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Talk of the Day

Seniors get new friend in fraud fight

By TIMES WIRES
Published May 9, 2006

Federal and state securities regulators on Monday announced a joint program designed to protect senior citizens from investment fraud.

The Securities and Exchange Commission has put together a new national strategy for protecting older investors, and has been working with securities-industry and Florida regulators in a crackdown on misleading sales seminars offering free lunches for seniors. The new program, a partnership between the SEC and the organization representing state regulators - the North American Securities Administrators Association - includes special inspections of brokerages and promoters to detect abusive sales tactics aimed at seniors, aggressive enforcement of the antifraud laws and investor education for seniors.

Other chatter

BUD KNOWS BARBECUE: Anheuser-Busch Cos. has licensed its Budweiser beer brand to Vita Food Products Inc. for a line of barbecue sauces. Vita will manufacture and distribute four Budweiser sauces developed by Anheuser-Busch brewmasters. The barbecue, baste and chicken wing sauces include Budweiser as an ingredient and will be sold at grocery stores and restaurant chains.

TIVO HELPS YOU HUNT COMMERCIALS: TiVo Inc., whose television recorders let users skip commercials, has begun a service that allows viewers to search for ads on their choice of products. Subscribers will be able to target ads by topic, such as cars and entertainment, or by brand name. Up to one hour of commercials fitting the criteria will be sent to the requester's machine.

COCA-COLA TEAMS UP WITH CULINARY INSTITUTE: Coca-Cola Co., the world's largest soft drink maker, has spent $200,000 to develop a line of mixed-soda drinks with the Culinary Institute of America. Chefs at the institute helped Coca-Cola develop concoctions such as the Fresca Pomegranate, which is made with Coca-Cola products including Fresca soda, Odwalla PomaGrand pomegranate juice and Seagram's club soda. Some of the drinks contain alcohol.

INTERNET GAMBLERS ARE YOUNGER: The average American Internet gambler is younger, richer and better educated than the typical casino visitor, according to a survey of 552 online gamblers commissioned by the American Gaming Association.

Information from the Associated Press and Bloomberg News was used in this report.

[Last modified May 9, 2006, 06:45:38]