Everett Shipyard Inc. to remain on waterfront
Published 9:00 pm Monday, December 15, 2003
Everett Shipyard Inc. will relocate at the Port of Everett to make way for a $200 million redevelopment project, president Kevin Quigley announced Monday. He said the company and the port have signed an agreement in principle that would move the business from 14th Street to area farther south that is now an unused log yard. Everett Shipyard has kept busy repairing a large number of state ferries in recent years. Quigley said the company would now like to go after contracts to build the next generation of ferries. “We’re excited about the prospect of expanding our business and hope to bring super ferry construction to Everett,” he said in a prepared statement. The relocation agreement calls for the company to help clean up its current site, which has been used for ship building and repair for 50 years. The port and Maritime Trust of Chicago are redeveloping the area to include a new marina, condos, offices, shops, restaurants and other businesses.
The Boeing Co. board of directors approved a quarterly dividend of 17 cents per share Monday that will be paid March 5 to shareholders of record on Feb. 13. The dividend is the same as the one paid this quarter.
Sears, Roebuck &Co. is in the midst of a corporate restructuring review that might mean the third round of job cuts at its corporate headquarters in as many years, company officials have confirmed. Chief executive officer Alan Lacy outlined the restructuring effort in a memo to employees last week, saying it was being done to give the retailer a “more focused and efficient corporate structure.” Another reason for possible job reductions at Sears’ corporate headquarters in the Chicago area is the sale of Sears’ credit card operations, which was completed last month.
The Treasury Department sold three-month bills at a discount rate of 0.885 percent, down from 0.9 percent last week. Six-month bills sold at a rate of 0.98 percent, down from 1.000 percent. The three-month rate was the lowest since July 14 when the bills sold for 0.880 percent. The six-month rate was the lowest since July 21 when the rate was 0.95 percent. The new discount rates understate the actual return to investors – 0.903 percent for three-month bills with a $10,000 bill selling for $9,977.60 and 1.000 percent for a six-month bill selling for $9,950.50. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 1.31 percent last week from 1.37 percent the previous week.
Herald staff and news services
