Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Tuesday, May 20, 2008 Business Briefly: Nigerian airline signs deal for 747-8 jets The Boeing Co. and Arik Air of Nigeria signed on Monday a tentative purchase agreement for three 747-8 passenger planes and seven 737s. Boeing has only one commercial customer for the revamped passenger version of its 747 jumbo jet. In December 2006, Lufthansa ordered 20 747-8 passenger planes. The freighter version of the jet has continued to do well. Flyers dissatisfied with airline service Passengers are more dissatisfied with airlines' customer service than they have been in years -- and at a time when carriers are charging more and more for tickets and services. An annual survey being released Tuesday by the University of Michigan found customers giving airlines the worst grades since 2001, with the industry's overall scores dropping for the third straight year. United Airlines and US Airways Group Inc., which are in talks to potentially combine into a single carrier, finished next-to-last and last, respectively, in the university's American Customer Satisfaction Index. A familiar bright spot in the results was Southwest Airlines Co., which led the industry in passenger satisfaction for the 15th consecutive year. Chrysler continues gasoline deal Chrysler is extending its offer to subsidize gasoline prices for another month. The deal caps gas at $2.99 per gallon, with Chrysler paying the rest for three years or 36,000 miles. It was to expire June 2, but now will go through July 7. Chrysler LLC Vice Chairman and President Jim Press said Monday the deal has resonated with consumers and raised sales leads by 25 percent since it was announced 12 days ago. Boeing starts 737 Business Jet Boeing has begun work on the first Boeing Business Jet 3, a new, larger business jet based on the next-generation 737-900ER (extended range), which entered commercial service and was certified by the U.S. Federal Aviation Administration in April 2007. The jet has 1,120 square feet of floor space. Americans worry about retirement Americans worry that inflation and the rising cost of health care are increasing the risk that they will run out of money in retirement, according to a study released Monday. The survey by the Society of Actuaries found that people already retired were most worried about inflation and affording long-term care. T-bill rates rise in Monday auction The Treasury Department auctioned three-month bills Monday at a discount rate of 1.855 percent, up from 1.8 percent last week. Six-month bills were auctioned at a discount rate of 1.885 percent, up from 1.85 percent last week. For a $10,000 bill, the three-month price was $9,953.11 while a six-month bill sold for $9,904.70. That equals an annualized return of 1.89 percent on three-month bills and 1.93 percent on six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 2.07 percent last week from 1.94 percent the previous week. 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

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