Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Saturday, May 17, 2008 Kansas engineers challenge SPEEA The union that represents Boeing Co. engineers faces a challenge at Spirit AeroSystems in Wichita, Kan. The Society of Professional Engineering Employees in Aerospace represents 2,400 Spirit professional and technical workers, who will vote June 24 on whether to oust the union. SPEEA is due to negotiate wage and benefit increases for the workers this summer. The union also will begin contract talks with Boeing this fall. Bothell biotech in SEC probe The Securities and Exchange Commission has launched a formal investigation of Bothell's CellCyte Genetics, according to the company. The probe is looking at unspecified issues related to CellCyte's financial filings. CellCyte shares soared last year, and then fell sharply at the beginning of this year. That triggered three shareholder lawsuits. Tumors shrink in drug tests Clinical trial data released by Seattle Genetics of Bothell shows the majority of lymphoma patients testing the biotechnology firm's SGN-35 drug candidate have seen tumors shrink. The phase 1 trial results indicate that among 28 patients receiving SGN-35, nine saw partial remissions, while 11 others saw their tumor growth stabilize. Higher doses of the drug seemed to be more effective. Helix BioMediz loses $1.27 million Bothell-based Helix BioMedix Inc., a developer of wound-healing proteins called peptides, said it lost $1.27 million, or 5 cents a share, during the first quarter. Revenue totaled $240,000, a huge increase from the $58,000 made in the same period last year. As of March 31, the company had more than $3.1 million on hand. More homes built in April Construction of new homes increased nationwide by the biggest percentage in more than two years in April. Analysts, however, played down the increase, noting that all the strength came from the volatile apartment sector. The Commerce Department reported Friday that housing construction rose by 8.2 percent in April. Paulson says U.S. markets calmer Treasury Secretary Henry Paulson said Friday that financial markets are "considerably calmer" now than two months ago. He predicted the economy will be rebounding later this year. Paulson said the drag from housing, which he characterized as still the biggest risk to the economy, will soon be lessened by the government's stimulus payments. In his remarks, Paulson never used the word recession, although some economists believe we're in one. From Herald staff and news services

1. Principal of Christian school in Arlington charged with child rape 2. 5 moms battle Lakewood Elementary School fire 3. Couple fight back against armed home invader 4. Traffic detoured around motorcycle accident in Lake Stevens 5. Teen burglar's own snapshot may help police catch him 6. Mill Creek teens robbed at gunpoint 7. More glory for former Snohomish High basketball coach 8. Local Briefly: Search-and-rescue teams look for hiker 9. Boeing stock plummets on analyst's downgrade 10. Transit driver has dangerous attitude 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Tour de Jour • Racing to help the helpless • It's coming: Make way for the new City Hall • They won't take it anymore • Meet the new Gateway principal • School activity buses could be restored • Mountlake Terrace hires new police chief • Council prefers a back seat in green movement • Students of the month • Arlington Fly-In marks 40th anniversary this year • Melody Biringer a wide-ranging entrepreneur • County home market offers low rates, lower prices, wide variety of prope ... • Good investments may be boring but profitable • Fryelands industrial park growing in Monroe • Out of the Blue Aviation expands flight training • Paul Allen’s rare Flying Heritage Collection becomes latest aviation att ... • Warbird's history keeper