Red Lobster’s in hot water over the cost of shrimp

A spike in shrimp costs is causing trouble for Red Lobster.

Parent company Darden has been fighting for some time to win back customers at its Olive Garden and Red Lobster chains as more affordable alternatives such as Chipotle have gained in popularity.

But in recent months, higher shrimp costs have become another factor weighing on Red Lobster. Chief Financial Officer Brad Richmond says the company is facing a $30 million increase in shrimp costs on an annual basis.

Based in Orlando, Fla., the company on Friday reported a lower quarterly profit due to weak sales at its Olive Garden and Red Lobster chains. 

Look who’s no longer talking: E-Trade baby waves bye-bye

The E-Trade baby will finally stop talking.

In the investor site’s new ad, the baby is upstaged by a cat named Beanie that sings. The tot quits in disgust at the end of the ad.

E-Trade confirmed it is retiring the baby and will go in a different direction with its next series of ads.

The company began its talking baby campaign in 2008 during the Super Bowl, at a time when online investing was not as common. 

Families of teenage victims in Wisconsin crash sue GM

The families of three teenagers killed or injured in a 2006 Wisconsin car crash are suing General Motors, alleging that the company was negligent in designing its small cars and committed fraud by not disclosing facts about the defects.

Natasha Weigel, who was 18, and Amy Rademaker, who was 15, died after the October 2006 crash involving a 2005 Chevrolet Cobalt compact car with a faulty ignition switch. The car’s driver, Megan Phillips, suffered permanent brain damage, according to a statement from the families’ law firm.

GM failed to warn the teens of a dangerous defect and misrepresented the car’s safety, said lawyer Robert Hilliard. The crash was among the first blamed on the faulty ignition switches. Last month GM recalled 1.6 million Cobalts and other small cars worldwide to replace the switches. The company has admitted knowing about the problem for at least 11 years before taking the action.

– From news service reports