Bull Moose store expanding to provide space for books

The Bull Moose Warehouse Store will soon be selling more than music.

Construction began Wednesday on a significant expansion of the store on Payne Road to allow the addition of a section holding more than 20,000 books.

“We are adding a huge selection of all types of books and making the rest of the store an even nicer place to shop,” said owner Brett Wickard. “Books have proven to be an extremely popular addition to our Bangor store, and we are psyched to expand into the space next door and add books here, too.”

After the expansion to 13,000 square feet of space, expected to be completed by Nov. 13, the store will be the largest Bull Moose location. It will remain open during construction. 

Lehman Brothers asks court to order $3 billion be repaid

Lehman Brothers Holdings Inc. is trying to recover more than $3 billion from banks, insurers and other financial services companies that it claims to have lost after its bankruptcy filing in 2008.

Lehman, in a filing Tuesday as part of its federal bankruptcy case, claims it and its creditors should have been paid ahead of noteholders who were party to 43 collateralized debt obligation deals. CDOs are asset-backed securities that derive their value from underlying investments such as mortgages or bonds.

The bankruptcy filing caused Lehman’s priority payment status to be revised, costing the company and its creditors $3 billion.

The company says the bankruptcy court has previously ruled that similar payment modification provisions were unenforceable. 

For holidays, Toys R Us plans to open FAO Schwarz stores

Toys R Us plans to open 10 FAO Schwarz pop-up stores for the holidays, giving new life to a brand that was down to just two locations before Toys R Us recently acquired it.

The move is the latest piece of the toy retailer’s aggressive plan to gain market share in a weak economy. Toys R Us is also opening 600 Toys R Us pop-up stores and increasing the selection of its exclusive toys and its own “R” label toys.

Women sue Goldman Sachs, claim gender discrimination

Three women who formerly worked for Goldman Sachs & Co. are suing the big Wall Street firm for what they say is rampant gender discrimination that unfairly favors men in pay and promotions.

The lawsuit filed Wednesday alleges that Goldman has violated federal and New York City laws by engaging in a systematic “pattern and practice” of discrimination against female professionals at the firm. They are asking a federal judge to certify the case as a class-action suit on behalf of the firm’s women employees.

The three, who were a vice president, a managing director and an associate, also are seeking damages for emotional distress they say they’ve suffered and for lost income.

“This suit is without merit,” said Goldman spokesman Lucas van Praag. “We make extraordinary efforts to recruit, develop and retain outstanding women professionals.”

Walmart’s holiday forecast: Toys for kids, socks for adults

If Walmart is right, Americans will be inundated with undergarments this holiday season.

The new president and CEO of the world’s largest retailer’s U.S. business says prices and practical thinking will drive shoppers as they look for gifts. And he plans to be prepared.

“Our customers remain challenged,” the executive, Bill Simon, said Wednesday at a Goldman Sachs retail industry conference. “So for all you adults, you should plan for socks and underwear.”

For children, the chain is focusing on hot toys and electronics, he said.

Simon aims to reverse five straight quarters of declining revenue at stores open at least a year, a key measure of retailers’ health.

It could be an especially challenging holiday season, given that Walmart shoppers facing tight budgets delayed their back-to-school purchases even longer than last year, many waiting to spend until after school started, Simon told analysts in the webcast address.

“Customers sort of shunned the school list, waited until school started and found out what they really needed and then came in and shopped,” he said.

To get certain movies in 3-D, buying TV is part of the deal

If you’re thinking of buying a 3-D television set this year based on the belief that you’ll be able to purchase a lot of the 3-D movies that have hit theaters in the past few years, think again.

U.K. research firm Screen Digest says 70 percent of the 25 3-D movies expected to be available this holiday season will be tied to the purchase of a TV from a certain manufacturer.

For example, a Sony 3-D TV buyer won’t immediately be able to watch DreamWorks Animation’s “How To Train Your Dragon” because that movie will be tied to the purchase of a set from Samsung Electronics Co.

Screen Digest says that so far, only three Hollywood movies, including The Walt Disney Co.’s “A Christmas Carol,” and three documentaries will be available on retail shelves without being tied to a specific TV brand.

 

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