Boeing has been given provisional approval by the FAA for its 787 pilot training courses. Pilots who take the courses devised by Boeing can qualify to fly the 787 in five to 20 days. Pilots already certified on Boeing’s 777 can qualify to fly the 787 in as few as five days given the similarities between the two planes. “Gaining FAA approval for our courses is a significant milestone as we ramp up to the start of flight training,” said Boeing’s Mark Albert. The Dreamliner is more than two years behind schedule. Boeing is hoping to deliver its first 787 by year’s end. Recently, Boeing officials have indicated the 787 delivery date could slide into early 2011.
Dell pays $1 billion for Seattle’s 3Par
Dell Inc. said Monday it is buying 3Par Inc., a maker of enterprise data storage equipment, for about $1.13 billion cash. Dell is offering $18 per share for 3Par, an 87 percent premium over Friday’s closing price for the company of $9.65. In midday trading, 3Par shares surged 87 percent to $18.01. Dell is the world’s second-largest maker of personal computers, behind Hewlett-Packard Co. As PC prices have fallen in recent years, Dell has worked to establish other, more profitable lines of business, but PCs still make up more than half of Dell’s revenue. By comparison, information technology consulting services made up 13 percent of Dell’s revenue in the quarter ended April 30, and storage devices made up 4 percent of revenue.
Jeld-Wen founder dies at age 79
Richard “Dick” Wendt, a founder of the international door and window manufacturer Jeld-Wen Inc. and a contributor to conservative political causes in Oregon, has died. Born in Iowa, Wendt moved to Klamath Falls in 1957 to manage a window parts mill. He joined a group that bought the equipment and founded Jeld-Wen in 1960. Jeld-Wen purchased Nord Door Co., a long-time door maker in Everett, then closed the factory several years ago and announced plans to develop the waterfront property. Jeld-Wen grew from 15 employees to 20,000, with operations in 20 countries. As the company grew, Wendt continued to live in an unpretentious ranch house overlooking Klamath Falls. Forbes magazine estimated he had a personal fortune of more than $700 million.
T-bill rates mixed in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.155 percent, up from 0.15 percent last week. Six-month bills were sold at a discount rate of 0.185 percent, down from 0.19 percent last week. For a $10,000 bill, the three-month price was $9,996.08 while a six-month bill sold for $9,990.65. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, fell to 0.25 percent last week from 0.27 percent the previous week.
From Herald news services