News

Where Pogs and Pokemon once ruled, HitClipshttp://www.tigertoys.com/newhitclips/">HitClips; have taken over. HitClips are hot. So hot, in fact, that Hasbro">http://www.hasbro.com">Hasbro Incorporated's Tiger Electronics division has sold more than 20 million of them at $3.99 each. That's $80 million gross on a single product, a figure that probably no high-end audio company has ever reached.

By several common measures, the American economy appears to be emerging from its first recession in a decade. On Friday, April 26, the US Commerce Department reported economic growth of 5.8% (annual rate) for the first quarter. Gross domestic product (GDP), generally considered the broadest indicator of the economy's health, was the strongest since the final quarter of 1999. The 5.8% rate is especially encouraging in view of the 1.7% rate during the fourth quarter of 2001. The US Labor Department also reported a decline in first-time applications for unemployment benefits during the last week of April.

Record companies are having a tough time making new friends these days as they toy with ways to restrict consumer use and distribution of their products. Amid sliding sales, mediocre new releases, high prices, and failed attempts at implementing restricted-use CD technology, the big labels clearly need some advice on getting back on track.