Business Briefs: Mercury General, Mattel, Real Mex Restaurants, Gemstar

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– Mercury General Corp.

doubled its estimate of losses caused by Hurricane Wilma due to the total number of claims already reported and the number of claims still anticipated to be reported. The L.A.-based insurer now expects fourth-quarter losses of approximately $24 million, up from its original estimate of $12 million that was based on “very preliminary data” as reported on Oct. 31.


Mercury said it believes that the majority of the claims have now been reported and that a substantial number of these claims have been settled.



– Mattel Inc.

said about 614,000 Laugh & Learn, Fisher-Price brand musical chairs were being voluntarily recalled because they pose a strangulation hazard to young children. Fisher-Price had received three reports of children getting their necks lodged between the seatback and the side table of the toy, including one report of a child receiving a welt on the neck, according to a statement from the U.S. Consumer Product Safety Commission. The toys were sold from May through January and retail for about $27.


Fisher-Price will provide a free repair kit that contains a plastic piece that connects in between the seatback and side table, preventing the possibility of entrapment.



– Real Mex Restaurants Inc.

said it plans to appoint financial advisors to assist the company in exploring and evaluating strategic alternatives. Such “strategic alternatives” usually refer to the company mulling putting itself up for sale. Cypress-based Real Mex operates a number of restaurants with locations throughout Los Angeles County, including Acapulco, El Torito and Chevys.



– Gemstar-TV Guide International Inc.

said its TV Guide Channel is offering its program lineup to the international marketplace for the first time via distributor CABLEready, which will now handle worldwide sales for nearly 100 hours of programming. Norwalk, Conn.-based CABLEready will handle international sales for numerous programs, including the channel’s Red Carpet coverage and the home makeover show “Ready, Set, Change!”

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