Published: Wednesday, November 25, 2009
County wins $250,000 grant for aerospace
Snohomish County has received a $250,000 grant from the Washington state Department of Commerce for its new aerospace training center at Paine Field. The grant was announced Tuesday. The county said earlier this month that it was seeking as much as $500,000 for upgrades including resurfacing the parking lot, adding signs and buying technical equipment. The county-owned building is being leased to the Aerospace Futures Alliance, which signed an operating agreement with Edmonds Community College. The commerce department gave out $1.5 million designed to promote innovation-related efforts around the state.
Chief financial officer to leave Microsoft
Microsoft Corp. says its chief financial officer is departing at the end of the year. Chris Liddell joined Microsoft as CFO in 2005. He led a major effort to cut $3 billion in costs in the past year after the economic downturn started eating into Microsoft’s profits. The plan included Microsoft’s first mass layoffs, wage freezes, cuts to employee travel and other expenses. In the most recent quarter, Microsoft’s cash and short-term investments that could be quickly converted to cash jumped to $36.7 billion from $31.4 billion three months earlier. Microsoft says Liddell is looking at other opportunities. He’ll be replaced by Peter Klein, who is currently the top finance officer for the division that produces Office and other business software.
US Airways delays Airbus deliveries
US Airways said Tuesday it will delay delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength. The company said delaying the deliveries will reduce its aircraft capital expenditures over the next three years by $2.5 billion. US Airways had planned to add 82 Airbus planes by the end of 2012. The company said it will go ahead with 28 deliveries over the next three years, which it called a more manageable pace during an industry slump. The carrier has financing in place for those 28 planes, including commitments for $275 million in loans for four aircraft it will receive next year.
Saab deal dropped by Swedish firm
A Swedish specialty automaker has backed out of a deal to buy Saab from General Motors Co., casting serious doubt on the future of the troubled brand. Koenigsegg Group AB said Tuesday it has decided to end the deal, which was announced in June. Financial details of the acquisition were not disclosed by GM. The Detroit automaker had been trying to unload the Swedish brand as it restructured under Chapter 11 bankruptcy protection earlier this year. The collapse of the Saab sale is the third GM deal to fall through this year for a variety of reasons. GM Chief Executive Fritz Henderson says the company is disappointed in the decision and will take the next several days to figure out what to do.
From Herald news services
Chief financial officer to leave Microsoft
Microsoft Corp. says its chief financial officer is departing at the end of the year. Chris Liddell joined Microsoft as CFO in 2005. He led a major effort to cut $3 billion in costs in the past year after the economic downturn started eating into Microsoft’s profits. The plan included Microsoft’s first mass layoffs, wage freezes, cuts to employee travel and other expenses. In the most recent quarter, Microsoft’s cash and short-term investments that could be quickly converted to cash jumped to $36.7 billion from $31.4 billion three months earlier. Microsoft says Liddell is looking at other opportunities. He’ll be replaced by Peter Klein, who is currently the top finance officer for the division that produces Office and other business software.
US Airways delays Airbus deliveries
US Airways said Tuesday it will delay delivery of 54 Airbus jets until at least 2013 as it tries to bolster its financial strength. The company said delaying the deliveries will reduce its aircraft capital expenditures over the next three years by $2.5 billion. US Airways had planned to add 82 Airbus planes by the end of 2012. The company said it will go ahead with 28 deliveries over the next three years, which it called a more manageable pace during an industry slump. The carrier has financing in place for those 28 planes, including commitments for $275 million in loans for four aircraft it will receive next year.
Saab deal dropped by Swedish firm
A Swedish specialty automaker has backed out of a deal to buy Saab from General Motors Co., casting serious doubt on the future of the troubled brand. Koenigsegg Group AB said Tuesday it has decided to end the deal, which was announced in June. Financial details of the acquisition were not disclosed by GM. The Detroit automaker had been trying to unload the Swedish brand as it restructured under Chapter 11 bankruptcy protection earlier this year. The collapse of the Saab sale is the third GM deal to fall through this year for a variety of reasons. GM Chief Executive Fritz Henderson says the company is disappointed in the decision and will take the next several days to figure out what to do.
From Herald news services
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