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Archive for Tuesday, December 10, 2002

Business Briefcase

December 10, 2002

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Robotic cat marches to top of holiday toy list

With little more than two weeks until Christmas, parents are scrambling to find the FurReal robotic cat, Bratz doll playsets and other hot toys that are already scarce on store shelves.

The toys are scarce because retailers were conservative in their holiday merchandise orders, hoping to avoid piles of leftovers on Dec. 26.

While some toys are hot, there is no runaway best-seller this season. The surprise hit :quot; although not nearly at the same level as Furby or Tickle Me Elmo in past years :quot; is Hasbro's FurReal cat, pictured above, which is priced at $34.99 and is almost sold out in toy stores nationwide.

Wall Street: Tyco sues former leaders

Tyco International Ltd. sued its former chief executive officer, Dennis Kozlowski, and former chief financial officer Mark Swartz on Monday, charging the two made more than $40 million in "short-swing" stock trades.

The lawsuit, filed in New York, alleges the two men made dozens of such trades beginning in August 2000. Under Securities and Exchange Commission rules, the company is allowed to seize any "short-swing" profits made by corporate insiders who buy and then sell the firm's stock within a six-month period.

Atchison: MGP to buy back stock

Atchison-based MGP Ingredients announced Monday that its board of directors has approved a program to repurchase 1 million of the company's shares.

The purchases will be made on the open market and through private transactions, the company said. The company, which produces alcohol and ethanol, trades on the Nasdaq market under the symbol MGPI. The stock on Monday closed up 1 cent at $6.73.

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