If you think that all kids want these days is a Wii, a Nintendo DS or the latest PlayStation, then a series of recent lawsuits may make you think twice.Wham-O Inc., the manufacturer of such iconic toys as the Hula Hoop, Frisbee and Super Ball, says in a recent lawsuit that its products are so valuable that a rival is out to destroy the company.In lawsuits filed from 2006 to 2008, Wham-O claims Manley Toys—aka Toy Quest, aka SLB Toys USA—violated its trademarks and patents on toys like the Frisbee and Super Ball. It also claims that Manley bribed a Wham-O research and development executive to steal trade secrets, marketing strategies and toy designs for Wham-O’s future product lines—then hired the former employee after she gave Wham-O’s confidential material to Manley.Wham-O has, thus far, been awarded more than $8 million in damages and attorney fees against Manley/Toy Quest, but that has not stopped the feud.Last year Manley took the highly unusual step … [Read more...] about Wham-Owed
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Slide Rules and Hula Hoops – Business Obsolescence and BankruptcyOne of the functions that bankruptcy proceedings can serve is to encourage entrepreneurship by allowing people to pursue bold innovations while still allowing them to recover if their new ideas don’t prove successful. Another equally important function is to provide a structure for restructuring or liquidation of businesses that have become obsolete. There are several ways in which a business can become distressed by obsolescence. The slide rule business was left in the dust as technology developed and the slide rule was permanently replaced by more advanced devices. Similarly, typewriters have all but disappeared following the development of computers and keyboards.Recent distress in the oil sector and earlier difficulties in the steel industry have been the result of economic strains caused by temporary rather than permanent market displacements. In addition, economic trends, changing … [Read more...] about The Road Ahead for 2017 – Restructuring & Insolvency in US
Guinness World Records has unveiled a fresh collection of unusual record-breakers, the latest in a long line of people who have done highly improbable things better than anyone else. In the United States, Getti Kehayova's incredible ability to spin a 17ft (5.1 metres) titanium hula hoop earned her the Guinness World Records title for the "Largest hula hoop spun (female)". Lisa and Chris Pitman hold the record for most pine boards broken in one minute with one hand. The husband-and-wife team smashed more than 500 blocks in one minute between them (Lisa 230, Chris 315). When not smashing pine boards, Lisa is the only female Taekwondo master in the UK. Another record was smashed by Kevin Nicks, creator of the fastest garden shed, which zooms around Yorkshire in northern England at 80 miles per hour (128 kph). The motorised shed boasts a 400 BHP turbocharged engine and broke the record by travelling at 80.67 mph. In a category all of her own was Brittany Walsh, a circus performer from … [Read more...] about Watch: Guinness World Records reveals fastest garden shed
During the summer months, the inside of the North Pole’s post office (Zip Code 00000) is usually a placid place. Outside, it is equally quiet and tranquil. Mostly, it is just a small herd of reindeer grazing and romping about during the sunny, warm days. There is a natural rhythm to the place. However, when the calendar on the wall in the post office turns to October 1, the pace of activity quickens and culminates in fever pitch by December 24 of each year. The letters from boys and girls post-marked from around the world arriving at the North Pole Post Office in October are a reminder of the anticipation and pent-up excitement of their primary younger customer base. The letters are carefully sorted and meticulously organized. Hundreds of letters a day arrive in October, thousands in November and millions during the second and third weeks in December. The last minute rush does create a problem for the HR department because every letter must be checked twice as part … [Read more...] about Enterprise Risk Management (ERM) at S. Claus, Inc.
OKLAHOMA CITY (AP) — Massive teacher protests at the Oklahoma state Capitol have done more than put political pressure on lawmakers: The situation has forced school districts, churches, community organizations and parents to improvise to take care of students.The state's largest two school districts will be closed for a ninth consecutive day Thursday, matching the length of a walkout in West Virginia earlier this year that started a rebellion of teachers in some Republican-led states including Kentucky and Arizona.Oklahoma Republican Gov. Mary Fallin approved teacher pay raises of about $6,100, but many educators say that's not enough because classrooms still need more money.Teachers' union leaders have not indicted when they expect demonstrations to end, but the number of protesters has dwindled, and Republican legislative leaders say they don't plan to consider more bills to raise more revenue.Still, groups have worked together to make sure kids have been entertained, educated … [Read more...] about Oklahoma teacher walkout means improvising to care for kids