Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Saturday, February 23, 2008 Business briefs Eden attempts to boost stock Eden Bioscience Corp. completed a 1-for-3 reverse stock split Friday, reducing its total shares from more than 8 million to just 2.7 million. The move is designed to increase the Bothell company's stock trading price, which has stayed below $1 a share for months. If the biotechnology company's shares don't rise above that level, and stay at $1 or higher for 10 straight trading days, its stock will be delisted from the exchange. Investors sue Yahoo over Microsoft offer Two Detroit pension funds have sued Yahoo Inc. and its board of directors, saying they breached their duties to shareholders in trying to thwart a takeover by Microsoft Corp. According to the lawsuit, Yahoo's board is pursuing "value-destructive" other deals in an effort to fight off Microsoft, which on Feb. 1 offered a takeover bid of $31 per share, 62 percent higher than Yahoo's previous closing price. Bankers sentenced for fraud with Enron Three British bankers were sentenced Friday to just over three years in prison for their roles in a fraudulent scheme with former Enron Chief Financial Officer Andrew Fastow, and they're hoping to serve some of that time back home. A federal judge sentenced David Bermingham, Giles Darby and Gary Mulgrew to 37 months each. They pleaded guilty last year to one count of wire fraud. Encrypted data can easily be hacked Want to break into a computer's encrypted hard drive? Just blast the machine's memory chip with a burst of cold air. That's the conclusion of new research out of Princeton University demonstrating a novel, low-tech way hackers can access even the most well-protected computers, provided they have physical access to the machines. UAW, GM move to shift retiree costs The United Auto Workers and General Motors Corp. have taken a big legal step toward shifting billions of dollars in retiree health care costs from the automaker to an independent trust fund. The union and attorneys representing retirees sued GM this week in an effort to get court approval of the change. The lawsuit is not a hostile action, as GM joined the UAW and retirees in filing. FDA approves drug for breast cancer A Genentech drug received federal approval on Friday to treat breast cancer, a surprise decision that could represent a shift in standards for assessing the effectiveness of cancer medicines. Going against the recommendation of its advisory panel, the Food and Drug Administration judged the effectiveness of Avastin based on measurements of tumor growth, not patient survival. From Herald staff and news services

1. Emory’s owner fears fire was arson 2. Monroe honking case makes it to state Supreme Court 3. Vatican ponders the souls in space 4. 81 veterans' names, 81 meaningful lives honored in Snohomish 5. Hope dims that Olympics will boost region 6. Student hit in crosswalk to return 7. Smokey Point to celebrate end of roadwork 8. Death on Edmonds waterfront ruled a suicide 9. Help for young moms may continue 10. Semifinal slate sealed on ‘Dancing With Stars’ 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Bazaar Fever • Hawks proud of historic season • Olson always put Edmonds first • Honoring student veterans • ‘Wheedle' author comes to Lynnwood bookshop • Mavs build early lead en route to easy win • Prep football games of the week (state playoffs) • Tears of laughter, tears of grief • Death on Edmonds beach likely a suicide • Boeing will build, flight test and deliver 787s in South Carolina to spe ... • Snohomish County EDC promoting job growth in key industry clusters • $4 million grant to advance brain tumor research has Everett links • Providence medical center construction tops off its 12-story steel frame ... • Tulalip affordable housing project to be financed by KeyBank, Raymond Ja ... • Arlington's Lak of Ink has a growing following for Luke Kooyman's creati ... • Bank of the Northwest formed • Cascade Bank earns $1.6 million