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Selling retailers on this season's must-have toy, robotic hamsters called Zhu Zhu Pets, was like gambling millions in blackjack, said creator Russell Hornsby.


BLOOMBERG NEWS


Business Digest

Hamsters scurry out of stores

In a world full of economic indicators, the best one during the holiday season may prove to be a furry toy hamster.

Zhu Zhu Pets are the must-have hit for the holidays. They’re out of stock in lots of places, and retailers are flying in the robotic hamsters from China in a desperate attempt to replenish their store shelves.

The Zhu Zhu Pets’ cheap price — $8 to $10 at most stores — shows Americans are still focused on price and value.

Americans getting more MPG

Americans bought slightly more efficient cars and trucks in 2008 compared with a year earlier, and are expected to do so again this year, the U.S. Environmental Protection Agency said Friday.

New U.S. vehicles averaged 21 mpg in the 2008 model year, up 0.4 mpg from 2007, the EPA said.

Ameritrade sells debt of $1.25 billion

TD Ameritrade sold $1.25 billion of 3-, 5-, and 10-year debt, according to data compiled by Bloomberg.

Proceeds will be used to repay TD Ameritrade’s existing senior debt, the company said.

Nook finds a niche, sells out

Barnes & Noble Inc., the largest U.S. bookstore chain, said Nook, its device for reading digital versions of books, sold out its initial production run and won’t ship new purchases until after the holidays — the week of Jan. 4.

— From wire reports


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