Tide to change Pods lid amid child safety concerns
By Jessica Wohl
(Reuters) – After at least one child was hospitalized for swallowing its prettily packaged detergent, Procter & Gamble Co said on Friday it will make Tide Pods more difficult to open.
A double latch will be put on the lid of Tide Pods tubs and should be in markets in the next couple of weeks, P&G spokesman Paul Fox said on Friday.
The American Association of Poison Control Centers (AAPCC) issued a warning last week that people should keep highly concentrated, single-dose packs of detergent high up and out of the reach of children.
According to the AAPCC, some young children who swallowed the small packets required hospitalization, while others got the detergent in their eyes.
“Laundry packs, like any cleaning product, must be kept out of the reach of children,” P&G’s Fox said.
The AAPCC said that poison control centers have been receiving more calls about children exposed to single-dose laundry detergent packets.
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Our preview of next week’s #Walmart annual extravaganza http://t.co/iqgcLwJa
Bribery scandal may dampen Wal-Mart annual party
By Jessica Wohl
(Reuters) – Wal-Mart Stores Inc’s (WMT.N: Quote, Profile, Research, Stock Buzz) annual meeting in northwest Arkansas was supposed to be an unbridled celebration of the world’s largest retailer’s 50th anniversary.
But a bribery scandal has led to growing calls for its chief executive and others to be removed from the boardroom and activist shareholders threaten to put a damper on the June 1 party, even if their efforts have little chance of succeeding.
Wal-Mart was bombarded by negative comments from shareholders and activists after the New York Times reported in April that management at Wal-Mart de Mexico (WALMEXV.MX: Quote, Profile, Research, Stock Buzz), or Walmex, allegedly orchestrated bribes of $24 million to help it grow quickly last decade and that Wal-Mart’s top brass tried to cover it up.
The black eye came as Wal-Mart plans to use its annual shareholder extravaganza to mark a half century since opening its first store and after the company worked for years to improve its image.
While investigations into possible violations of the U.S. Foreign Corrupt Practices Act proceed, Wal-Mart is not expected to say much about the matter. The allegations are being investigated by the U.S. Department of Justice, the U.S. Securities and Exchange Commission, and government agencies in Mexico. Wal-Mart is also conducting an internal probe.
“They’re unlikely to be able to say anything detailed. It’s really going to be about moving forward and what’s being done,” said UBS analyst Robert Carroll, who monitored last year’s meeting, which featured jokes by Will Smith and performances by the Black Eyed Peas and others. “You can’t party too hard, you can’t totally ignore it. It might put a little bit of a damper on the 50th anniversary.”
Talbots said there’s no Sycamore deal for now and issued earnings this morning. Conference call not until Tuesday afternoon.
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Twin Cities Business’ take on Target’s #gaypride online t-shirt sales: http://t.co/89v1MDQ9
PayPal strikes deals to get into more stores, from @alistairmbarr : http://t.co/N94E8WjX $EBAY $PAY
CalPERS to vote against 9 Wal-Mart board members
May 23 (Reuters) – CalPERS, the biggest U.S. public pension fund, said on Wednesday it plans to vote against nine Wal-Mart Stores Inc board members amid allegations that the retailer’s top brass failed to adequately investigate widespread bribery in Mexico.
The California Public Employees’ Retirement System is the latest shareholder to publicly voice concerns over the board’s role after the New York Times reported in April that Wal-Mart de Mexico, which is majority-owned by Wal-Mart, used illegal payments to win market leadership in that country and that top Wal-Mart executives knew about the matter and tried to cover it up.
The alleged bribery scandal has prompted several high-profile Wal-Mart investors to publicly vent their displeasure with key board members including Chief Executive Mike Duke and former CEO Lee Scott. Still, such actions likely will be only symbolic since the family of Wal-Mart founder Sam Walton controls roughly half of the company’s shares.
CalPERS said it plans to vote its 7.77 million Wal-Mart shares against Duke, Scott, Chairman Robson Walton and six others.
CalPERS said it believes the nine were in positions of authority, oversight or management of the company’s operations during the period when the alleged bribery took place.
The other six are James Breyer, Michele Burns, Douglas Daft, Jim Walton, Christopher Williams and Linda Wolf. Wal-Mart has 16 nominees in the June 1 election.
The announcement from CalPERS comes a day after CalSTRS, the California State Teachers’ Retirement System and the second-largest U.S. public pension fund, said it planned to use its 5.3 million Wal-Mart shares to vote against the re-election of the entire board at the company’s annual meeting on June 1.


