Daily Press from Newport News, Virginia • 30

C8 Thursday, February 20, 2003 MONEY WORK Daily firm Briefs On the Move Toys INSURANCE iafe On the Net www.hasbro.com www.lego.com www.lionlamb.org www.mattel.com www.mgae.com Uv Vv Ji WWj'r! is v. -1 Fill 3t CARS RECALLED. Ford Motor Co. says it's recalled more than 441 ,000 of its 1997 Ford Escort and Mercury Tracer cars worldwide to install a protective shield over the airbag sensors. The U.S.

automaker said that earlier this year, U.S. regulators notified Ford of reports of electrical fires and unintended airbag deployment possibly caused by a contaminated airbag monitor. Ford had at least 159 reports of unintended airbag deployment, which allegedly resulted in a small number of minor injuries, including arm and facial abrasions from the airbags, Ford spokesman Glenn Ray said. At least eight lawsuits related to the airbags also have been filed against Ford, Ray said. Ford found during an investigation that the airbag monitors could become contaminated from fluid leaks or condensation from the heater case.

Ford said the rate of reported problems with the airbags is extremely low, but it decided to recall the cars to fix the problem. Ford will install a shield and waterproof grease at no charge to customers at Ford and Mercury dealerships. A majority of the recalled cars are from the United States, but some also were sold in Canada, Mexico, Europe and elsewhere, Ford said. Continued from C7 12-inch action figures for $19.99. A home video for MGA Entertainment's popular Bratz fashion dolls is due in stories in early 2004, and the company is in talks with several studios to create a movie part action, part animated to be in theaters in 2005.

Studios believe it makes sense to capitalize on a toy's popularity "You already have a built-in brand. You have one leg up," said Jeffrey Tahler, vice president of acquisitions for Miramax, which is in talks with other toy makers to make movies and videos. It's old news that entertainment properties from Spider-man to SpongeBob SquarePants spin off products from toys to apparel. But now, with the $20.3 billion traditional toy industry struggling with sluggish sales, the movement is in reverse. The toys lead to movies or videos, which lead back to toys.

Isaac Larian, president and CEO of MGA Entertainment, estimates that worldwide retail sales of the Bratz brand, including accessories, could well surpass $3 billion in 2005, up from last year's $650 million. Lego is hoping a movie and videos will give Bionicles now a $150 million-plus business as much marketing power as A home video for MGA Entertainment's popular Bratz fashion dolls is due in stories in early 2004, and the company is in talks with several studios to create a movie part action, part animated to be in theaters in 2005. But some parents are wary "It's all totally money-driven. They're trying to cash in on the popularity of the toys, but if they sneak in some good messages, it's a little better," said Lynne Halladay, a 41-year-old mother from Herndon. Still, she doesn't like that toy companies are seducing her 9-year-old daughter, Julia, to want more toys, and she's worried that these movies and videos "stifle creativity" Julia saw both "Barbie in the Nutcracker" and "Barbie as Rapunzel," and wanted the toys that relate to each one.

"I liked the stories," Julia said. She got a Nutcracker Barbie, but not toys related to "Barbie as RapunzeL" "There's a limit," her mother said. Translating a toy's popularity to the screen isn't a sure thing. "There has to be a strong story related to it, and it has to relate to the way the child plays," said Chris Byrne, a New York-based independent toy consultant The story also has to make the child want the toy "Star Wars." But has commercialism gone too far? "Parents are facing an uphill battle in teaching kids values and protecting their children," said Daphne White, executive director of Bethesda, Md. -based The Lion Lamb Project which monitors violence in children's entertainment "Toy companies are spending huge amounts of money on making them irresistible and addictive.

Children's play used to be directed and pro Hot toys and trends from this year's American International Toy Fair Starz karaoke machine with Pop singer wannabes can tunes and record themselves with animated characters. Starz Sing 'N Groove, CHEAP: Catering to budget-conscious consumers in these difficult times, toy makers are coming with plenty of trendy products $10. They include Spinmaster's a three-ball juggling game Jakks Pacific's Tongue flavored strips that melt in your and Lego Systems Clikits, an arts and crafts kit that children make accessories like and handbags by snapping pieces together (starts at The Associated Press Kevin Hogge has been named unit manager for the Tidewater office of United H0GGE American Insurance Co. Hogge has 27 years of experience. He's the recipient of several company and industry awards.

APPOINTMENTS Eastern Virginia Medical School has announced that three doctors have received professor emeritus status: Jock R. Wheeler, M.D. George W. Koehl, M.D. H.William Fink, M.D.

Henry McKelvIn, DVM, has been appointed to serve on the Board of Veterinary Medicine. McKelvin practices at Mercury Animal Hospital. He's a graduate of the University of Georgia College of Veterinary Medicine. ADVERTISING Waters Advertising Agency Inc. has announced these new staff members: Sibyl Kelly has joined the company as media director.

Kelly most recently worked for Hambright, Calcagno and Downing. Dorthe Cohrs has joined the company as a copywriter. Cohrs is a graduate of Virginia Commonwealth University. FINANCE Ben Mason has been named credit adviser for SunTrust Bank in the private-client services sector for South Hampton Roads and the Peninsula. Mason has been with SunTrust for 17 years.

jDaUuJJrcos vss.com i I I Hot trends and products (along with manufacturers' suggested retail price) featured at this week's American International Toy Fair: LITTLE CHEFS: After last year's hits such as Spin Master's Ice Maker and Mattel's Harry Potter Polyjuice Potion maker, toy makers are rolling out more food-making toys. Just a few: Spinmas-ter's McDonald's McFlurry Maker which lets kids make ice cream desserts; Mattel's Pumpkin Juice Maker, tied to the "Harry Potter and the Chamber of Secrets" movie and Hasbro's new spin on Easy Bake Easy Bake Real Meal Oven, a new light-bulb-free oven that allows kids to make such meals as macaroni and cheese. RETRO: The retro craze continues, but these toys from the past are enhanced with new technology. They include Play Along Sing Along Care Bears, which are interactive and sing classic children's tunes Slinky which plays music and three electronic games; and Hasbro's Twister Moves ($1 9.99), which comes with three CDs and 60 minutes of dance-style music. I PRE-TEEN GADGETS: Toy makers are hoping to keep the 8-to-1 0 age group in toy stores longer with nifty gizmos.

From Hasbro there is Video Now a portable personal video player that lets viewers watch past episodes of such cartoons as Nickelodeon's SpongeBob SquarePants; and Thintronics, a new line of ultra-thin, over-sized, fully functional poster phones ($24.99) and poster battery-operated radios Jakks Pacific Toy Max division updated its AP duced by children." White also is concerned about the violent content in some of these movies and videos. Toy executives argue that the movies and videos have important messages. Wagner of Hot Wheels said the Hot Wheels movie and videos will "teach the power of strong values, such as courage and teamwork." Larian said the Bratz videos will teach the value of friendship, along, of course, with offering some style direction. THERE IS i Singing animation. sing to dancing (Singing $129.99) I ON THE economic out under Astrojax, Tapes, mouth lets jewelry plastic Barbara Managing )) NEW JOBS.

A defense contractor In Virginia Beach expects to add 250 jobs to its local work force over the next Zk years. The Virginia Beach Development Authority approved a $200,000 grant to encourage AMSEC LLC's expansion. A joint venture of Science Applications International Corp. and the Northrop Grumman Newport News shipyard, AMSEC provides engineering services to the Navy and the commercial maritime industry. AMSEC already employs about 350 workers in Virginia Beach.

The firm generates about $300 million a year in revenue and has 3,000 employees worldwide. The new jobs will be in engineering, logistics and other areas and will pay an average salary, including benefits, of $55,000 a year, said Jerri Fuller Dickseski, spokeswoman for Northrop Grumman Newport News. IPO SUIT CONTINUES. A federal judge has rejected efforts by Citigroup's Salomon Smith Barney, Goldman Sachs Group and 53 other investment banks to throw out an investor lawsuit that accuses them of rigging hundreds of IPOs. The decision, which came five months after the motions were filed, removes a major hurdle in one of the largest securities lawsuits on record.

Legal specialists said it puts new pressure on the defendants the 55 investment banks who underwrote the initial public offerings and the 308 companies that issued them to settle the case before it goes to trial. EARNINGS AND DIVIDENDS Financial Corp. declared a regular cash dividend of 16 cents per share, payable April 1 to shareholders of record on March 17. Chesapeake Corp. declared a regular quarterly dividend of 22 cents a share on common stock, payable March 15 to shareholders of record on April 1 1 Commonwealth Bankshares Inc.

announced a 4-cent-a-share cash dividend, payable Feb. 28 to shareholders of record as of Feb. 25. The dividend represents a 14.3 percent increase over the Nov. 30, 2002, dividend of 3 cents a share.

From staff and wire service reports DIG GREEN EGG World's Bast Smoker snd Grill! Ciara, WmMjMl Editor MW Wachovia Continued from C7 and clearing operations, will be chairman of the new firm. Strangfeld has led Prudential Securities for the past two years. He will continue in his position as a vice chairman of Prudential Financial. "Our two firms are a great fit," Strangfeld said. "This new company makes sense because it gives us the scale necessary to compete and because both parent companies share an investor-focused strategy" Wachovia created through the merger of First Union and the old Wachovia, has assets of $342 billion and branch- Oil Continued from C7 oil they could find without keeping any in reserve.

The Venezuelan government is trying to rebuild its oil industry the only sector in the country still on strike but analysts estimate that exports to the United States are only about 1.5 million barrels per day, or roughly half of what they were before the strike started. jf 723-2428 I Wachovia site: www.wachovia.com I Prudential site: www.prudential.com es in 11 states and Washington, D.C. Prudential Financial companies, with about $556 billion in total assets, serve individual and institutional customers worldwide. They include Prudential Insurance one of the largest life insurance companies in the United States. In afternoon trading on the New York Stock Exchange, shares of Prudential fell 62 cents, or 2 percent to $30.30.

Wachovia fell 42 cents, or 1.2 percent, to $35.23. "Refiners don't have any excess sitting around and they've had to cut runs," said Ed Silliere, an analyst at Energy Merchant LLC in New York. "This is normally the time of year when we build 3 million to 4 million barrels of crude per week." Last week, the Department of Energy reported that commercial inventories of crude declined by 4.5 million barrels to 269.8 million barrels 52 million barrels below the year-ago level and the lowest level since 1975. CARPET Thousands of Rolls and Remnants I Installations I Complete Workroom Services I Custom Area Rugs I Free Home Measurement and Sample Service Carpet Mill Outlet One North Armistead Ave. Hampton, Va vwwvgocmo.net mmm mm mm- Virginia's Largest Dinettes Sn owpoom; DINETTES UNLIMITED Over 123 Dinettes on Display! i Since 1977 Second St, Williamsburg 374-8766 229-3722 838-2494 ll4M45 4133 W.

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