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Philips introduces new LED light bulb

BY Allison Cerra

PHILADELPHIA — Philips is slated to launch a new LED light bulb, which will premiere at the LightFair International trade show.

Philips EnduraLED A21 17-watt bulb uses Philips’ high-power, next-generation Luxeon LEDs and is designed to replace a 75-watt incandescent bulb, while reducing energy consumption by 80% and lasting 25 times longer, the company said. The light bulb also was developed to meet or exceed Energy Star qualifications for an LED-based replacement.

Available during the fourth quarter 2011, the manufacturer’s suggested retail price for consumers has not yet been finalized but is expected to be in the range of $40 to $45.

"We continue to test the boundaries of LED innovation with exciting products that provide energy efficiency, ambiance and extraordinary reliability," said Ed Crawford, general manager of lamps for Philips Lighting North America. "Once again we have demonstrated that consumers do not have to wait for quality alternatives to the incandescent or to sacrifice the soft white light they have become accustomed to because LED can deliver all the benefits without compromising quality."

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Deloitte Consumer Spending Index reports sharp decline

BY Allison Cerra

NEW YORK — The Deloitte Consumer Spending Index, which tracks consumer cash flow as an indicator of future consumer spending, fell to 3.16% from an upwardly revised gain of 3.78% a month ago.

The index showed the largest single month decline since November 2007.

Deloitte said that the index, which is comprised of four components — including tax burden, initial unemployment claims, real wages and real home prices — saw a drop due to "a sharp deterioration in real wages coupled with a rise in jobless claims."

"Growth in consumers’ disposable income recently accelerated following a cut in Social Security taxes, giving consumers the means to spend," Deloitte’s chief economist and author of the monthly index Carl Steidtmann said. "However, rising food and energy prices have started to undermine consumers’ purchasing power, which may continue to lose ground to inflation in the months ahead, particularly if unemployment claims head higher."

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Kodak’s board elects Augustin Melendez as VP

BY Allison Cerra

ROCHESTER, N.Y. — Eastman Kodak Co.’s board of directors has named a new VP.

The company said that Augustin Melendez will take on his new role immediately. Since joining Kodak in 2000, Melendez has held multiple senior leadership roles in human resources. He currently serves as chief diversity and community affairs officer and human resources director for Kodak’s graphic communications group.

Melendez holds a B.S. in business administration and economics and a B.A. in speech and communications from Wagner College, as well as an M.S. in human resources and development from St. John Fisher College.

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