Magazine names new Camry 2007's top car
By TIMES WIRES
Published November 22, 2006
The redesigned Toyota Camry, the hottest-selling car in America, is the winner of Motor Trend magazine's 2007 Car of the Year award. The award, to be announced today, went to all Camry variations, including the hybrid, because the car is innovative yet has a broad appeal, magazine editor-in-chief Angus MacKenzie said. The Camry beat 26 other models that were new or redesigned in the year prior to Jan. 1, the magazine said. Japanese automakers had 10 cars in the field, with six U.S. models, five from South Korea, four from Germany, one from the United Kingdom and one from Sweden.
Nike cancellation may cut 4,000 jobs
Nike Inc.'s decision to cancel orders from a Pakistan-based producer of hand-stitched soccer balls due to labor violations could cost the supplier more than 4,000 jobs, its general manager said Tuesday. Saga Sports, which employs 8,000 to 9,000 people, exported products valued at 2-billion rupees (almost $33-million) last year, said the company's general manager, Rizwan Dar. He said soccer balls for Nike accounted for 70 percent of the company's business. Nike, the world's largest maker of athletic apparel, accused Saga Sports of having soccer balls hand-stitched inside private homes, raising the potential for the use of underage workers and unsafe working conditions.
PepsiCo, stressing health, gets Naked
PepsiCo Inc. agreed to buy Naked Juice Co. to expand sales of natural-juice drinks and compete with Coca-Cola Co.'s Odwalla brand. Naked Juice makes 25 vitamin-fortified drinks such as a pineapple-banana protein shake. Terms of the deal weren't disclosed. PepsiCo acquired healthier beverage and food companies including Izze and Stacy's Pita Chips in the past year to lure drinkers shunning sugary sodas. Chief executive Indra Nooyi is adding Naked Juice to try to win consumers from juices and smoothies by Odwalla, which Coca-Cola bought in 2001.
Disney, Payless step up with deal
The Walt Disney Co. said Tuesday it will work with Payless ShoeSource Inc. on a line of Disney-themed footwear as part of a deal that cuts out the licensing middleman and has the companies working more closely together on shoe design and retail marketing. The direct-to-retail deal calls for Disney to collaborate with Payless to develop and sell shoes exclusively in 4,600 Payless stores and on Payless.com. The shoes will feature Disney and Disney Pixar characters, including Disney princesses, Nemo and Winnie the Pooh. They are expected to be available in the spring.