SEARCH

Monday
Mar282011

Inventor of Super Glue Dies at 94

Jupiterimages/Thinkstock(KINGSPORT, Tenn.) -- Harry Wesley Coover Jr., the inventor of Super Glue, passed away over the weekend at his Kingsport, Tennessee home.  He was 94.

Coover came up with the idea for the adhesive during his time working for Tennessee Eastman Company.  While there, he took notice of new refractometer prisms that were accidentally glued together and saw that as an opportunity to create the product that came to be known as Super Glue.

The ultra-powerful adhesive with a vast variety of uses, technically known as cyanoacrylate, has since become a staple in kitchen drawers as well as businesses.  Physicians and veterinarians have even been known to use Super Glue to close wounds when sutures aren't available.

Last year, Coover was honored at the White House with the National Medal of Science.

Copyright 2011 ABC News Radio

Sunday
Mar272011

Wells Fargo Joins Other Banks in Dropping Debit Rewards

Stockbyte/Thinkstock(SAN FRANCISCO) -- Wells Fargo has announced it will discontinue its debit rewards plan for new customers in the wake of a proposed law that would limit how much retailers can charge customers when they use a debit card.

The move comes amidst a flurry of banks canceling similar services, including JP Morgan Chase and San Francisco Bank.

As government officials aim to reduce fees incurred by debit card users, banks are attempting to offset a change that they say will result in a significant decrease in revenue it receives from retailers.

JP Morgan Chase has said its decision to drop the rewards program will not take effect until July, while Wells Fargo has yet to say if the change will impact existing customers.

Officials say the proposed legislation is scheduled to be implemented in July.

Copyright 2011 ABC News Radio

Sunday
Mar272011

Costco Asks State to Change Liquor Laws, Again

Getty(KIRKLAND, Wash.) -- Wholesale giant Costco is taking another shot at the privatization of liquor, just months after its proposed I-1100 bill was rejected.

In November, Costco proposed a bill that would allow any store with a liquor license to sell hard liquor, thereby eliminating the state from cashing in on what private retailers like Costco believed would be a profitable move.

However, the company's pitch failed to convince lawmakers that the state should hand over the right to sell booze to anyone who wants to, prompting Costco to revaluate its plan.

As a result, Costco is now pushing for a compromise -- allow any store more than 9,000 square feet the right to sell booze, and recoup additional tax revenue in return.

The proposal would include a profit-sharing plan whereby the state would potentially receive funds upfront by the retailer and subsequent liquor tax on a per-year basis.

State officials have yet to comment on Costco's latest pitch.

Copyright 2011 ABC News Radio

Sunday
Mar272011

Alaska Airlines and Horizon Air Solve Computer Problem

Alaska Airlines(SEATTLE) -- Alaska Airlines and Horizon Air on Sunday said that operations at both airlines close to being back to normal following a computer system outage on Saturday.

According to a joint press release issued by the airlines, the computer system issue has been resolved and the majority of flights for both Alaska Airlines and Horizon Air were reportedly operating on time on Sunday, although some flights were delayed due to crew scheduling issues. The airlines advised that their customers should check with them before heading to the airport.

On Saturday Alaska and Horizon were forced to cancel 150 flights due to the computer system problem, with over 12,000 passengers being affected.

"On behalf of the 13,000 Alaska Airlines and Horizon Air employees, I offer my profound apology to customers inconvenienced by this disruption," Alaska Airlines President Brad Tilden said in a statement.

Copyright 2011 ABC News Radio

Saturday
Mar262011

Number of T.G.I. Friday's Restaurants to Double Globally

Stockbyte(DALLAS) -- Carlson Restaurants has announced that it plans to double the number of T.G.I. Friday's restaurants globablly

The restaurant's parent company has outlined a strategic plan called Ambition 2015, aimed at solidiying Carlson as the "restaurant, employer and investment of choice by 2015."

Carlson Restaurants President and Chief Executive Officer Nick Sheppard says the company has a number of measures planned to help it reach its desired goal of doubling its international presence over the next five years with its trademark brand.

"With the strength of our Friday's brand, our management team and our franchise partners, we are uniquely positioned to dramatically increase the footprint of our business," Shepherd said.

According to a repot by Knapp Track, T.G.I. Friday's outpaced the rest of the casual dining market in the U.S. by 1.6 percent in 2010.

T.G.I. Friday's has 350 international locations in 60 countries other than the United States.

Copyright 2011 ABC News Radio

Saturday
Mar262011

Study: More Than Half of America Use Facebook

NICHOLAS KAMM/AFP/Getty Images(SOMERVILLE, N.J.) -- A new study says that more than half of all Americans are now on Facebook.

Edison Research claims that 51 percent of Americans over the age of 12 have profiles on the social-networking giant created in a college dorm room in 2004.

According to the study, the number of users on Facebook is six times higher than in 2008. The findings, which will be unveiled as part of a presentation on April 5, also suggest that persons over the age of 35 have demonstrated remarkable year-to-year usage growth.

The study was conducted in January 2011 from a national survey of 2,020 people, aged 12 years or older.

Copyright 2011 ABC News Radio

Friday
Mar252011

U.S. Postal Service to Close Offices, Offer Buyouts

PAUL J. RICHARDS/AFP/Getty Images(WASHINGTON) -- The U.S. Postal Service plans to shut down seven district offices in a restructuring effort to cut annual costs.

The agency says it plans to close the Albuquerque, Columbus, South East Michigan, Northern Illinois, South East New England, South Georgia, and Big Sky Montana offices. It is all part of a cost-cutting initiative that the Postal Service says will see as many as 2,000 post offices closed over the next year.

As a result, the agency is offering $20,000 buyouts spread over two years to those 50 years or older with at least 20 years of service or for any age in cases where someone has worked for at least 25 years. The buyouts are intended to offset in part some 7,500 administrative and executive positions the Postal Service plans to eliminate.

The agency says it believes the new restructuring will save the Postal Service close to $750 million per year.

Copyright 2011 ABC News Radio

Friday
Mar252011

AXE Turns Up the Heat in Marketing to Young Men

Comstock/Thinkstock(ENGLEWOOD CLIFFS, N.J.) -- If a product made the not-so-subtle promise that one use would make women want to lick all over you, it would probably grab your attention.

Sex, sex and more sex is the tried-and-true hook that the makers of AXE -- a line of male-deodorant body products -- have used in their relentless advertising to reel in young men.

"[It's] a lick-able, addictive fragrance," said Jeanine Bernstock, the company's fragrance development manager.

AXE's commercials boast that just one long spray across a young man's chest -- said to be the best way to wear the fragrance -- would instantly cause countless voluptuous ladies to chase after him, pawing for his affections.

AXE's marketing director, Mike Dwyer, called this the "AXE lifestyle" and said the body spray is the perfect wing-man for their target demographic of 18- to 24-year-olds who are in the "mating game."

"It is about really making you feel comfortable with the right scent, and a scent that girls like," he said. "AXE, at the end of the day, is a brand about giving guys confidence."

According to Unilever, which makes the brand, AXE by itself is the largest men's grooming brand in sales in the United States.

The company wouldn't reveal exactly what combination of ingredients goes into making its scents, only to say that they use a collection of flowers, herbs and spices.

Unilever is considered to have practically invented the body spray category in 2002. It has helped fuel an enormous boom in men's grooming products, which is expected to balloon to a $33.2 billion-a-year industry by 2015, according to a report by Global Industry Analysts, Inc.

AXE has also tapped into social media, with an active Twitter account that tweets out advice and giveaways, as well as sponsored events in major cities. But in the end, those "lick-able" scents are what drive good business for AXE.

"What might be uncomfortable for one person might be absolutely funny for someone else," Mike Dwyer said. "The style we have chosen is the AXE lifestyle."

Copyright 2011 ABC News Radio

Friday
Mar252011

Mega Millions Website Suggests Saving for Retirement

Justin Sullivan/Getty Images(NEW YORK) -- Given the long odds of winning Friday's $312 million Mega Millions jackpot, the multi-state lottery's website welcome page message to use your payout to "Save For Retirement" is a curious one -- and possibly a dangerous one, gambling experts say.

Those three words are etched above the image of a piggy bank against a clear blue sky on the Mega Millions website. It's one of a series of serving suggestions for your lottery "dreams" along with exotic trips and gifts.

But, you'll have better luck getting struck by lightning. And, given your life span you might have better odds of getting struck by lightning more than 5,000 times before winning the big prize Friday.

Asked about the homepage message, a spokeswoman for the 12-state lottery was quick to defend its 176 million-to-1 odds retirement plan.

"Whether you're dreaming about retirement or buying a home, the idea is to place your dream in that photo," said Carolyn Hapeman, Mega Millions spokesperson for New York state. "Playing the Mega Millions is not the way someone should try to better their financial situation but it's a nice way to save for your retirement should you win. It's a very bad idea to think you're going to better your situation with a wager on any lottery game."

In fact, with the very low chances of winning a substantial prize -- and the lottery's payback of just 50 percent of proceeds in winnings -- lotteries are a sure-fire way to lose money.

Since its inception in May 2002, Mega Millions has sold more than 21.88 billion tickets and 110 people have won the jackpot. Let's do the math: The cost of playing the Mega Millions is $1. Imagine you have a $25 a week lottery habit and the cost each year is $1,300. If you take that same $25 a week from the age of 21 to 65 years old and invest in a Roth IRA with a 7 percent return rate, you'll accumulate $346,000.

Of course, plenty of winners do change their lives with lottery wins. But it's no strategy for financial security.

Copyright 2011 ABC News Radio

Friday
Mar252011

FCC May Give AT&T/T-Mobile Deal a Rough Time

Alex Wong/Getty Images(WASHINGTON DC) -- The Federal Communications Commission is taking the hard line against the T-Mobile/AT&T merger.

The $39 billion merger threatens to make AT&T a monopoly in the mobile carrier market. The deal would make AT&T the only cell phone provider to have a GSM network, unlike Sprint and Verizon's CDMA system.

"There's no way the [FCC] chairman's office rubber-stamps this transaction. It will be a steep climb to say the least," an FCC official told The Wall Street Journal.

Copyright 2011 ABC News Radio







ABC News Radio