Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Wednesday, June 25, 2008 Seattle firm buys building in Everett A Seattle investment fund has paid $14.75 million for a new industrial building in Everett. The Columbia Pacific Opportunity Fund is buying the class A building, which has 217,700 square feet. It's situated on 11.5 acres at 6617 Associated Blvd. near Merrill Creek Parkway not from the Boeing Co. CB Richard Ellis will handle management of the property, according to Mesa West Capital, which is providing money for the acquisition and leasing costs. Seattle drivers dubbed greenest Puget Sound area drivers are the "greenest" in the nation, according to a survey in the new issue of Men's Health magazine. The publication ranked Seattle No. 1 when it looked at 2005 and 2006 data on gas consumption, miles traveled, air quality, vehicle efficiency and mass-transit usage. Portland, Ore., and Spokane also ranked in the top 10. Shoppers still not buying Shoppers remain tight-fisted with their spending even though the majority have received their stimulus checks, according to figures released Tuesday by the International Council of Shopping Centers. For the week ended Saturday, same-store sales fell 0.6 percent from the prior week. On a year-over-year basis, same-store sales rose 2.2 percent, a bit stronger than the prior week, according to the association's weekly index, which tracks sales of about 40 retailers. Same-store sales are sales at stores open at least a year and are considered a key indicator of a retailer's health. New iPhone costs $173 The cheapest model of Apple Inc.'s new iPhone, which is about to go on sale for $199 in the U.S., costs about $173 to make, according to an estimate by research firm iSuppli Corp. The phone, which updates last year's model with faster Internet speeds and an improved navigation feature, goes on sale on July 11. The retail price is subsidized by the exclusive carrier, AT&T Inc., which will get its money back with monthly service fees. ISuppli estimates that AT&T will subsidize each phone by $300. Countrywide deal almost done Bank of America Corp.'s takeover of Countrywide Financial Corp. could be wrapped up as early as next week, but first it must clear one last hurdle -- getting the OK from the struggling mortgage lender's shareholders. Countrywide shareholders are scheduled to vote on the proposed buyout Wednesday morning during a special meeting at the lender's headquarters in Calabasas, Calif. The all-stock deal, valued in January at about $4 billion, is now valued at around $2.8 billion, reflecting a decline in Bank of America's stock prices. American adds Internet flights American Airlines says customers will be able to test in-flight Internet access on two flights beginning Wednesday, with broader service expected to begin in the following couple weeks. American's technology partner, Aircell LLC, will charge $9.95 to $12.95 for Internet service, depending on flight length. From Herald staff and news services

1. Recycling a house: Everett home goes to make new memories 2. A year after plane crash, pain still fresh for families 3. McDonalds' deep fryer flares flames in Lynnwood 4. Pumped, preened and primed for the public 5. Driver runs but can't escape trooper 6. Speaking of Paris Hilton ... 7. Everett man's legacy will live on in Lynden 8. Bart knows his fight is tough 9. Cold Case: 'There was no reason' for death 10. Crews respond to power outages 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Cedarcrest's running game, defense stop King's • Shorewood beats Glacier Peak in conference opener • Fernandez named Archbishop boys soccer coach • Team Peggy comes out in force at ALS walk • King's girls poised for threepeat in Pasco • A lifetime together in Lynnwood • The battle over Cascade's student paper • Mill Creek celebrates 25th anniversary • Public hearings scheduled on school closures • Paine Field airline service strongly supported by 71 percent of web surv ... • Verizon launches FiOS TV in Washington State • Leisure Time Events - September 2008 • September 2008 • State needs to establish north county campus to meet growing technology ... • Future software programs may be based online • Visit two unusual Paine Field aviation museums for historic and futurist ... • Mothers launch Kids ‘N’ Clay pottery studio to provide children with cre ...