Thursday, March 31, 2011
Johnson & Johnson reorganizes unit
NEW YORK
Johnson & Johnson is reorganizing its McNeil Consumer Healthcare unit to give more attention to the business, which has been stung by around 20 recalls of popular over-the-counter products like Tylenol, Motrin, and Benadryl.
On Monday, Johnson & Johnson will make McNeil a separate organization within J&J. It had been part of a larger group of consumer health care units. McNeil products have been the subject of repeated recalls since September 2009. The New Brunswick, N.J., company said those problems cost it $900 million in sales in 2010.
Another recall was announced Tuesday, when the company pulled about 34,000 bottles of Tylenol 8 Hour off the shelves because of a musty odor.
J&J is naming new leadership for the business.
Consumers still pay credit cards first
NEW YORK
People are continuing to stay current with their credit-card payments even if they are behind on their mortgage.
The number of people late on mortgage payments who remain current on their credit cards rose at the end of 2010, continuing a trend that began about three years ago as home values declined and unemployment rose.
Among consumers with at least one credit card and a mortgage, 7.24 percent were 30 days late on mortgage payments but were up to date on card payments at the end of 2010, credit reporting agency TransUnion says.
In contrast, 3.03 percent of consumers with both forms of debt were at least 30 days late on cards, but current on their mortgage.
Hershey to raise candy prices
HERSHEY, Pa.
Chocolate is soon going to cost more green.
The Hershey Co. is raising wholesale prices by 9.7 percent, because its own costs have risen. The candy maker says the price increase takes effect immediately.
Consumers may not see the impact on store shelves right away, because many retailers will be able to buy products at the old prices for about eight weeks.
Associated Press