aqua dots recall November 7, 2007
Posted by Bradley in : Uncategorized , comments closedSpinmaster made this announcement today:
Following notification by Moose Enterprises of a recall in Australia of a product called Bindeez, which is similar to the line of toys we distribute for them in North America under the Aqua Dots brand, we are requesting that retailers remove the Aqua Dots toy from retail shelves and sale in North America.
Out of an abundance of caution, we have stopped shipping this item and are working with the Consumer Product Safety Commission and Health Canada.
Spin Master considers all safety issues to be of a serious nature including the media reports with Moose Enterprises’ Bindeez product. In addition to notifying our customers and the appropriate authorities, our company is working diligently to identify any shipments that could potentially be included in a recall by the CPSC and Canadian officials.
Spin Master has always been a trusted company and distributor of children’s products and we have made the safety of children our foremost priority.
We will continue working to ensure that this standard is strictly upheld. We are grateful that this issue was brought to our attention so that we can quickly address it to ensure both the quality and safety of every product that we distribute.
In something of a contrast, Bloomberg has the story as “Spin Master Recalls Toys That Made Children Comatose”.
financial services roundtable blueprint November 7, 2007
Posted by Bradley in : Uncategorized , comments closedThe Financial Services Roundtable has published its Blueprint for US Financial Competitiveness which argues for a version of principles-based financial regulation. The principles it advocates are: fair treatment for consumers, competitive and innovative financial markets, proportionate, risk-based regulation, prudential supervision and enforcement, a choice of options for serving customers, and management responsibilities. The Blueprint suggests that The President’s Working Group on Financial Markets should oversee implementation of the principles, and (with input from the private sector) individual regulators’ regulatory action plans. The Blueprint also seeks to limit regulators’ enforcement activities and to impose limits on litigation of securities claims, in particular advocating the establishment of a “shareholder litigation review process” under which:
shareholders present potential Section 10b-5 cases to the SEC prior to filing. Such cases would not be filed and would have no standing if the SEC determines to pursue an investigation and review of the matter.
another mattel recall November 6, 2007
Posted by Bradley in : Uncategorized , comments closedA new recall by Mattel, just days after Mattel (The World’s Premier Toy Brands”) disputed criticisms of one of its products in a Consumer Reports article, saying:
Fisher-Price takes toy safety very seriously and we will continue to design and develop toys based on the established international toy safety standards.
The new recall relates to a “learning kitchen” manufactured in Mexico: small pieces may break off and pose a choking hazard.
Mattel’s most recent Form 10-Q identifies 17 class actions which have been initiated in the US following the earlier recalls, together with litigation in Canada, Brazil and Colombia.
germaine greer on pink November 5, 2007
Posted by Bradley in : Uncategorized , comments closedNothing beautiful was ever pink.
guy fawkes day November 5, 2007
Posted by Bradley in : Uncategorized , comments closedVisiting Guido Fawkes’ blog in honour of today I saw this story linking to a video of Gordon Brown congratulating a TV show called Countdown on its 25 years in business. The video (which appears to be genuine as it is shown on the Downing Street youtube page (“Watch the most informative, the latest, the most amusing footage from 10 Downing street.”), linked to from the 10 Downing Street web page) is deeply weird, nowhere near as funny as Blair’s appearance with Catherine Tate, and apparently posted just before national commemoration of an attempt to blow up Parliament.
Here it is:
machinima: bloodspell November 2, 2007
Posted by Bradley in : Uncategorized , comments closedOn November 22 (5.15 – 8.30pm at London Metropolitan University Graduate Centre) there is an event presenting and discussing Bloodspell, a new full-length machinima. I wish I could go.
mifid takes effect November 1, 2007
Posted by Bradley in : Uncategorized , comments closedThe Markets in Financial Instruments Directive (MiFID) (the EU Commission provides information here), adopted in 2004, comes into effect today, although it will still take some time for implementation. The Financial Times went in for bad puns and a joke quiz on the topic yesterday.
uk credit card issuers are guarantors of liabilities of foreign suppliers October 31, 2007
Posted by Bradley in : Uncategorized , comments closedThe House of Lords today interpreted the Consumer Credit Act 1974 in OFT v Lloyds TSB to the effect that issuers of credit cards to customers in the UK are liable under s 75(1) in respect of misrepresentations and breaches of contract by suppliers in relation to transactions financed by a credit agreement which take place and are performed outside the UK and are subject to foreign law. Lord Mance’s judgment, with which the other Law Lords concurred, points out that arrangements for credit card usage have changed since 1974 so that the decision means that credit card issuers have potential liability in respect of the actions of suppliers who just happen to be part of a credit card network. The Law Lords’ decision is consciously protective of consumers on the basis that the intention of the statute was to protect consumers. For example, Lord Mance states:
In relation to overseas transactions, there would be likely to be an even greater discrepancy between the card holder’s ability to pursue suppliers on the one hand and the ease with which card issuers could obtain redress through the contractual and commercial ties which Crowther contemplated would link them and suppliers. Card issuers’ ability to bear irrecoverable losses and so “spread the burden” exists in relation to both overseas and domestic transactions.