Bowflex makers recall 800,000 machines
The makers of the popular Bowflex fitness machine are recalling nearly 800,000 units after dozens of people reported injuries from mechanical problems, the government announced Tuesday.
The machine's manufacturer already issued a voluntary recall of about 420,000 units in January after reports of similar problems.
The latest recall affects 680,000 Bowflex Power Pro systems and 102,000 Bowflex Ultimate Fitness Machines, manufactured by The Nautilus Group, of Vancouver, Wash.
Consumers are advised to stop using the backboard bench in the incline position and contact the company at (800) 820-8604 to receive a free repair kit.
Congress
N.Y. official: Probe insurance industry
Congress should dig deeper into the burgeoning scandal within the insurance industry, a top investigator said Tuesday, claiming lawmakers would find a "Pandora's box" of unethical conduct.
New York Atty. Gen. Eliot Spitzer told the Senate Governmental Affairs Committee that more revelations about bad practices were coming.
The scandal already has led to resignations, employee layoffs and guilty pleas by some executives. Two senior underwriters at Zurich American Insurance Co. pleaded guilty to criminal charges Tuesday.
Earnings
Retailers' sales soar during third quarter
The outlook for the holidays grew positive Tuesday after major retailers -- including Wal-Mart Stores Inc., JC Penney and The Home Depot Inc. -- offered bullish comments about consumer spending as they reported solid earnings increases for the third quarter.
Wal-Mart raised its full-year earnings outlook after posting a 12.7 percent increase in profits that matched Wall Street estimates. JC Penney reported its profits nearly doubled, beating projections.
Home Depot reported a nearly 15 percent jump in earnings on strong sales, particularly at stores open at least a year.
Telecommunications
Motorola hopes deal bolsters business
Motorola Inc. is acquiring MeshNetworks Inc., developer of a technology that makes it easy to set up and expand wireless networks, in a deal expected to help the world's No. 2 cell phone maker win more government business.
Terms were not disclosed for the transaction, announced Tuesday.
The technology used by MeshNetworks and other firms extends the concept of wireless hotspots from individual locations to networks covering areas where data, video, location and Voice over Internet Protocol can be shared.
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