Best Buy IT workers filed a class-action lawsuit last Wednesday claiming that the Richfield, Minn.-based electronics retailer engaged in a pattern of age discrimination in terminating their jobs. The plaintiffs range from 40 to 71 years old, and their average age is 51, according to the lawsuit, which was filed in U.S. District Court in Minnesota. The charges relate to layoffs that were announced in April, when Best Buy said it planned to outsource its IT operations to Accenture Ltd., and to a smaller round of cuts that took place in October 2003.
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Best Buy’s returned purchases, restocking fees and customer rebates are under investigation in Florida by Attorney General Charlie Crist as possibly unfair and deceptive trade practices.
Best Buy’s attorneys, in a Collier County Circuit Court filing, are asking a judge to limit the information Crist is seeking and force him to justify the investigation first. Consumer advocates are asking what Best Buy is trying to hide. Others fear a detailed look at Best Buy’s records could reveal ongoing compensation issues with Household – HSBC during Shea v Household.
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A subsidiary of H&R Block Inc. said Tuesday it has agreed to pay $500,000 in fines to settle charges that two former brokers helped a hedge fund engage in improper trading practices.
The National Association of Securities Dealers, the brokerage industry’s self-policing organization, also required the investment division of the world’s largest tax preparer to pay $325,000 in restitution to mutual funds affected by the improper trades. The subsidiary, H&R Block Financial Advisors Inc., said it agreed to settle the case without admitting wrongdoing.
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The three largest credit reporting agencies (CRA’s) have a big impact on your personal credit. These agencies, also referred to as credit bureas, are for-profit companies. Trans Union, Equifax, and Experian correction form letters are available on Household – HSBC Watch in their “Credit Bureaus” category seen here.
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Kmart Holding Corp., citing a strong balance sheet and liquidity, said on December 29,2004 it plans to terminate an $800 million credit facility with General Electric Capital Corp. K-Mart plans to merge with Sears.
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