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Northwest profits taking off; also: Famous Dave’s closing Chicago restaurant, and U.S. Senate scrutinizes medical device ads

Northwest Airlines’ appears cleared for profitability. Despite the record-high oil prices over the summer, a company official said the airline expects between $60 million and $100 million in profits for the third quarter, the Associated Press reports. All of those fare increases and luggage fees, along with some fuel hedging, are helping to turn the airlines’ red ink into black, the Star Tribune reports.

Famous Dave’s is closing a restaurant in Chicago this month, the Minnetonka-based company says. “Anyone watching the headlines concerning our industry, food costs and other economic factors recognizes that this remains a very difficult operating environment,” CEO Christopher O’Donnell said in a statement. The Chicago restaurant is one of 48 owned by the company. It expects to open 18 new restaurants this year.

A U.S. Senate committee is investigating medical device companies’ advertising. Unlike pharmaceutical companies, medical device-makers aren’t required to disclose risks at the end of TV commercials. The Motley Fool writes that a ban on TV ads would have little effect on companies like Medtronic and Boston Scientific because television ads aren’t particularly effective for selling their devices.

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