Legal

The red ink continues to flow at the U.S. Postal Service, which reported a net loss of $5.1 billion for the 2011 fiscal year. That loss was well below the worst-case scenario the Postal Service had projected earlier this year, but that owes to an act of Congress that postponed a statutory obligation to prefund retiree health benefits.

Skechers is bracing for a potential multimillion dollar settlement with the Federal Trade Commission regarding advertising of its Shape-Ups toning footwear. In its quarterly filing with the Securities and Exchange Commission, the footwear company acknowledged that the toning category, including Shape-Ups, have come under significant scrutiny.

Adidas closed down all its websites last week after what it called a “sophisticated and criminal cyber attack.” The company doesn’t believe that any consumer data was impacted, but plans to continue its investigation.

The Marketplace Fairness Act was introduced today by Sens. Mike Enzi (R-Wyo.), Dick Durbin (D-Ill.), Lamar Alexander (R-Tenn.) and Tim Johnson (D-S.D.).

The days of tax-free internet shopping may soon be coming to an abrupt end. Two Republican senators are preparing to introduce new legislation that would allow states to force Amazon.com and other out-of-state online retailers to collect sales taxes.

A second wave of activism sparked by Occupy Wall Street is here. As supporters move to raise money to help the movement through the winter, others are boycotting businesses perceived to show sympathy — or not.

Last month, Urban Outfitters drew threats of legal action from the Navajo Nation for advertising the "Navajo Hipster Panty." To avoid that potential liability, Urban Outfitters recently changed the names of all 21 of the products it had been calling "Navajo." But fellow retailer Forever 21 doesn't seem to share Urban Outfitters' concern. While a search for "Navajo" on its website turns up no results, a little digging reveals at least a half-dozen items that have the Navajo trademark in the title.

A bipartisan group of senators introduced legislation yesterday that would undertake a sweeping restructuring of the U.S. Postal Service, aiming to put the ailing organization back on the path to financial stability.

Syms, the discount department store chain which operates 25 Syms and 21 Filene's Basement stores, filed for Chapter 11 bankruptcy protection yesterday and said it would shut down all of its stores by the end of January 2012.