Mattel Posts Lower 3Q Profit on Charges

LOS ANGELES - Mattel Inc. on Monday reported a 1 percent drop in fiscal third-quarter profit, due to charges related to multiple product recalls by the world's biggest toy maker.

Its shares fell more than 2 percent in morning trading.

The El Segundo, Calif.-based company said net income for the quarter ended Sept. 30 slipped to $236.8 million, or 61 cents per share, from $239 million, or 62 cents per share, in the year-ago period. Latest-quarter results included charges of about $40 million related to the company's product recalls covering merchandise that contained lead magnets or bore lead paint.

Sales rose 3 percent to $1.84 billion from $1.79 billion a year …

Miles joins Covisint.(Brief Article)

DETROIT - Alice Miles, 46, the lead Ford Motor Co. executive assigned to Covisint LLC, has joined the online trade exchange as acting chief product officer. She had been director of purchasing process leadership at Ford.

Peter Weiss, 39, who represented DaimlerChrysler's stake during Covisint's initial development, has become Covisint's executive vice president of …

Sealy contract talks set to resume today.(Business)

GREEN ISLAND - Talks on a new contract, which would end the lockout of more than 360 unionized employees at Sealy Corp.'s Green Island mattress plant, will resume this afternoon. The session follows some apparent movement toward a settlement Thursday.

"We had movement again today," Dan Hige, the Sealy vice president in charge of the Green Island plant, said Thursday. …