Zipfizz Corp. of Mill Creek has signed a distribution deal with CVS/pharmacy, allowing the nation’s largest retail pharmacy chain to carry the local company’s energy drink products. CVS, with approximately 6,200 locations, will carry two flavors of Zipfizz’s powered energy drink. Since the start of the year, Zipfizz has signed similar distribution agreements with Target, Rite Aid, Bartell Drugs, Vitamin Shoppe and other chains.
Toy company sues over Scrabulous
Hasbro Inc. has sued the creators of the electronic game Scrabulous, saying it infringes on the property rights of their game Scrabble. The toy and games company said Thursday it also notified the operators of the Web site Facebook of the copyright infringement suit and asked them to quit hosting the Scrabulous game as soon as possible. Habsro says it filed the suit in federal court in New York and names Scrabulous creators Rajat Agarwalla and Jayant Agarwalla, as well as RJ Software, as the defendants.
Kimberly-Clark may raise prices
Sharply rising gas and raw materials costs led to a 10 percent drop in second-quarter profit at Kleenex maker Kimberly-Clark Corp., which said Thursday it may raise prices again in the U.S. and other markets. Chief Executive Thomas Falk said the Dallas-based company had raised prices in the U.S. and other markets to offset the higher energy and input costs but that those increases hadn’t kept up with the rise in commodities. Kimberly-Clark, which also makes Huggies diapers, Scott toilet paper and Viva paper towels, earned $416.7 million, or 99 cents per share in the quarter, down from $461.8 million, or $1 per share, a year ago. Excluding one-time costs, Kimberly-Clark earned $1.03 per share.
Delta partners with Alaska air
Delta Air Lines Inc. will provide engine overhaul and repair services for Alaska Airlines in a seven-year, $200 million deal between the two carriers. Delta said Thursday that its maintenance division, Delta TechOps, will service the CFM56-7 engines that power Seattle-based Alaska’s fleet of Boeing 737-700 and 737-900 aircraft.
Delta, based in Atlanta, said the deal will leverage its partnership with Chromalloy Gas Turbine Corp.
Huge ad drop for newspapers
Regional and national newspaper publishers, already staggering with a drop in ad revenue more severe than the industry has seen since the Great Depression, say the second half of 2008 may be even worse. Three publishers — McClatchy Co., Lee Enterprises Inc. and E.W. Scripps Co. — reported Thursday that their profits had fallen by nearly half in the second quarter compared with last year. They joined industry heavyweights New York Times Co. and Gannet Co., which reported earnings Wednesday and last week, in saying double-digit drops in ad revenue were mostly to blame for plunging profits, though rising costs played a role, too. All five publishers said ad revenue fell the fastest in June, and most said July is looking as if things will be as bad if not worse.
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