McD's tests Speedpass

        McDonald's is testing an electronic-payment system in which customers can pay for their food by waving a tiny, barrel-shaped device at the cash register or drive-through window.

        Each Speedpass key is linked to a credit card of the customer's choice, or to a debit card linked to a credit card.

        Speedpass was developed by Mobil three years ago for use at its gas pumps. McDonald's is its first major customer.
       

Borders earnings low

        Book and music retailer Borders Group Inc. on Friday warned its fourth-quarter earnings would miss Wall Street's expectations because of soft holiday sales and the costs of increased promotions and said it plans to sell its underperforming toy store unit. Its stock price tumbled more than 7 percent, to 93.8 cents, to close at $12 Friday on the New York Stock Exchange.

        The nation's second-biggest bookstore chain said its latest operating earnings will fall about 10 percent short of analysts' estimates.
       

Mercata to log off

        Mercata, the online retailer that pioneered “group buying” and was backed by Microsoft co-founder Paul Allen, is closing at the end of the month.

        Chief executive Tom Van Horn made the announcement Thursday, a day after Mercata canceled an initial public offering aimed at raising $100 million with Van Horn citing the “unreceptive market lately for e-commerce IPOs.”
       

NPG plans layoffs

        New Process Gear will lay off 1,150 workers for a week because of temporary shutdowns at auto assembly plants operated by DaimlerChrysler, NPG's major customer and co-owner.

        The layoffs, which affect about a third of NPG's 3,700 employees, mark the fourth time in three months the company has laid off workers because of slipping car and truck sales. Company officials hinted Friday that indefinite layoffs may follow if sales do not soon improve.
       

MarchFirst trims staff

        Internet consulting company MarchFirst has begun another round of layoffs.

        Kelly Miller, a spokeswoman for the Chicago-based company, confirmed the layoffs Friday but declined to give further details. In November, MarchFirst laid off approximately 1,000 workers, or about a tenth of its work force.
       

Lernout will fire 1,200

        Lernout & Hauspie Speech Products NV said it will fire about 1,200 workers, or a fifth of its staff, to reduce costs after the company gained bankruptcy protection in Belgium. The speech-recognition software maker today was granted the “concordaat” by the Ieper commercial court in Belgium, which will protect it from creditors until June 30.

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