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JumpStart Dual makes retail debut

BY Allison Cerra

AVENEL, N.J. Digipower, a division of Mizco International, has introduced a portable AC adapter with a built–in rechargeable battery back-up.

The JumpStart Dual, available at retailers nationwide for $49.99, provides mobile device enthusiasts with two powerful products in one solution. Designed to support mobile phones, MP3 and other portable devices, JumpStart Dual comes with two USB ports for simultaneously charging two devices, built-in short circuit, over-charge, and temperature protection; a two-step LED display that shows both charge status and battery life; power on/light function, an emergency flashlight, and a 5V USB output.

“JumpStart Dual combines power and innovation in one portable solution and that’s the philosophy that drives our entire product development program,” said Digipower president Maurice Mizrahi. “There is no other portable power device currently on the market that combines an AC adapter with a built-in rechargeable battery back-up. JumpStart Dual is designed to meet all of the power requirements of today’s power hungry consumers.”

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Stock repurchase program at CVS Caremark approved

BY Allison Cerra

WOONSOCKET, R.I. CVS Caremark has announced that its board of directors has approved a new share repurchase program for up to $2 billion of its outstanding common stock.

The share repurchase authorization expires at the end of 2011 and permits the company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions and/or other derivative transactions.

The company also stated that during second quarter 2010 it repurchased approximately 16.7 million shares of common stock for approximately $613 million, completing the $2 billion repurchase program authorized in November 2009.

Dave Denton, EVP and CFO of CVS Caremark, stated, “We’re very pleased with the board’s approval of this new share repurchase program and believe it reflects well-placed confidence in the future growth of CVS Caremark’s business and an ongoing commitment to increase shareholder value. We’re very focused on the efficient allocation of capital and we will continue to invest in internal projects that meet our return hurdles and use the rest of our remaining free cash flow to increase shareholder value.”

Denton continued, “Over the next five years, we expect to generate significantly more free cash flow than what we’ve generated in the past five years, and we expect to use the majority of that free cash flow in the near-term to enhance shareholder returns through dividends and share repurchases. We intend to continue to review our dividend annually and do share repurchases that are value enhancing.”

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Bartell launches contest in line with anniversary celebration

BY Alaric DeArment

SEATTLE As it gears up to celebrate its 120th anniversary this year, Bartell Drugs is launching a “Magical History Tour” contest at its stores, the regional retail pharmacy chain said Monday.

Bartell, the oldest operating retail pharmacy chain in the country, is collaborating with HistoryLink.org and The Seattle Times’ “Newspapers in Education” program. The contest will focus on facts about the history of the Puget Sound area, the section of Washington state that includes the area around Seattle and King, Snohomish and Pierce counties.

Through Aug. 23, a new clue will be released each Monday at HistoryLink.org/Bart and in the Monday edition of The Seattle Times. “Bart,” Bartell’s historic delivery truck character, will provide clues to historical sites in the Puget Sound area where answers can be found. Contestants submitting weekly answers will be entered into drawings for prizes, which will include a family pass to Seattle’s Woodland Park Zoo.

“This fun activity is both an opportunity to learn something about our area and a way of getting the family out and about this summer in an enjoyable way,” Bartell chairman and CEO George Bartell said.

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