The Coast Distribution System, based in Morgan Hill, announced
that the Company’s board of directors has suspended the quarterly
cash dividend, effective immediately, due to the impact of
continued weak economic conditions, particularly within the
recreational vehicle market.
Coast suspends dividend
The Coast Distribution System, based in Morgan Hill, announced that the Company’s board of directors has suspended the quarterly cash dividend, effective immediately, due to the impact of continued weak economic conditions, particularly within the recreational vehicle market.
Coast, a supplier of aftermarket replacement parts, accessories and supplies for the recreational vehicle (RV), marine and outdoor recreation industries, reported the dividend suspension will save the company approximately $535,000 annually. The suspension is among several initiatives in place to manage Coast’s cash reserves during what appears to be the most severe decline for the RV industry in decades. According to the Recreational Vehicle Industry Association, RV shipments have declined 24.6 percent year-over-year for the first nine months of 2008.
Best Buy joins with Guns N’ Roses
Among all the rock fans ruminating about the 14-year wait for the new Guns N’ Roses album, you won’t catch the bosses at Best Buy complaining. Best Buy hopes people will rush in to buy “Chinese Democracy” and maybe pick up something pricier as well, like a new flat-screen TV or digital camera.
It’s a ploy increasingly used by big-box retailers. Minneapolis-based Target is the exclusive seller of Christina Aguilera’s first greatest-hits CD, which hit the Top 10 recently. Wal-Mart enjoyed even hotter sales of AC/DC’s new “Black Ice” album, which has sold 1.5 million copies via its stores and Web site only.
To get an exclusive deal with the Eagles last year, Wal-Mart reportedly paid the band $30 million upfront – nonrefundable – for 3 million copies of its comeback CD “Long Road Out of Eden.”
New media player at Blockbuster
Blockbuster and 2Wire introduced the 2Wire MediaPoint digital media player, an easy-to-use, on-demand video solution that offers movie fans instant access through their television sets to Blockbuster Ondemand content, including thousands of titles from the latest movie releases to classic favorites.
For a limited time, the MediaPoint digital media player is available free with the advance rental of 25 ondemand movies. After the initial 25 rentals, movies are available for as little as $1.99 each. The players will begin shipping in time for the holiday season.
