Thomas the Tank Engine has been steaming along on the fictional island of Sodor since 1945, but he is finally catching up to the times. Still, the news that Mattel is ready to revamp the little British engine that could for new markets has some parents of Thomas-obsessed kids worried.

Thomas started out as the creation of British clergyman Rev. Wilbert Audry, whose goal was to come up with a story to entertain his measles-ridden son. Today, Thomas is a global kids powerhosue brand, from toys and licensed goods that expand on his popular TV series.

The Thomas brand brings in about $1 billion in retail sales annually and was a big part of the reason Mattel shelled out $680 million last year for the engine’s former owner, HIT Entertainment, which also parted ways with such beloved kid characters as Barney, Angelina Ballerina, and Bob the Builder as part of the deal.

Finally, Mattel is ready to boost the Thomas brand.Continue reading...

KitchenAid apologizes for anti-Obama tweet during presidential debate, the most-tweeted event in US political history, which saw Mitt Romney gain the upper hand on Barack Obama. Romney's anti-PBS comment on Big Bird also took over social media, while "Walmart mom" is the new soccer mom. The campaigns, judged the most negative in recent times, inspire JetBlue to offer chance to pull an Alec Baldwin and leave the country after election result.

HP warns about grim outlook, sending shares to lowest level in almost a decade.

Facebook passes one billion users with plans to charge to promote user posts, while Twitter measures brand impact with Nielsen.

Amazon now offers loans to small businesses.

American Airlines pulls 47 jets after loose-seat debacle as image suffers.

Apple rumors of smaller iPad persist as the #2 Best Global Brand earns kudos for admitting maps screw-up.Continue reading...

Most North Americans will know the Capital One campaign that always ends with the tagline, "what's in your wallet?" Now we know what's not in Capital One's wallet: $210 million, the amount of a government-imposed settlement for pressuring and deceiving card holders into buying products they could not use and did not want.

It’s the first case enacted since the Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank bill passed by Congress two years ago to protect taxpayers and strengthen the financial industry against a repeat of the 2008 crisis which cost the United States 10 million jobs and $17 trillion in household wealth.Continue reading...

BMW projected to beat Mercedes-Benz for US luxury crown.

PepsiCo reportedly mulls layoffs and salary freeze to appease Wall Street.

Kodak bankruptcy report in WSJ slams stock price.

Apple hires Adobe exec to oversee iAds, threatens to sue company behind Steve Jobs doll and rises at Foxconn's expense.

Australia's Commonwealth Bank crowdsources customer ideas.

Arm & Hammer ordered to pull TV commercial criticizing cat litter competitor.

Audi's China sales outstrip Germany.

Boeing closes premier factory in Wichita.

Burberry is now the most popular luxury brand on Facebook, as YouTube, MTV and Coca-Cola lead in FB engagement.Continue reading...

Alec Baldwin quits Twitter following American Airlines row.

AstraZeneca slashes U.S. sales force.

BP faces more citations in oil spill.

Boeing hopes for easing of NLRB dispute after machinists ratify contract as it nears deal with Southwest for jet purchase and FedEx signals a big order.

Burger King not a hit with parents, survey says.

CVS/pharmacy debuts mobile shopping platform for smartphone users.

Chick-Fil-A ups commitment to college football.Continue reading...

After American Airlines threw him off a flight today for refusing to stop playing Words With Friends and turn off his iPhone, actor Alec Baldwin tweeted this photo with the hashtag, #theresalwaysunited. Below, see how the saga unfolded on Twitter.Continue reading...

On September 7th, Ben & Jerry's announced the impending release of a limited edition ice cream flavor — Schweddy Balls.

A punning reference to a Saturday Night Live skit starring Alec Baldwin, the suggestive name quickly attracted the ire of conservative groups such as the American Family Association.

Now, some supermarkets are reportedly bowing to the pressure and pulling the Unilever-owned ice cream maker's latest controversial stunt flavor, as AP and CBS are reporting.

Disney sees Lion King 3-D dominate weekend box office.

Netflix separates movie-streaming and DVD-delivery services, renames DVD biz Qwikster; CEO says he "messed up."

AT&T and Coca-Cola set out to reinvent web audience measurement as Coke varies its bottle sizes.

Alfa Romeo delays U.S. return, spooking Fiat dealers who are counting on selling the brand.

Airbus raises forecast for aircraft demand.

AP launches mobile version of Sunday newspaper FSIs.

Blackstone teams up with Prestige Brands on GlaxoSmithKline unit bid.Continue reading...