- EX-WAL-MART EXEC RULING: Former Wal-Mart Stores Inc. vice chairman Tom Coughlin, who pleaded guilty to stealing from the retailer in 2006, got a too-lenient sentence of house arrest, a federal appeals court ruled Tuesday. Coughlin might now face prison. The panel voted 2-to-1 to reverse the trial judge's sentence of 27 months of home confinement and five years probation, in addition to fines, saying Coughlin didn't prove that his medical condition, including heart problems and diabetes, justified a nonprison sentence. The U.S. Attorney's Office for the Western District of Arkansas appealed the punishment, which fell below federal guidelines for 27 to 33 months imprisonment. The case was sent back to U.S. District Court, where both sides can present new evidence. Coughlin pleaded guilty to six counts of wire fraud and one count of filing false tax returns after an internal Wal-Mart investigation turned up evidence he directed underlings to falsify expense reports to cover personal purchases such as custom-made cowboy boots, stole Wal-Mart gift cards for private use and took video cameras and other merchandise. Wal-Mart and Coughlin are battling over a multimillion dollar retirement package.
- ADIDAS' SOCCER DEAL: Adidas and the German Football Association (DFB) have extended their partnership until 2018, through a settlement that an arbitration court advised both parties to reach. Adidas took DFB to arbitration in March, saying it had extended the existing supplier agreement with the DFB in August 2006 until at least 2014. Under the new agreement, Adidas will remain the official outfitter of the DFB and will continue to supply the complete ranges of match, training and leisure apparel for all DFB teams.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"