Trade experts to offer advice in Everett
Published 9:56 pm Monday, March 10, 2008
Washington’s trade representatives from China, Japan, Mexico and Europe will meet with Snohomish County business owners next week to provide practical advice on taking advantage of foreign trade opportunities. The seminar will begin at noon Monday at the Hansen Conference Center at the Everett Events Center, at Hewitt Avenue and Broadway in downtown Everett. The state’s experts will discuss import trends, key products and cultural considerations in their respective countries and will also answer questions. Thom Kroon, CEO of the parent company of Damar Machine in Monroe, a successful exporter, will be the keynote speaker and will discuss developing an international business strategy.
Wal-Mart stores drop Linux PCs
Computers that run the Linux operating system instead of Microsoft Corp.’s Windows didn’t attract enough attention from Wal-Mart customers, and the chain has stopped selling them in stores, a spokeswoman said Monday. To test demand for systems with the open-source operating system, Wal-Mart stocked the $199 Green gPC, made by Everex of Taiwan, in about 600 stores starting late in October. Walmart.com, the chain’s e-commerce site, had sold Linux-based computers before and will continue selling the gPC. It just won’t restock them from sales in stores.
Merck chief gets big raise
Merck &Co.’s chief executive officer, Richard Clark, received compensation valued at $14.5 million in 2007, an 80 percent raise in a year when the drugmaker took a $4.85 billion charge to settle much of the litigation over its former painkiller Vioxx. Clark drew a base salary of $1.62 million last year, according to a regulatory filing Monday. Merck shares hit a new 52-week low Monday prior to the filing and closed down 49 cents, or 1.2 percent at $41.26.
Texas Instruments hurt by cell sales
Texas Instruments Inc., which makes chips used in about half the world’s cell phones, lowered its range of expected profits and sales in the first quarter, citing a key customer’s decision to cut orders. Company officials on Monday declined to identify the customer, other than to indicate it is a maker of wireless phones. Two major wireless customers of Texas Instruments — Nokia Corp. and Sony Ericsson — both announced last year they would begin ordering some chips from other semiconductor companies.
T-bills rates fall in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 1.42 percent, down from 1.79 percent last week. Six-month bills were auctioned at a discount rate of 1.45 percent, down from 1.81 percent last week. For a $10,000 bills, the three-month price was $9,964.11 while a six-month bill sold for $9,926.69. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable-rate mortgages, dipped to 1.66 percent last week, from 1.98 percent the previous week.
From Herald staff and news services
