Hershey, hoping to expand its overseas presence, has lined up a potential partner as the most recognizable name in American chocolate considers starting a bidding war for British candy maker Cadbury PLC. Italian candymaker Ferrero International SA could give The Hershey Co. the financial firepower to top a $16.4 billion hostile bid by Kraft Foods Inc. Hershey and Ferrero said yesterday that they were considering making an offer for Cadbury.
J.C. Penney will stop publishing its twice-yearly "big book" catalogs, now that customers increasingly shop online. Instead, J.C. Penney Co. says it will publish specialty catalogs and focus its efforts online, on the Web site jcp.com and on social networks. In part, the company says it is responding to consumer habits to view catalogs more as "look books." The Plano, Texas, company will continue to publish its Christmas catalog and others, such as the "Little Red Book" for women's apparel and "Matters of Style" for men.
Allegheny General Hospital's transplantation program has received two honors. HealthGrades, an independent ratings organization, named AGH a top kidney transplant center based on its outcomes. And AGH and the Center for Organ Recovery and Education (CORE) were jointly honored by the U.S. Department of Health and Human Services for achieving a 75 percent or better rate of donors from the potential pool of all donors.
Kellogg Co. said there would be a shortage of its popular Eggo frozen waffles until next summer because of interruptions in production at two of the four plants that make them. The company's Atlanta plant was shut down by a September storm that dumped historic amounts of rain in the area. Meanwhile, several production lines at its largest bakery in Rossville, Tenn., are closed indefinitely for repairs, a company spokeswoman said. It will take until the middle of 2010 before shelves around the country are stocked, the company said.
The 2010 Ford Fusion beat out 22 competitors, including the redesigned Toyota Prius, the BMW 7-Series and the Chevrolet Camaro, to be named the Motor Trend car of the year ... American Express said yesterday that it would buy Revolution Money for about $300 million in an effort to stay current with ever-changing technology in the marketplace. Revolution Money, which was established by AOL co-founder Steve Case's Revolution LLC in 2007, offers customers secure online transactions using PIN numbers. ... Citigroup said its chief financial officer and co-head of global markets would get raises, while CEO Vikram Pandit will continue to collect a salary of $1 per year. Citi, based in New York, faces restrictions on executive compensation because it has received $45 billion in government bailout money after the peak of the credit crisis last fall.
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