Published: Saturday, July 16, 2011
Business Briefs: Alderwood’s American Girl to open today
The grand opening of the state's first American Girl store is expected to draw between 8,000 and 9,000 girls and tweens and their families to the Alderwood mall this weekend. The store will open from 9 a.m. to 9 p.m. today and from 11 a.m. to 7 p.m., Sunday inside the mall, 3000 184th St., Lynnwood. Each girl will receive a free gift. Girls ages 3 and older can snack on pretzel bits or lollipop brownies at the store's bistro, shop for American Girl historical and contemporary dolls or browse for books. Based in Wisconsin, the store has catered to girls for the last 25 years. Word of the store attracted locals and out of towners during a soft opening on Thursday. "I've loved the dolls forever," said Elizabeth Rose Artadi of Snohomish, who has five of them.
Bothell biotech's drug wins quicker trial
A panel of federal cancer experts has unanimously voted to grant accelerated approval to Seattle Genetics' innovative chemotherapy drug for two types of rare blood cancer. All 10 members of the Food and Drug Administration's oncology drug panel voted in favor of approving the drug based on a study of each in patients with Hodgkin's disease and a type of lymphoma. Regular drug approval normally requires two late-stage trials for each indication. The FDA is not required to follow the group's advice, though it usually does. "This drug has extremely exciting activity and is a great example of the kind of drug that should go ahead with accelerated approval," said Dr. Wyndham Wilson of the National Cancer Institute.
Eight European Union banks fail stress tests
Eight of 90 banks have flunked stress tests that project how they would fare in another recession, and 16 more barely passed, Europe's banking regulator said Friday. The failing banks should "promptly" take steps to strengthen their financial cushions against losses, the European Banking Authority said as it released the results. Spain fared worst, with five banks failing to prove that their capital buffers were strong enough. The banks were Catalunya Caixa, Caja de Ahorros de Mediterraneo, Banco Pastor, Unnim and Grupo Caja. Two Greek banks, EFG Eurobank and ATEBank, also flunked, as did Austria's Oesterreichische Volksbank AG.
Ichan makes Clorox an unusual offert
Activist investor Carl Icahn made an unusual offer to buy Clorox Co. this week, presenting himself almost as a disinterested bidder and encouraging the company to try to find a better offer. The billionaire hedge fund manager sent a letter to Clorox CEO Don Knauss on Thursday offering to pay $76.50 per share in cash, according to a regulatory filing Friday. That's a 12 percent premium to Thursday's closing price. Clorox shares leapt Friday on the news. However, Icahn seemed more interested in drumming up another buyer than actually buying it himself.
From Herald staff and news services
Bothell biotech's drug wins quicker trial
A panel of federal cancer experts has unanimously voted to grant accelerated approval to Seattle Genetics' innovative chemotherapy drug for two types of rare blood cancer. All 10 members of the Food and Drug Administration's oncology drug panel voted in favor of approving the drug based on a study of each in patients with Hodgkin's disease and a type of lymphoma. Regular drug approval normally requires two late-stage trials for each indication. The FDA is not required to follow the group's advice, though it usually does. "This drug has extremely exciting activity and is a great example of the kind of drug that should go ahead with accelerated approval," said Dr. Wyndham Wilson of the National Cancer Institute.
Eight European Union banks fail stress tests
Eight of 90 banks have flunked stress tests that project how they would fare in another recession, and 16 more barely passed, Europe's banking regulator said Friday. The failing banks should "promptly" take steps to strengthen their financial cushions against losses, the European Banking Authority said as it released the results. Spain fared worst, with five banks failing to prove that their capital buffers were strong enough. The banks were Catalunya Caixa, Caja de Ahorros de Mediterraneo, Banco Pastor, Unnim and Grupo Caja. Two Greek banks, EFG Eurobank and ATEBank, also flunked, as did Austria's Oesterreichische Volksbank AG.
Ichan makes Clorox an unusual offert
Activist investor Carl Icahn made an unusual offer to buy Clorox Co. this week, presenting himself almost as a disinterested bidder and encouraging the company to try to find a better offer. The billionaire hedge fund manager sent a letter to Clorox CEO Don Knauss on Thursday offering to pay $76.50 per share in cash, according to a regulatory filing Friday. That's a 12 percent premium to Thursday's closing price. Clorox shares leapt Friday on the news. However, Icahn seemed more interested in drumming up another buyer than actually buying it himself.
From Herald staff and news services
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