OAKLAND, Calif., Nov. 10, 2010 - The United States District Court for the Northern District of California, Judge Saundra B. Armstrong, has granted final approval to the settlement of a wage and hour class action suit against Wal-Mart in California, In re Wal-Mart Stores Wage and Hour Litigation, Case No. 02069SBA (Smith Case No. C-06-02069SBA and Ballard Case No. C-06-05411SBA). The settlement, which provides for a payment of between $43 million and $86 million (including claims, costs, and attorneys' fees), concludes more than four years of litigation concerning the payment of wages to California associates. In addition, as part of the settlement, Wal-Mart has agreed to continue to maintain electronic systems that will protect the rights of workers.
"This settlement represents an extraordinary result for the members of this class, with up to $86 million being paid by Wal-Mart to resolve the claim that class members were underpaid approximately $12 million in vacation and other wages when their employment with Wal-Mart ended. The potential additional $74 million payment represents interest and statutorily imposed expenses that Wal-Mart may have faced had the matter proceeded to trial," said Louis Marlin of Marlin & Saltzman, one of the counsel for the class. "The case has been hard fought since it was filed four years ago, with Wal-Mart's lawyers presenting a vigorous defense. Marlin & Saltzman, along with our co-counsel, including Peter Hart, have fought hard for the class members."
"Our policy is to pay our associates in an accurate and timely manner. Our communications, processes and systems will help ensure that's the case," said Greg Rossiter, Wal-Mart spokesperson.
Wednesday, November 10, 2010
Tuesday, November 9, 2010
Caterpillar Announces Program to Offer Product Financing Options to Customers in India
The company and its dealers in India—TIPL and GMMCO— will work with leading banks and finance companies to support the sale of Caterpillar machinery and power systems to customers in India.
DELHI, India, Nov. 9, 2010 - As part of its commitment to enhance customer support, Caterpillar Inc. (NYSE: CAT) subsidiary Caterpillar India Private Limited announced today it has entered into agreements with its dealers in India and with key banks and Non Banking Financial Company's (NBFC's). The collaboration agreements will give customers in India new finance options for the purchase of Caterpillar machinery and power systems, which are being used to fuel growth and a wide range of development in India.
Caterpillar India and Indian Cat dealers GMMCO and TIPL have entered into agreements with the following key infrastructure focused banks – ICICI, HDFC Bank, NBFC's [Non Banking Finance Company] Tata Capital Services and Magma to support the sale of the full range of Caterpillar products sold in India.
"We are very pleased to have facilitated Caterpillar India's alliances with these leading banks and NBFC's in India," said Kent Adams, Caterpillar vice president with responsibility for Caterpillar Financial Services Corporation.
Caterpillar India and its dealers have signed Memorandums of Understanding with ICICI, HDFC Bank, Tata Capital and Magma whereby the Caterpillar dealers would apprise prospective Caterpillar customers about the financial solutions and loan advantages being offered by the Preferred Financiers to customers acquiring Caterpillar machinery and engines.
"This is another step that Caterpillar is taking to deepen its support of our customers in India," said Kevin Thieneman, Managing Director – Caterpillar Asia. "This program recognizes the unique demands of the marketplace in India, and will be tailored to give our customers the level of financing support they would expect from Caterpillar, the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives."
The Preferred Financiers will collaborate with Caterpillar India and its dealers to offer enhanced quote and credit approval turnaround, allied with competitive financial solutions to Caterpillar customers. This tie up will cover all eight dealer territories and benefit from the extensive network and coverage these selected Preferred Financiers provide across India.
DELHI, India, Nov. 9, 2010 - As part of its commitment to enhance customer support, Caterpillar Inc. (NYSE: CAT) subsidiary Caterpillar India Private Limited announced today it has entered into agreements with its dealers in India and with key banks and Non Banking Financial Company's (NBFC's). The collaboration agreements will give customers in India new finance options for the purchase of Caterpillar machinery and power systems, which are being used to fuel growth and a wide range of development in India.
Caterpillar India and Indian Cat dealers GMMCO and TIPL have entered into agreements with the following key infrastructure focused banks – ICICI, HDFC Bank, NBFC's [Non Banking Finance Company] Tata Capital Services and Magma to support the sale of the full range of Caterpillar products sold in India.
"We are very pleased to have facilitated Caterpillar India's alliances with these leading banks and NBFC's in India," said Kent Adams, Caterpillar vice president with responsibility for Caterpillar Financial Services Corporation.
Caterpillar India and its dealers have signed Memorandums of Understanding with ICICI, HDFC Bank, Tata Capital and Magma whereby the Caterpillar dealers would apprise prospective Caterpillar customers about the financial solutions and loan advantages being offered by the Preferred Financiers to customers acquiring Caterpillar machinery and engines.
"This is another step that Caterpillar is taking to deepen its support of our customers in India," said Kevin Thieneman, Managing Director – Caterpillar Asia. "This program recognizes the unique demands of the marketplace in India, and will be tailored to give our customers the level of financing support they would expect from Caterpillar, the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives."
The Preferred Financiers will collaborate with Caterpillar India and its dealers to offer enhanced quote and credit approval turnaround, allied with competitive financial solutions to Caterpillar customers. This tie up will cover all eight dealer territories and benefit from the extensive network and coverage these selected Preferred Financiers provide across India.
Tuesday, October 19, 2010
Parents Bring Federal Lawsuit After Tainted Baby Formula Injures Newborn
CHICAGO, Oct. 19 - A class action lawsuit alleging deceptive business practices has been filed against Abbott Laboratories over claims that the pharmaceutical giant sold millions of tubs of infant powder formula that was contaminated with beetles and beetle larvae.
The lawsuit, which was brought in federal court in Chicago, was filed on behalf of Maria C. Kiely, a mother of a newborn baby boy. The suit alleges that Abbott knew that its baby formula was tainted for at least six days prior to announcing it to the public. As a result, the suit claims that the named plaintiff's son, like thousands of babies throughout the country, suffered gastrointestinal health issues as a result of ingesting the tainted formula.
The lawsuit is brought by Jay Edelson and Rafey S. Balabanian of Edelson McGuire, LLC. According to managing partner, Jay Edelson, this case seems especially problematic for Abbott. "What we have found is that certain companies handle product recalls in an upfront and transparent way. We believe that we can prove that Abbott did the opposite and sat on information while babies got sick."
Edelson McGuire has had numerous high-profile product recall lawsuits, including a $30 million settlement involving the Thomas the Tank lead paint recalls.
About Edelson McGuire: Edelson McGuire, LLC is a plaintiff's class action law firm with attorneys in Illinois, New York, California, and Florida. The firm's attorneys have been recognized as leaders in class action law by state and federal legislatures, national and international media groups, the courts and their peers. They have testified before the United States Senate on class action issues and have repeatedly been asked to work on federal and state legislation and policy issues involving banking, cellular telephony and consumer privacy. Their attorneys have appeared on hundreds of national and international television and radio programs to discuss their cases and class action and consumer protection issues more generally. Their class settlements are collectively worth over one billion dollars and have changed the consumer protection policies of numerous industries.
The lawsuit, which was brought in federal court in Chicago, was filed on behalf of Maria C. Kiely, a mother of a newborn baby boy. The suit alleges that Abbott knew that its baby formula was tainted for at least six days prior to announcing it to the public. As a result, the suit claims that the named plaintiff's son, like thousands of babies throughout the country, suffered gastrointestinal health issues as a result of ingesting the tainted formula.
The lawsuit is brought by Jay Edelson and Rafey S. Balabanian of Edelson McGuire, LLC. According to managing partner, Jay Edelson, this case seems especially problematic for Abbott. "What we have found is that certain companies handle product recalls in an upfront and transparent way. We believe that we can prove that Abbott did the opposite and sat on information while babies got sick."
Edelson McGuire has had numerous high-profile product recall lawsuits, including a $30 million settlement involving the Thomas the Tank lead paint recalls.
About Edelson McGuire: Edelson McGuire, LLC is a plaintiff's class action law firm with attorneys in Illinois, New York, California, and Florida. The firm's attorneys have been recognized as leaders in class action law by state and federal legislatures, national and international media groups, the courts and their peers. They have testified before the United States Senate on class action issues and have repeatedly been asked to work on federal and state legislation and policy issues involving banking, cellular telephony and consumer privacy. Their attorneys have appeared on hundreds of national and international television and radio programs to discuss their cases and class action and consumer protection issues more generally. Their class settlements are collectively worth over one billion dollars and have changed the consumer protection policies of numerous industries.
Wednesday, October 6, 2010
Beware the Energy-Sucking Vampires in Your Home
CHICAGO, Oct. 5 - They lurk in the dark in your kitchen, your living room and even your bedroom while you sleep. They look like little glowing red fangs, on televisions, game consoles and other household electronics and appliances. You may know them as standby lights, but ComEd wants you to be aware that these lights are pesky little energy stealers also known as power vampires.
Here's a scary thought: power vampires draw small amounts of electricity whether your electronic device is on or off. According to the U.S. Department of Energy, the average U.S. household spends $100 per year to power electronics and appliances while they are off or in standby mode.
"Many of the most common home electronics, such as computers and some kitchen appliances, are the biggest energy guzzlers," said Val Jensen, vice president, Marketing and Environmental Programs, ComEd. "These electronics waste energy when they are left plugged in and can add up to 10 percent to your monthly electric bill."
ComEd wants to ensure its customers are aware of power vampires and how they can slay them to better manage their energy usage and save money.
This fall, the utility will feature a series of advertisements warning customers of these power hungry creatures. In addition, from Oct. 15-31, ComEd customers can visit the Brookfield and Lincoln Park zoos to peek inside the company's "shadowboxes," which will reveal tips on how to banish these electric-sucking nightmares from their homes forever:
Use a power strip with an on/off switch to fully power down home electronics while in standby mode.
Use a power strip for multiple battery chargers so it can be easily switched off when not actively charging.
Unplug or switch off all nonessential devices when preparing to travel out of town.
Unplug your charger for your cordless phone, portable music play or other portable device after its recharged.
Plug home electronics, such as TVs and DVD players, into power strips and turn the power strips off when the equipment is not in use (TVs and DVDs in standby mode still use several watts of power). However, while unplugging DVRs can save money, they will not be able to record programs while turned off and program scheduling may need to be reset when turned back on.
Turn off your computer and monitor when not in use. Alternatively, set to hibernation or sleep mode rather than using screen savers, which do not save as much energy.
Look for the ENERGY STAR® label on home appliances, electronics and other products. ENERGY STAR® products meet strict efficiency guidelines set by the U.S. Environmental Protection Agency and the U.S. Department of Energy.
Here's a scary thought: power vampires draw small amounts of electricity whether your electronic device is on or off. According to the U.S. Department of Energy, the average U.S. household spends $100 per year to power electronics and appliances while they are off or in standby mode.
"Many of the most common home electronics, such as computers and some kitchen appliances, are the biggest energy guzzlers," said Val Jensen, vice president, Marketing and Environmental Programs, ComEd. "These electronics waste energy when they are left plugged in and can add up to 10 percent to your monthly electric bill."
ComEd wants to ensure its customers are aware of power vampires and how they can slay them to better manage their energy usage and save money.
This fall, the utility will feature a series of advertisements warning customers of these power hungry creatures. In addition, from Oct. 15-31, ComEd customers can visit the Brookfield and Lincoln Park zoos to peek inside the company's "shadowboxes," which will reveal tips on how to banish these electric-sucking nightmares from their homes forever:
Use a power strip with an on/off switch to fully power down home electronics while in standby mode.
Use a power strip for multiple battery chargers so it can be easily switched off when not actively charging.
Unplug or switch off all nonessential devices when preparing to travel out of town.
Unplug your charger for your cordless phone, portable music play or other portable device after its recharged.
Plug home electronics, such as TVs and DVD players, into power strips and turn the power strips off when the equipment is not in use (TVs and DVDs in standby mode still use several watts of power). However, while unplugging DVRs can save money, they will not be able to record programs while turned off and program scheduling may need to be reset when turned back on.
Turn off your computer and monitor when not in use. Alternatively, set to hibernation or sleep mode rather than using screen savers, which do not save as much energy.
Look for the ENERGY STAR® label on home appliances, electronics and other products. ENERGY STAR® products meet strict efficiency guidelines set by the U.S. Environmental Protection Agency and the U.S. Department of Energy.
Realtors Report Home Prices On Staten Island Are Climbing
Survey of June, July and August reveals 'Days on Market' dropped nearly 4 percent as compared to the same period a year ago
STATEN ISLAND, N.Y., Oct. 5 - The cost of buying a home on Staten Island is inching up.
The borough's home prices rose over the summer, when compared to the same period last year, according to the latest report from the Staten Island Board of Realtors (SIBOR).
The median price of a home in the borough for the rolling average of June, July and August was $390,000, which was 5.4 percent higher than the same period in 2009.
The report additionally indicates that the number of homes sold on the Island was almost unchanged, but that the "Days on Market" went down nearly 4 percent.
"While this activity is still very much a remnant of the 2010 federal tax credit that expired in April, continued record low mortgage rates, that surely won't last forever, should signal to buyers and sellers that the time to complete a transaction for qualified buyers and motivated sellers is now," said Sandy Krueger, CEO of SIBOR.
According to SIBOR's year-to-date statistics, the Island experienced a 9.2 percent increase in home sales this year in comparison to 2009.
"There is no way to time a market. The best time to buy is when you find the property that best meets your needs," Krueger said.
Recent lender disclosures in the foreclosure environment and changing mortgage guidelines make attempts at timing ever more difficult, he added.
"What is most valuable today for buyers and sellers is someone who can interpret the volumes of changing statistics and guidelines and provide a roadmap to a successful transaction."
The statewide housing market also experienced strong median price growth compared to August 2009, according to the preliminary single-family sales data accumulated by the New York State Association of REALTORS.
The state's August 2010 median sales price of $240,000 represents an increase of 9.1 percent compared to the July 2010 median of $220,000, and an increase of 20 percent from the August 2009 median of $200,000.
Sales within the state increased in August from July by 3.7 percent, but remained 30-percent below the August 2009 total.
STATEN ISLAND, N.Y., Oct. 5 - The cost of buying a home on Staten Island is inching up.
The borough's home prices rose over the summer, when compared to the same period last year, according to the latest report from the Staten Island Board of Realtors (SIBOR).
The median price of a home in the borough for the rolling average of June, July and August was $390,000, which was 5.4 percent higher than the same period in 2009.
The report additionally indicates that the number of homes sold on the Island was almost unchanged, but that the "Days on Market" went down nearly 4 percent.
"While this activity is still very much a remnant of the 2010 federal tax credit that expired in April, continued record low mortgage rates, that surely won't last forever, should signal to buyers and sellers that the time to complete a transaction for qualified buyers and motivated sellers is now," said Sandy Krueger, CEO of SIBOR.
According to SIBOR's year-to-date statistics, the Island experienced a 9.2 percent increase in home sales this year in comparison to 2009.
"There is no way to time a market. The best time to buy is when you find the property that best meets your needs," Krueger said.
Recent lender disclosures in the foreclosure environment and changing mortgage guidelines make attempts at timing ever more difficult, he added.
"What is most valuable today for buyers and sellers is someone who can interpret the volumes of changing statistics and guidelines and provide a roadmap to a successful transaction."
The statewide housing market also experienced strong median price growth compared to August 2009, according to the preliminary single-family sales data accumulated by the New York State Association of REALTORS.
The state's August 2010 median sales price of $240,000 represents an increase of 9.1 percent compared to the July 2010 median of $220,000, and an increase of 20 percent from the August 2009 median of $200,000.
Sales within the state increased in August from July by 3.7 percent, but remained 30-percent below the August 2009 total.
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