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Tuesday, March 30, 2004

Judge throws out Pooh lawsuit against Disney


Business digest

Staff and wire reports

LOS ANGELES - A judge threw out a lawsuit against the Walt Disney Co. over Winnie the Pooh merchandise royalties, ruling Monday that the owner of those rights unlawfully obtained confidential documents from Disney offices and trash.

Superior Court Judge Charles W. McCoy Jr. dismissed the suit with prejudice, meaning Pooh rights owner Stephen Slesinger Inc. cannot sue again on the claim.

The decision, if it survives appeal, brings to a close a 13-year legal bid by SSI, which sought to recover millions of dollars it claims Disney owes it for Pooh-related merchandise and royalties. Disney has claimed those items were not covered in its 1983 licensing agreement with SSI.

Rates mixed in Treasury bill auction

WASHINGTON - Interest rates on short-term Treasury securities were mixed in Monday's auction.

The Treasury Department sold $18 billion in three-month bills at a discount rate of 0.945 percent, up from 0.930 percent last week. An additional $15 billion was sold in six-month bills at a rate of 0.990 percent, unchanged from the previous week.

The three-month rate was the highest since Sept. 2, 2003, when the bills sold for 0.970 percent.

P&G executive named to Gap directors board

Jorge Montoya, president of global snacks and beverages and Latin America for Procter & Gamble Co., has been named to the board of directors at Gap Inc., the company said. Under his leadership since 1985, P&G's Latin American businesses have increased revenue sixfold, the company said.




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