Quaker State Corp

Hasbro Inc., the world's second-largest toy maker, on Monday named Quaker State Corp. chief Herbert Baum, known for his track record in selling consumer products, for its new positions of president and chief operating officer. Baum, 62, will join Hasbro after Quaker State's merger with Pennzoil Co.'s car products business is completed later this month, Hasbro said. He will report to Hasbro Chief Executive and Chairman Alan Hassenfeld, 50. Pawtucket, R.I.

Just a few years ago, Quaker State Corp. saw itself on a slippery slope. The motor oil company had surrendered its lead in the industry, dividends were more than the company could afford and U.S. drivers were changing their oil less frequently. So Quaker State decided it needed its own oil business change. With a new chief executive, new headquarters and new products, the company is now heating up the industry. The company halted the downward spiral from the No.

The Agoura Hills-based Heritage Life Insurance Co. is cleared to acquire North Carolina-based Sturdivant Life Insurance Co., the North Carolina Department of Insurance has ruled. Terms of the acquisition were not disclosed. Heritage is a subsidiary of the Quaker State Corp., and chiefly underwrites credit life insurance policies which it sells through automobile dealerships. The company is part of the Heritage Insurance Group, which collected $76.4 million in premiums last year.

Ashland Inc. settled Federal Trade Commission charges that it misled consumers with ads touting the protection provided by the company's Valvoline TM8 engine treatment. The Russell, Ky.-based company agreed to limit advertising claims about the oil additive's ability to reduce engine-part wear. The settlement does not include a fine or an admission of wrongdoing. In July, Quaker State Corp.