Deal requires label to give downloads

A U.S. District Court judge approved Monday a settlement of lawsuits against the world’s second-largest music label that gives millions of consumers free song downloads to compensate them for flawed anti-piracy software on compact discs.

With the settlement, the label, Sony BMG Music Entertainment, will stop manufacturing CD software that can leave computers vulnerable to hackers. The settlement pertained to lawsuits alleging that the vulnerabilities were created by MediaMax software or XCP software.

According to terms of the deal, Sony BMG will let consumers who bought the CDs receive replacement discs without the anti-piracy technologies and will let them choose one of two incentive packages that provide cash or free music downloads.

MediaMax was loaded on 27 Sony BMG titles, including Alicia Keys’ “Unplugged” and Cassidy’s “I’m a Hustla.”

SEOUL, South Korea

Wal-Mart Stores to leave market

Wal-Mart Stores Inc. announced Monday it was withdrawing from the highly competitive South Korean retail market, agreeing to sell its 16 stores to the country’s top discount chain.

The world’s largest retailer said Shinsegae Co. would buy Wal-Mart Korea for $882 million, pending approval by South Korean regulators. Wal-Mart said the decision to withdraw was part of its global strategy.

Wal-Mart Korea, established in 1998, is a 100 percent-owned subsidiary of the U.S. retailer.

Bentonville, Ark.-based Wal-Mart’s performance in South Korea has been lackluster, with Wal-Mart Korea ranked at the bottom among five major discount store operators.

COEUR D’ALENE

Mountain West honored for loans

Mountain West Bank wrote more loans backed by the U.S. Small Business Administration in 2005 than any other community bank in the SBA’s Seattle District.

Mountain West wrote 75 loans worth $14 million dollars during the 2005 fiscal year. Bob Beck, the bank’s senior vice president and small business manager, accepted the award during a dinner in Seattle.

The SBA’s Seattle District covers nearly all of Washington state and northern Idaho.

This is the seventh year that Mountain West has been recognized by the SBA for its small-business lending activity.

Forum to address energy sources

Connect Northwest is hosting a forum in downtown Spokane on Wednesday focusing on development of sustainable energy sources.

The event, Smart Energy Development, runs from 3 to 5:30 p.m. at the Davenport Hotel. Registration is $35 at the door or $25 beforehand.

The keynote speaker will be Mossadiq S. Umedaly, CEO of Vancouver, B.C.-based Xantrex Technology. He recently wrote a report for the Canadian government on efforts in British Columbia to create a power technology cluster.

For more information, go to www.connectnw.org or call (509) 358-2110.

– Compiled from staff

and wire reports