Published: Wednesday, August 4, 2010
Briefs: Boeing names Laura Peterson top NW lobbyist
The Boeing Co. has named Laura J. Peterson vice president for state and local government operations in the Northwest region. Peterson will lead the team responsible for Boeing's political and government activities in the region, which includes Washington and Oregon. She'll report to Jim Albaugh, president of Boeing Commercial Airplanes and to George Roman, Boeing's vice president for state and local government operations across the United States. Peterson most recently served as vice president for business development and global strategy for commercial airplanes. She succeeds Fred Kiga, who left the company earlier this year.
Auto makers see sales climb in July
Automakers posted higher U.S. sales last month, a sign that Americans are still willing to buy big-ticket items even though concerns linger about the economy and hiring. After a sluggish June, sales rose slightly for General Motors Co. and Chrysler. Foreign-based companies such as Toyota and Honda posted bigger gains. Ford, meanwhile, had flat sales. Sales were boosted by easier credit and new versions of cars and trucks ranging from Jeeps to large family wagons. Summer promotions also helped. "Consumers have been conditioned to think that the summer is a great time to pick up a deal on a new car," Edmunds.com senior analyst Jessica Caldwell said.
Countrywide payout will settle lawsuits
Countrywide Financial Corp. agreed to pay $600 million to settle shareholder lawsuits in the largest payout so far from the mortgage meltdown. U.S. District Judge Mariana Pfaelzer in Los Angeles on Monday gave preliminary approval to the agreement, in which the defendants admitted no wrongdoing. The settlement would end several class-action lawsuits that claimed Countrywide concealed mounting risks as it loosened its standards for loans during the housing boom. The Calabasas company was once the nation's largest mortgage lender and was acquired by Bank of America Corp. in 2008. The settlement would clear former executives and financial firms that underwrote Countrywide stock and were named in the class-action suits.
Barnes & Noble may put itself up for sale
Book retailer Barnes & Noble Inc. said its shares have slumped so low it may put itself on the block -- possibly selling the chain to an investment group that would include its founder and biggest shareholder, Leonard Riggio. The world's largest bookseller said late Tuesday that its board is evaluating several options to boost shareholder value in the face of a depressed stock price, including selling the company. Riggio, who holds some 28 percent of the company, said he's considering joining an investor group to buy the retailer. Shares soared on the news in after-hours trading Tuesday, rising $3.31, or nearly 26 percent, to $16.15. Shares closed the regular session down 98 cents, or 7 percent.
From Herald news services
Auto makers see sales climb in July
Automakers posted higher U.S. sales last month, a sign that Americans are still willing to buy big-ticket items even though concerns linger about the economy and hiring. After a sluggish June, sales rose slightly for General Motors Co. and Chrysler. Foreign-based companies such as Toyota and Honda posted bigger gains. Ford, meanwhile, had flat sales. Sales were boosted by easier credit and new versions of cars and trucks ranging from Jeeps to large family wagons. Summer promotions also helped. "Consumers have been conditioned to think that the summer is a great time to pick up a deal on a new car," Edmunds.com senior analyst Jessica Caldwell said.
Countrywide payout will settle lawsuits
Countrywide Financial Corp. agreed to pay $600 million to settle shareholder lawsuits in the largest payout so far from the mortgage meltdown. U.S. District Judge Mariana Pfaelzer in Los Angeles on Monday gave preliminary approval to the agreement, in which the defendants admitted no wrongdoing. The settlement would end several class-action lawsuits that claimed Countrywide concealed mounting risks as it loosened its standards for loans during the housing boom. The Calabasas company was once the nation's largest mortgage lender and was acquired by Bank of America Corp. in 2008. The settlement would clear former executives and financial firms that underwrote Countrywide stock and were named in the class-action suits.
Barnes & Noble may put itself up for sale
Book retailer Barnes & Noble Inc. said its shares have slumped so low it may put itself on the block -- possibly selling the chain to an investment group that would include its founder and biggest shareholder, Leonard Riggio. The world's largest bookseller said late Tuesday that its board is evaluating several options to boost shareholder value in the face of a depressed stock price, including selling the company. Riggio, who holds some 28 percent of the company, said he's considering joining an investor group to buy the retailer. Shares soared on the news in after-hours trading Tuesday, rising $3.31, or nearly 26 percent, to $16.15. Shares closed the regular session down 98 cents, or 7 percent.
From Herald news services
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