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
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
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