Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Tuesday, October 14, 2008 Average gas price dips to $3.40 in state The AAA auto club says the average price of a gallon of gas in Washington is $3.40. That's down 41 cents in the past month and 95 cents from the record high in July. The state average is still 19 cents higher than the national average. The auto club reports the average price of diesel in Washington is $3.79. That's $1.19 off July's record high. Some gasoline prices around Washington reported Monday by the AAA: Bellingham $3.40, Bremerton $3.40, Seattle $3.44, Tacoma $3.33, Olympia $3.38, Vancouver $3.41, Yakima $3.36, Tri-Cities $3.41, Spokane $3.35. Boeing's stock rises with Street surge Shares of the Boeing Co. increased 12.6 percent Monday to close at $47.08. The aerospace giant got a boost from the upswing on Wall Street. It also benefitted from news that company officials have been meeting with leaders of its Machinists union -- but the sides broke off talks later Monday after the markets closed. The Machinists have been on strike since Sept. 6. The union seeks better wages, pension, health care and increased job security. Boeing's stock has taking a beating over the past year, dropping roughly $50 from last October when the company announced a major delay to its 787 Dreamliner program. Meat expected to cost more in 2009 Meat will be more expensive in restaurants in 2009. Restaurants expect big increases in food costs -- increases that will likely lead to menu changes and price hikes. Some chains are already adjusting their menus to reflect current high costs for both beef and chicken. Fast-food leader McDonald's Corp. is considering making some changes to its popular dollar menu -- either by changing the items on the menu or bumping up prices -- saying the cost of selling meat at such low prices might be too high. The decision to raise prices or change menus could have some harsh repercussions, especially because more diners are already eating at home to avoid pricey restaurant food. Japanese bank bails out Morgan Stanley Morgan Stanley averted disaster with a $9 billion lifeline from a major Japanese bank, and on Monday declared it will use that money to pick off smaller rivals. Just a few days ago, some on Wall Street openly questioned if the embattled investment bank would be the next to collapse amid a deepening global credit crisis. Now, Morgan Stanley appears emboldened by the 21 percent stake taken by Japanese lender Mitsubishi UFJ -- and, for now, seems to have regained the market's confidence. Investors poured back into Morgan Stanley shares, which last week plunged 60 percent. Shares recouped $8.42, or 87 percent, to close at $18.10. Spielberg signs on with Universal Steven Spielberg's DreamWorks studio has signed on with Universal Pictures to distribute its films as his company parts ways with Paramount. Under the seven-year deal, Universal will distribute up to six DreamWorks movies a year domestically and overseas, except for India, executives for both companies said Monday. From Herald news services READER COMMENTS Be the first to comment. You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet. To register, click here. To read other terms and conditions, click here. Log out

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’ 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• 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 • Boeing will build, flight test and deliver 787s in South Carolina to spe ... • Snohomish County EDC promoting job growth in key industry clusters • $4 million grant to advance brain tumor research has Everett links • Providence medical center construction tops off its 12-story steel frame ... • Tulalip affordable housing project to be financed by KeyBank, Raymond Ja ... • Arlington's Lak of Ink has a growing following for Luke Kooyman's creati ... • Bank of the Northwest formed • Cascade Bank earns $1.6 million