Voting under way in bank’s charitable giving program

Bangor Savings Bank has begun its annual Community Matters More charitable giving program, and plans to distribute $100,000 to 68 nonprofits throughout Maine.

Maine residents can nominate groups that they think should receive the largest grants. Residents can vote through March 7 at

Already, 30,000 votes have been cast, said Carol Colson, Bangor Savings’ senior vice president and director of community relations.

Hartland’s Prime Tanning on verge of new ownership

The bankrupt Prime Tanning plant in Hartland could have a new owner by the end of the week, officials said Wednesday.


Tasman Industries Inc. of Louisville, Ky., has bid $6.5 million for the leather tanning operation, the largest employer in Hartland, with 180 employees. Prime Tanning President Paul Larochelle said the sale could close by week’s end, but some details remained to be worked out.

In November, Prime Tanning became Maine’s third tannery to file for bankruptcy protection in the past decade. Under Chapter 11, the company reorganized and sought to reinvent itself after closing its Berwick plant and selling another plant in Missouri. The company cited liabilities of $10 million.

Tasman, which emerged as a suitor during bankruptcy proceedings, processes 140,000 cattle hides per week at 12 processing facilities around the world.

Multiyear cable deal averts Sinclair TV signal blackout

Time Warner Cable has reached a multiyear deal to carry the signals of 28 TV stations owned by Sinclair Broadcasting to its cable subscribers in 12 states.

The agreement definitively ends the chance of a signal blackout to some 4 million Time Warner Cable Inc. subscribers. The two sides had tentatively agreed to a deal two weeks ago.


In Portland, Sinclair owns WGME, Channel 13.

As part of the final agreement, Time Warner Cable will produce three half-hour local news programs on weekdays for Sinclair Broadcasting Group Inc.’s ABC affiliate, WXLF-TV in Greensboro/Winston-Salem, N.C., beginning next January.

Time Warner reports solid increase for fourth quarter

Time Warner Inc., the owner of Warner Bros., HBO, CNN and Time magazine, on Wednesday reported a 22 percent increase in its fourth-quarter profit and raised its forecast for this year, citing optimism about its TV business.

The stock jumped $2.79, or 8.6 percent, to close at $35.10. Earlier in the day, it hit a two-year high of $35.15.

The New York-based media company said a recovery in advertising and health trends in subscriptions for HBO and other products mean that it expects earnings, excluding items, to rise by a percentage in the “low teens” from last year.


Assuming an increase of 12 percent, Time Warner would earn $2.70 per share, above the average estimate of $2.64 that FactSet found in its survey of analysts.

Overseas growth boosts Yum Brands Inc.’s income

The owner of the Pizza Hut, Taco Bell and KFC fast-food brands says its fourth-quarter net income rose 27 percent with robust growth overseas.

Yum Brands Inc. said Wednesday that its net income was $274 million for the quarter, or 56 cents per share. That compares with $216 million, or 45 cents per share, a year earlier.

The Louisville, Ky., company’s fourth-quarter revenue was $3.56 billion, up from $3.37 billion.

Pizza Hut franchisee sues parent company in fee flap


The businessman who shut down 44 New Orleans- and Baton Rouge-area Pizza Hut restaurants in a legal dispute with the parent company is fighting back in court.

Larry Lundy’s company seeks unspecified monetary damages plus attorney fees in its response to a federal lawsuit filed weeks ago in Dallas by Pizza Hut Inc.

The parent company claims in the suit filed Jan. 3 that Lundy Enterprises failed to pay royalty and advertising fees on time.

The lawsuit describes efforts to work out a settlement calling for Pizza Hut to purchase assets from Lundy.

However, the fair market value of the assets turned out to be too little to pay off liens and other obligations faced by Lundy Enterprises, according to the lawsuit.

In federal court filings this week, Lundy makes numerous countercharges and seeks an unspecified dollar amount in damages. Among the countercharges is that Pizza Hut Inc. acted in bad faith and broke franchise agreements.


Mattel revenue up 9 percent as dolls tot up strong sales

Barbie, American Girl and new Monster High dolls all sold strongly for Mattel, the nation’s largest toy maker, during the fourth quarter, sending revenue up 9 percent.

The growth outpaced the industry and likely its chief rival Hasbro, which earlier forecast a revenue decline for the quarter.

The nation’s largest toy maker said Wednesday net income edged down to $325.2 million or 89 cents per share, from $328.4 million, or 89 cents per share last year.

Last year’s quarter included a one-time tax benefit of 8 cents per share, however.


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