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November 8, 2007
GOOD DAY FOR: Late payments, after Visa agreed to pay American Express about $2.1 billion to settle an antitrust case effectively decided by the Supreme Court almost three years ago. American Express filed suit against Visa and MasterCard in 2004 after the high court agreed that the two card associations had violated antitrust laws. The suit is still pending against MasterCard. (Reuters)
BAD DAY FOR: Love beads, after regulators in the U.S. and Australia pulled popular Chinese-made toy beads from the shelves because when swallowed, the beads release the “date rape” drug gamma hydroxybutyrate. The recall affects 4.2 million toys in the U.S., where they’re sold as Aqua Dots. Two kids in the U.S. went into comas and three in Australia were hospitalized after eating the beads. (USA Today)
of The Week magazine.