U.S. tax break of $429 billion for Facebook
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Tiffany sues Costco in U.S. over engagement rings
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The jewellery icon Tiffany has gone to war in court with low-price icon Costco in New York to stop the sale of what it calls counterfeit engagement rings bearing the Tiffany trademark. It is a fascinating case which bring into focus the Costco practice of selling designer lines which it obtains through a third party of some type. In the Tiffany case, the trademark lawsuit filed in Manhattan federal court also calls on Costco to forfeit profits from the ring sales, plus damages of $2 million per infringement. Tiffany said it believes hundreds, if not thousands, of Costco members bought engagement rings they believed were authentic Tiffany products but were not. Luxury retailers often sue to stop sales of alleged imitation products they believe cut into their own revenue streams and customer goodwill. In Costco’s case, it also sells goods which are genuine at cut-rate prices. The practice undercuts small specialty retailers which rely on their profits to stay in business. “This is not the kind of behavior people expect from a company like Costco, and this case will shed a much needed light on this outrageous behavior,” said Jeffrey Mitchell, a lawyer for Tiffany. Mitchell also noted in the statement that Tiffany maintains an “aggressive and rigorous intellectual property program and regularly takes actions against counterfeiters and infringers.” A spokesman for Costco was not immediately available. In November 2012, a person shopping at a Costco in Huntington Beach, Calif., complained to Tiffany that she was disappointed to see Costco offering for sale what were promoted on in-store signs as Tiffany diamond engagement rings, according to the lawsuit. Mount Pleasant snow removal well underway
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Crews were making steady progress against the piles of dirt encrusted snow filling the curb lanes of Mt. Pleasant Rd. north of St. Clair Ave E on Friday. The City’s excellent industrial snow blower is seen here blasting the filthy stuff into a truck at Heath St. At City Hall meanwhile there was some familiar hand-wringing going on about whether Toronto should have declared a snow emergency to deal with last weekend’s storm. Well, maybe. But here in Worry City we have to fret about things like streetcar delays, possible annoyance that a car might be towed (really?) and even whether Winnipeg might laugh at us. What could be more mortifying? God bless the hard working guys on Mt. Pleasant we say. They seem to be so functional, so useful. Just another day at the office in Central Russia
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New videos record astonishing meteorite crash
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Brazen rush hour robbery of youth, 16, in a car
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11.45 pm mugging at Eglinton E. and Banff Rd.
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Meteorite crash in Russia injures 500 people
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Nadir Mohamed to retire as boss of Rogers
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Nadir Mohamed will resign by next year from his position as CEO of Rogers Communications and Media. He will leave the Toronto-based company by January 2014. Mr. Mohamed has been with Rogers since 2000 and headed its wireless division before taking over the top job in 2008, after Ted Rogers Jr. passed away. The company said its board will appoint a committee to begin an international search for a new chief executive but neither Edward Rogers III or his sister Melinda Rogers will put their names forward, although they will be involved in the search.
NHL lockout knocked the hops out of beer sales
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Molson Coors tells the CBC that said it could take months for the brewer’s sales and profits to fully recover from the NHL lockout. “The impact that it had in the second half of last year is permanent,” CEO Peter Swinburn said Thursday after the company reported its year-end results. Sales to retail fell 13 per cent, or seven per cent excluding an extra week of activity in the 2011 period, citing hockey and higher taxes in Quebec as the key factors. Molson Coor’s Canadian market share declined one share point on an estimated industry volume decline of five per cent, excluding the extra week of business in 2011. Funny, we were worried about the future of hockey. CBC.ca



