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Consumer Corner: Foreclosure settlement no magic bullet for economy
BEIJING, Sept. 21 (UPI) -- U.S. toymaker Mattel Inc. Friday apologized to China, taking responsibility for design flaws leading to recalls of millions of toys made in that country.
Thomas Debrowski, executive vice president of Mattel's global operations, apologized personally to Li Changjiang, a senior Chinese official, Xinhua reported.
"Mattel takes full responsibility for those recalls and I would like to apologize personally to you, the Chinese people and all of the customers who received toys that have been manufactured," Debrowski told the head of China's General Administration of Quality Supervision, Inspection and Quarantine in Beijing.
Debrowski admitted it was design flaws, rather than manufacturing problems in China, that caused the vast majority of its recalls this summer, with 17.4 million items called back because of loose magnets and 2.2 million because of toxic lead paint.
"Mattel does not require Chinese manufacturers to be responsible for the magnets-related recalls due to design problems," the company said in a news release.
The company also said its lead-related recalls were "overly inclusive."
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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