Business news briefs
Credit union wins
Goldenwest Credit Union has received a "Golden Mirror Award" from the Credit Union Executives Society for its website design. It also earned second place in the website category. The national award program recognizes credit unions for excellence in marketing.
$1 million push
For every Utahn who goes to a participating Walmart on Saturday and on Oct. 13 and sees a demonstration of a Straight Talk Wireless Android smart phone, Straight Talk Wireless will donate $1 to Make-A-Wish, which grants the wishes of children with life-threatenting medical conditions. For the locations of the 20 participating Walmarts go to OneMinuteOneMillion.com.
higher 3Q profit
Samsung Electronics Co. forecast another record quarterly operating profit, likely driven by strong sales of high-end smartphones that offset weak semiconductor orders. The company is estimating that its July-September operating income nearly doubled to $7.3 billion from $3 billion a year earlier.
Avon top exec
to step down
Andrea Jung, the longtime CEO of Avon Products, said she will step down as the executive chairwoman by the end of the year. The announcement was somewhat of a surprise because Jung, who was pushed out as CEO in December, was expected to remain in her chairwoman post for at least two years.
Anglo American Platinum fired 12,000 striking miners for staging an unlawful strike, one of several that are slowly paralyzing South Africa's mining sector. About 80,000 miners, or about 16 percent of the country's mine workforce, are currently engaged in in a wave of wildcat work stoppages.
Troubled Zynga's stock is trading near its lowest level ever after the online game maker behind "FarmVille" forecast a third quarter loss amid weak demand. The company also said it expects to post a loss for the third quarter, largely because of an $85 million to $95 million charge on its OMGPop purchase. Its shares closed Friday at $2.48, down 34 cents for the day, or 12 percent.
Wet Seal chairman,
directors step down
Wet Seal's chairman and three other directors have stepped down, replaced by four nominees of the activist investor group unhappy with the teen retailer's performance. Wet Seal and The Clinton Group, which owns 7 percent of the company, have been fighting for control. As a result of the board changes, Clinton Group terminated its effort to get support from shareholders for its nominees. Wet Seal has 554 stores in 47 states, including Utah.
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