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WEEK IN REVIEW
Wednesday


81 veterans' names, 81 meaningful lives honored...
USO singer's voice still charms them in Edmonds
Monroe honking case makes it to state Supreme C...
Tuesday


Fire destroys Emory's restaurant
Peggy Pritchard Olson always put Edmonds first
Camano Island burglaries spike: Is Colton back?
Monday


Tree clearing, mud slide angers Everett neighbor
Later start for school day unlikely in Marysville
Hopes for Snohomish excursion train may hinge o...
Sunday


Glacier Peak freshman overcomes jitters to win ...
Gay marriage issue can wait, say Referendum 71 ...
Cities across south Snohomish County see tax re...
Saturday


Thousands honor slain Seattle police officer Ti...
Suspect identified in Seattle police killing
Mountlake Terrace thrilled by high school's fir...
Friday


Officer Timothy Brenton. Gone, but not forgotten
Person sought in officer's killing is shot in head
Thousands to pay respects to slain Seattle poli...
Thursday


Tale of 1916 Everett Massacre retold in style o...
Reservist survived Iraq but not his return to c...
Swine flu suspected in infant’s death
 

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CONTACT THE HERALD
Mike Benbow, Business Editor
benbow@heraldnet.com
 
Published: Saturday, October 11, 2008

Business Briefly: Canadian dollar falls sharply against U.S.

The Canadian dollar posted its steepest one-day decline against the U.S. greenback Friday, dropping by 4.5 American cents. According to the Bank of Montreal's currency desk, the Canadian dollar was down 4.5 American cents in afternoon trading at 82.78 cents. Canada's currency has lost more than a quarter of its value since hitting its all-time peak of $1.103 in November after a rapid three-month rise. The Canadian dollar was last worth 83 American cents on March 16, 2005.

Wachovia fined over telemarketers

Wachovia Corp., completing a previously announced settlement, will pay an estimated $163 million to settle federal allegations that it failed to stop telemarketers from taking advantage of thousands of elderly consumers, authorities said Friday. The Wachovia case, the subject of an 18-month investigation by bank regulators, was first announced in April. Federal officials say the Charlotte, N.C.-based bank didn't act quickly enough to block telemarketers and payment processors from accessing customer accounts.

Ford saving cash, CEO Mulally says

Ford Motor Co. Chief Executive Alan Mulally said Friday that the company is focused on conserving its cash and putting restructuring plans in place as it tries to weather the credit crisis and stock market decline. Mulally said in an interview with The Associated Press that he is not worried about bankruptcy or a takeover, even as Ford's stock price hit its lowest level in 25 years. He also said the company is not in danger of running out of cash because it has available a large line of credit.

Walgreen replaces its top executive

Drugstore chain Walgreen Co. said Friday Chairman and CEO Jeffrey Rein has retired from the company after 26 years. Rein, 56, will be replaced as company chairman by Alan McNally, 62, lead director on Walgreen's board. McNally will also serve as acting CEO while the board searches for a permanent replacement. He joined the company's board in 1999 and previously served as CEO of Harris Bankcorp. The company specified no reason for Rein's departure.

Trade deficit drops in August

The U.S. trade deficit edged down in August as foreign oil imports retreated from a record high the previous month, a drop that more than offset a decline in exports. The Commerce Department said Friday the trade deficit shrank by 3.5 percent in August to $59.1 billion, the smallest imbalance since June. The deficit is expected to shrink even further in coming months as a severe economic slump in the U.S. depresses demand for oil and other imported goods.

From Herald news services

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1. Emory’s owner fears fire was arson
2. Monroe honking case makes it to state Supreme Court
3. Vatican ponders the souls in space
4. 81 veterans' names, 81 meaningful lives honored in Snohomish
5. Hope dims that Olympics will boost region
6. Student hit in crosswalk to return
7. Smokey Point to celebrate end of roadwork
8. Death on Edmonds waterfront ruled a suicide
9. Help for young moms may continue
10. Semifinal slate sealed on ‘Dancing With Stars’
Enterprise Newspaper Snohomish County Business Journal
Bazaar Fever
Hawks proud of historic season
Olson always put Edmonds first
Honoring student veterans
‘Wheedle' author comes to Lynnwood bookshop
Mavs build early lead en route to easy win
Prep football games of the week (state playoffs)
Tears of laughter, tears of grief
Death on Edmonds beach likely a suicide
The Enterprise Online Newspaper


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