Motorola formally breaks up into consumer, pro companies
Motorola Inc. formally split into two companies on Tuesday: one called Motorola Mobility Holdings Inc. for its consumer-oriented businesses such as cell phones, and the other, Motorola Solutions Inc., for police radios and other products targeted at professionals, government agencies and large businesses. The company has become increasingly diverse, and the breakup, which began in 2008, aims to present two simple businesses to investors rather than one complicated one.
Army orders $27.5 million in Comtech tracking system
Melville defense contractor Comtech Telecommunications Corp. says it has received new orders worth $27.5 million from the U.S. Army for a vehicle tracking and communications system that has proved valuable in the Iraq and Afghanistan wars and in domestic emergencies such as Hurricane Katrina. Comtech said it got the new orders as part of an existing Army contract for MT-2012 satellite transceivers. The Movement Tracking Systems are made by Comtech Mobile Datacom Corp., a Germantown, Md., subsidiary, and allow the military to track its vehicles and communicate with them via satellite links, even in deserts and other isolated war zones, eliminating the need for radio repeaters or other hardware.
IRS: Tax day holiday means filers get until April 18 to pay
The Internal Revenue Service kicked off the U.S. tax filing season, announcing Tuesday that taxpayers will have until April 18 to file their 2010 returns and pay their tax bills because Emancipation Day, a holiday observed in the District of Columbia, falls on April 15. The agency also said it would not be ready to process returns carrying itemized deductions until mid- to late February, because it has to reprogram its processing systems following the passage of a big tax bill at the end of 2010. Taxpayers who file extensions will have until Oct. 17 to file 2010 tax returns. Taxpayers who won't be able to file until mid-February include those claiming itemized deductions on Schedule A, higher education deductions on Form 8917, and teachers claiming a $250 deduction for classroom expenses.
Auto insurers suing Toyota
Insurance companies are suing Toyota Motor Corp. over the sudden-acceleration issues with its vehicles. The Japanese company faces lawsuits by insurers who want to recoup what they paid to cover crashes involving Toyotas. Legal experts say the insurance industry has the benefit of its own national database of accidents. Toyota has recalled more than 10 million vehicles since late 2009 and blames driver error, faulty floor mats and sticky accelerator pedals for the unintended acceleration. The insurers' lawsuits, filed in Los Angeles, claim negligence and fraud by Toyota. The automaker says the lawsuits are without merit.
Staff and Wire reports