Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Saturday, June 21, 2008 Frontier Financial reduces dividend Frontier Financial Corp. of Everett has reduced its third-quarter quarter dividend by two-thirds, as the bank sets aside more cash for potential loan losses. The dividend of 6 cents per share will be paid to shareholders on July 22. John Dickson, Frontier's president and chief executive, said the action was taken in light of "continuing deterioration in the housing market and the impact it is having on many of our borrowers." Frontier's shares dropped $1.39, or 13 percent, Friday to close at $8.95. Game store opens today Next Level Video Games holds its grand opening at 1913 Hewitt Ave., across from Comcast Arena in downtown Everett, from 10 a.m. to 11 p.m. today. The new business, owned by Matt Martin, buys, sells and trades video games, systems and accessories. The store also has eight TVs and systems set up for gaming and a room with four 50-inch plasma TVs for parties, tournaments and hourly gaming. More information is available at www.nextlevelvideogames.com. Shareholders OK Getty Images sale Shareholders say Getty Images Inc. can go ahead with its plan to sell itself to private equity group Hellman & Friedman of San Francisco. After taking a beating from Wall Street for two years, Getty Images, the leading provider of stock photography and video, agreed to a $2 billion buyout offer February. Seattle-based Getty's board has already approved the deal that won shareholder support with Friday's vote. In addition to paying $34 per share for Getty's nearly 60 million outstanding shares, Hellman & Friedman will also take on about $300 million in debt. United requiring minimum stays United Airlines said Friday it will start requiring minimum stays for nearly all domestic flights beginning in October. It is also raising its cheapest fares by as much as $90 one-way. The second-largest U.S. carrier said the moves are among a number of changes it is making to combat record high fuel prices. The Chicago-based airline has been among the most aggressive in the industry in pushing fares and fuel surcharges higher in recent months. Ford delays F-150 pickup introduction Ford Motor Co. says it will delay introduction of its new F-150 pickup truck by two months because of the declining market for the vehicles. The company also said Friday it expects industrywide U.S. sales this year to drop to a range of 14.7 million and 15.2 million units. The company previously had predicted 15 million to 15.4 million units. Because of that, Ford says it will cut its third-quarter production by another 50,000 vehicles. From Herald staff and news services

1. Snohomish County man dies of swine flu 2. Lynnwood bank reprimanded by government 3. Police ID make of vehicle in fatal hit-and-run 4. Armed man shot by deputies in Arlington 5. IRS joins puppy mill investigation 6. Jetty Island ready for sand castles 7. Boeing's 6-month tally: 1 net order 8. Warriors & Patriots: Many American Indians served before getting full citizenship rights 9. Movin' out 10. Marshals seize swindler's home 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Warriors looking for balance • Three Scots vying for QB slot • Jackson looks for another title • Decorated veteran continues to serve as active volunteer • City Council reviewing sign regulations • Wildcats get a peek at newcomers • Lynnwood still in rebuilding mode • Shoreline feels a kindergarten growth spurt • Leave the patriotic pyrotechnics to professionals, cities urge • Trading dollars for kilowatts New PUD energy conservation programs save ... • By John Wolcott SCBJ Editor • Record crowd at Paine Field’s General Aviation Day as FHC Celebrate ... • Celebration of aviation's history and future presented in multiple venue ... • The time is ripe for small businesses to take no prisoners • EPA proposal to regulate global-warming gases would be costly for small ... • Innovation helps the town of Forks to offset tough economy • Powering the people