BRIEFCASE.Byline: - Staff and Wire Services Credit union hits million-dollar level VAN NUYS - The Pacoima Federal Credit Union has reached $1 million deposit mark, the Valley Economic Development Center announced Monday. The Van Nuys-based nonprofit business development group has been working to bring a financial institution to the northeast San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. for several years, with an opening date set for October. Initial depositors include other credit unions, economic assistance groups and Transit Systems Inc. Mattel reports Q2 loss of $94 million EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and - Mattel Inc., the maker of Barbie dolls and Hot Wheels Hot Wheels is a brand of die cast toy car, introduced by American toymaker Mattel in 1968. It was the primary competitor of Johnny Lightning and Matchbox until 1996, when Mattel acquired rights to the Matchbox brand from Tyco. cars, announced a loss Monday due to a large tax expense related to the repatriation Repatriation The process of converting a foreign currency into the currency of one's own country. Notes: If you are American, converting British Pounds back to U.S. dollars is an example of repatriation. of foreign profits. Mattel's loss in the second quarter totaled $94 million, or 23 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with net income of $23.5 million, or 6 cents per share, in the second quarter a year ago. The loss reflects a tax expense of $112.9 million, or 28 cents per share, related to the company's decision to return foreign profits of about $2.4 billion to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. under a 2004 law that allows corporations to do so at a reduced tax rate. Excluding the tax charge, the El Segundo-based company's earnings were 5 cents per share. Sales at Mattel increased 10 percent, to $886.8 million from $804 million. Murdoch empire to grab Intermix in·ter·mix tr. & intr.v. in·ter·mixed, in·ter·mix·ing, in·ter·mix·es To mix or become mixed together. [Back-formation from obsolete intermixt, from Latin The Rupert Murdoch-controlled media giant News Corp. said Monday that it would buy Los Angeles-based online company Intermix Media Inc. for about $580 million in cash, or the equivalent of $12 per common share. The transaction is expected to close in the fourth quarter of this year. ``The acquisition of Intermix, combined with the recently announced formation of Fox Interactive Media, underscores News Corp.'s commitment to expand its Internet presence by offering a deeper, richer online experience for its millions of users,'' according to a company statement. Intermix reportedly agreed to pay more than $7 million to settle a lawsuit brought by New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Attorney General Eliot Spitzer, who accused the company of secretly distributing ``adware'' - software that delivers pop-up advertisements. T-bills rates go up to four-year high WASHINGTON - Interest rates on short-term Treasury bills rose in Monday's auction, with six-month bills climbing to the highest level in four years. The Treasury Department auctioned $18 billion in three-month bills at a discount rate of 3.220 percent, up from 3.135 percent last week. An additional $16 billion in six-month bills was auctioned at a discount rate of 3.420 percent, up from 3.355 percent last week. The three-month rate was the highest since Sept. 4, 2001, when it averaged 3.360 percent. The six-month rate was the highest since 3.440 percent July 23, 2001. The new discount rates understate un·der·state v. un·der·stat·ed, un·der·stat·ing, un·der·states v.tr. 1. To state with less completeness or truth than seems warranted by the facts. 2. the actual return to investors - 3.292 percent for three-month bills with a $10,000 bill selling for $9,918.61 and 3.529 percent for a six-month bill selling for $9,827.10. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, the most popular index for making changes in adjustable-rate mortgages, rose to 3.59 percent last week from 3.52 percent the previous week. |
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