TIRE INDUSTRY
Bridgestone makes promotion
Nashville-based Bridgestone Americas has promoted Steve Shelton to senior vice president of technology, manufacturing and procurement at Bridgestone Americas Tire Operations.
The promotion is part of a realignment of Bridgestone Americas Tire Operations technology, manufacturing and procurement groups.
Shelton, a 20-year Bridgestone Americas employee, had been vice president for product development.
Manufacturing and procurement groups will report to him. Shelton will continue to have responsibility for Bridgestone Americas tire development group, the Akron facility and the company’s race tire manufacturing operation.
RETAIL
Target to offer new brands
Target Corp. is planning a new organic and natural store brand as it works to rev up its grocery business. The retailer said the new brand, called Simply Balanced, will start with drinks and snacks like corn chips on Sunday. The line is an outgrowth of similar products within its existing Archer Farms store brand, which is positioned as a premium alternative to national name brands.
Although they still account for less than 10 percent of overall grocery sales, organic foods are growing at twice the rate of conventional groceries, Target said.
The Minneapolis company with 11 Akron-Canton area locations also plans to announce next week that it will boost its organic food selection by 25 percent by 2017.
In addition to Archer Farms, Target also offers a store brand called Market Pantry that is about 10 to 30 percent cheaper than national name brands.
The new Simply Balanced line, which will eventually include about 250 products over the next five months, will be priced more in line with Archer Farms and national brands.
VIDEO GAMES
Xbox unit to play used games
Microsoft’s upcoming Xbox One gaming console will be able to play used games, clearing up a worry among gamers and video game retailers such as GameStop, which trade in used games.
That means video games discs users buy will not be limited to one Xbox One device, and players can share or trade in the games they have bought for other used games, as they have been able to do in the past. Microsoft Corp. said in a blog post it will not charge a fee to retailers, publishers or gamers for transferring their old games. The Xbox One, which goes on sale later this year, will need to be connected online at least once every 24 hours to work. Some players had been concerned that the console was going to require a constant Internet connection.
AUTO INDUSTRY
Toyota unveils new Corolla
The Toyota Corolla economy car, is getting a radical new look. Toyota showed off a new version in Santa Monica, Calif., hoping to shed the low-cost image and attract new, younger buyers to its brand.
The 2014 version, which goes on sale in the fall, is longer and sits lower, with an athletic look. It also gets a new transmission, suspension and interior that Toyota says will make the car quieter and more luxurious, with better handling than the current version. It’s the 11th generation of a car that Toyota has been selling worldwide since 1966.
Toyota sold 132,514 Corollas this year through May, beating the No. 2 Civic by 3,500. But the Corolla’s average selling price of $18,464 is the lowest of the five top-selling compacts. It sells for almost $1,600 less than a Civic, according to the TrueCar.com auto pricing site. And Toyota is second only to Ford’s Focus in discounts per car at $2,072.
COMMUNICATIONS
AT&T reports solid quarter
AT&T Inc. said second-quarter TV, Internet and mobile-phone subscriber growth is improving compared with a year earlier, while the costs to lure customers is cutting into profits.
The company expects to report that 500,000 new mobile-phone subscribers signed up for contracts during the quarter. That compares with 296,000 a year earlier. While wireless profit margins will be similar to the first quarter, overall margins will decline compared with the second quarter of 2012 because of “customer additions and investments in new growth opportunities,” it said.
AT&T, which has Akron operations, continues to expect revenue growth in 2013 of more than 2 percent, it said. The company is counting on video and Internet service in its landline and wireless divisions to fuel growth as the traditional phone business subsides.
Compiled from staff and wire reports