Pacific Northwest Seattle-based Amazon.com has bought social-networking site Shelfari for an undisclosed sum. Founded in October 2006, Shelfari...
Seattle-based Amazon.com has bought social-networking site Shelfari for an undisclosed sum.
Founded in October 2006, Shelfari allows members to share their reading lists and recommendations. Amazon invested an undisclosed amount in the Seattle-based firm in February 2007.
Most Read Business Stories
- The penthouse atop Smith Tower is on the rental market for the first time
- Washington state ‘literally failed workers,’ and fixing the unemployment system won't be easy
- Downtowns will be back, but Seattle has choices to make
- The wave of COVID-19 bankruptcies has begun
- Boutique cruise line Windstar will move its Seattle headquarters to Miami
Chief Executive Officer and co-founder Josh Hug will continue to lead Shelfari, said Amazon spokeswoman Tammy Hovey.
Earlier this month, Amazon agreed to purchase AbeBooks, which lists used, rare and out-of-print books for independent sellers worldwide. Also, Amazon has bought online sewing-supplies retailer Fabric.com and audiobook seller Audible this year.
Nordstrom told it can’t sell items
Seattle-based Nordstrom was ordered by a judge to stop selling Quiksilver’s Charlotte-brand apparel to end a trademark lawsuit by a New York accessories firm.
The consent judgment in favor of GMA Accessories, which makes apparel for chain stores under the brand names Charlotte and Capelli, was signed Aug. 24 by U.S. District Judge Victor Marrero in New York. Quiksilver is still a defendant in the case.
Closely held GMA sued in December, accusing Quiksilver and Nordstrom of violating U.S. trademarks.
Quiksilver, based in Huntington Beach, Calif., started illegally using Charlotte in 2006 for various items in its Roxy line of women’s clothing, GMA said in the complaint. Nordstrom infringed by selling the goods, GMA said.
Boeing wins order for 191 Chinooks
Boeing got a U.S. Army order valued at $4.3 billion for 191 Chinook helicopters over five years, adding revenue from Pentagon as profit from commercial planes slows.
The Army took an option to order another 24 aircraft during the contract, Boeing said Tuesday. Boeing was the only bidder and has supplied the Army with the helicopters since 1962, spokesman John Satterfield said.
Ford retools for Focus production
Demand for Ford Motor Co.’s Focus and other small cars has been superheated ever since gas prices headed toward $4 per gallon in May, and since then, Ford hasn’t been able to build the Focus quickly enough.
On Tuesday, though, the automaker took two steps toward further cranking up Focus production, announcing that it would sink $75 million into the body-making part of an SUV factory next door to the Wayne, Mich., Assembly Plant, where the Focus is built.
If demand stays strong, the sport-utility-vehicle plant will quickly start producing Focus bodies, eliminating what is now a bottleneck that is slowing production.
Jury awards Mattel $100M in damages
A federal jury awarded Mattel $100 million in damages on Tuesday in a federal copyright lawsuit that pitted the house of Barbie against MGA Entertainment, the maker of the saucy Bratz dolls.
Damages were awarded for contract interference and copyright infringement. No punitive damages were ordered against MGA.
Fed officials OK with interest rates
Even as they grappled with inflation worries, most Federal Reserve officials at their August meeting didn’t believe the Fed’s key interest rate was too low given harder-to-get credit conditions straining consumers and businesses alike.
Documents, released Tuesday, provided insight into the Fed’s thinking at the Aug. 5 meeting, when central-bank policymakers decided to hold its key rate steady at 2 percent for the second straight meeting.
But looking ahead, the next direction for rates is probably up, according to the documents.
Adobe sued over patent rights
Adobe Systems, the biggest maker of design software, was sued over claims it infringed a patent for proofing electronic documents.
Ipex, based in New York, claims Adobe is aware it is wrongfully using the protected property. Closely held Ipex is seeking unspecified damages and an order stopping Adobe’s conduct, according to a complaint filed Monday in federal court in Marshall, Texas.
Adobe, based in San Jose, Calif., uses Ipex’s technology in its Adobe Creative Suite 3, Adobe Version Cue CS3, Adobe Bridge, Adobe Acrobat Professional and Acrobat Organizer software, Ipex claims.
Adobe officials didn’t return a call seeking comment.
Citigroup to pay $18M in refunds
Citigroup will pay nearly $18 million in refunds and settlement charges for taking $14 million from customers’ credit-card accounts, California Attorney General Edmund Brown Jr. said Tuesday.
Citigroup will make refunds to the 53,000 customers affected, and pay $3.5 million in damages and civil penalties to the state of California, which had been investigating the practices for three years, the attorney general said.
The bank will also pay 10 percent interest to California customers, who accounted for $1.6 million of the money “swept” out of accounts and into a Citi fund between 1992 and 2003.
Citigroup’s “account-sweeping program” automatically removed positive balances from customers’ credit-card accounts, Brown said. For instance, if a customer double-paid a bill by mistake or refunded a purchase for credit, that positive balance was then taken from the customer without notification, Brown said.
Citigroup, however, said in a statement that it voluntarily stopped the computerized “sweeping” practice in 2003, and that it also voluntarily began refunding customers before the settlement.
Compiled from The Associated Press and Bloomberg News