PDF  | Print |  E-mail
Written by Associated Press   
Wednesday, 08 January 2014 07:14

SAN JOSE, Calif. (AP) — A California judge has increased by $50 million the amount that paint makers will have to pay into a fund to remove lead paint from homes across the state.

Santa Clara County Superior Court Judge James P. Kleinberg on Tuesday issued a final verdict ordering Sherwin Williams, National Lead and ConAgra to pay $1.15 billion after finding that the companies knew the paint was harmful to children.

A tentative ruling issued in December after a five-week nonjury trial had said the companies would have to pay $1.1 billion.

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Mulally puts the focus back on Ford's cars, trucks PDF  | Print |  E-mail
Written by DEE-ANN DURBIN, AP Auto Writers TOM KRISHER, AP Auto Writers   
Wednesday, 08 January 2014 07:07

DEARBORN, Mich. (AP) — All eyes will be on Ford's new vehicles — not its CEO — at the Detroit auto show next week.

CEO Alan Mulally finally put to rest rumors that he will leave Ford to run Microsoft. Mulally said Tuesday he'll stay at the Dearborn-based automaker through at least the end of this year.

"I would like to end the Microsoft speculation because I have no other plans to do anything other than serve Ford," Mulally told The Associated Press in an interview.

With that, Mulally ended months of speculation that had already clouded the debut of the new Mustang last month and threatened to overshadow next week's widely expected unveiling of a new F-150, plus the launch of 23 new vehicles this year. Mulally wouldn't say whether he had talked to Microsoft about the CEO job, but said the speculation had been a distraction for Ford.

"You don't have to worry about me leaving," Mulally said.

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Georgia banker accused of stealing millions seeks bond PDF  | Print |  E-mail
Written by Associated Press   
Wednesday, 08 January 2014 07:10

STATESBORO, Ga. (AP) — A judge must decide whether a former Georgia banker accused of stealing millions from investors should be freed on bond after he spent the past 18 months eluding authorities.

Aubrey Lee Price is scheduled to appear Wednesday for a bond hearing before a federal magistrate judge in Statesboro. Authorities say the 47-year-old Price misspent, embezzled and lost $21 million before he vanished in June 2012, leaving letters that indicated he planned to commit suicide.

A Florida judge declared Price dead a year ago, but he was arrested last week during a traffic stop in south Georgia.

Price has been indicted in Georgia and New York on bank fraud charges. The bank where Price served as a director, the Montgomery Bank & Trust near Vidalia, closed after its assets were depleted.


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Cheesy shortage: Kraft says Velveeta running low PDF  | Print |  E-mail
Written by Associated Press   
Tuesday, 07 January 2014 15:57

NEW YORK (AP) — Playoff parties may have one fewer dip option this year.

Kraft Foods says some customers may not be able to find Velveeta cheese over the next few weeks. A representative for the company, Jody Moore, didn't give any reasons for the apparent shortage, saying only that they happen from time to time given the "nature of manufacturing."

She noted that the lack of availability is more noticeable because of the seasonal demand during the NFL playoffs. The company has been airing TV commercials featuring a recipe for a chili con queso dip made with Velveeta.

Moore says it should be a short-term situation and that Kraft hasn't yet heard from any customers who are having problem finding the products. She did not say whether the company experienced a similar shortage last year.

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