TJX is seeking buyer for money-losing Bob's Stores

TJX Cos., the owner of the T.J. Maxx and Marshalls discount chains, is seeking a buyer for its money-losing Bob's Stores unit, according to people with knowledge of the sale process. Potential buyers include Versa Capital Management Inc., the Philadelphia private equity firm that specializes in turnarounds, one of the people said. Framingham-based TJX and its adviser, Peter J. Solomon Co., are looking for a buyer that will keep Bob's stores open, the people said. TJX chief executive Carol Meyrowitz is selling the division after it lost money for four straight years. Former chief executive Edmond English bought the Meriden, Conn., company out of bankruptcy for $59 million in 2003. A TJX spokeswoman declined to comment. (Bloomberg)

Scientific equipment company Thermo Fisher Scientific Inc., of Waltham, said it has acquired equipment maker FiberLite Centrifuge Inc., expanding its product line with FiberLite's patent portfolio. Terms were not disclosed. Santa Clara, Calif.-based FiberLite, which had revenue of about $7 million in 2007, will be integrated into Thermo Fisher's laboratory products and services segment. (AP)

A lawyer for the maker of Bratz dolls sought a mistrial in a copyright infringement case brought by Mattel Inc. after a juror was dismissed for allegedly making racial slurs. The federal judge in the closely watched intellectual property dispute halted the presentation of evidence for the day while he questioned jurors about the comments, said attorney Thomas Nolan, who represents MGA Entertainment Inc., the maker of Bratz. The judge then set a hearing for Aug. 4 to consider arguments to "determine whether or not the trial should proceed," Nolan said. The dismissed juror made the remark about MGA chief executive Isaac Larian during deliberations in the first phase of the federal trial in Riverside, Calif., according to a court document. (AP)

The Senate cleared the last hurdle to passing a housing rescue aimed at sparing hundreds of thousands of homeowners from foreclosure and bolstering troubled mortgage giants Fannie Mae and Freddie Mac. The 80-13 test vote showed broad support for the election-year package and put it on track to pass the Senate by today. The White House says President Bush will sign it, having earlier dropped a threat to veto it over $3.9 billion in neighborhood grants. The bill - regarded as the most significant housing legislation in a generation - is designed to help an estimated 400,000 homeowners escape foreclosure by letting them refinance into more affordable loans backed by the Federal Housing Administration. (AP)

Chrysler LLC said its financial arm will get out of the auto leasing business by the end of the month because economic conditions have made leasing more expensive than buying, for both consumers and the company. The move comes as Chrysler Financial is in the process of renewing a $30 billion credit line with banks amid a startling drop in values for leased trucks and sport utility vehicles that are coming back to automakers as leases end. Chrysler vice chairman and president Jim Press said the company wants to allocate limited resources to retail incentives and financing, which make up 80 percent of the market, instead of leasing, which is 20 percent of the US market. (AP)

Federal regulators formally approved the merger of the nation's only two satellite radio operators, ending a 16-month-long drama closely watched by Washington and Wall Street. Sirius Satellite Radio Inc.'s $3.3 billion buyout of XM Satellite Radio Holdings Inc. will mean 18 million-plus subscribers will be able to receive programming from both services. Executives say it will mean huge cost savings that will lead to a first-ever profit for the relatively new industry. The Federal Communications Commission voted 3-2 to approve the buyout, with the tie-breaking vote coming from Republican commissioner Deborah Taylor Tate. (AP)