Business briefs: Kimberly-Clark to trim Everett work force
Published 10:51 pm Thursday, June 25, 2009
Household-products maker Kimberly-Clark Corp. said Thursday it plans to cut 1,600 jobs, or 3 percent of its global work force, as it slims down in the tough economy. The maker of Kleenex tissues, Huggies diapers and scores of other household items employs 53,000 people around the world. It plans to make the cuts primarily among salaried and nonproduction workers at its Everett plant, spokesman Dave Dickson said. It isn’t clear how many, if any, positions would be eliminated. He said those affected will be notified in late July.
Microsoft offers Windows upgrade
Microsoft Corp. said Thursday that prices for the Windows 7 computer operating system are largely in line with those for Vista, and that people who buy PCs before the new system goes on sale in October will get free upgrades. To drum up demand among people who aren’t in the market for a new PC, Microsoft also said it is taking limited pre-orders for Windows 7, selling some for as little as $50. People who buy Windows Vista Home Premium, Business or Ultimate computers starting Friday can contact their manufacturer for a free upgrade when Windows 7 becomes available Oct. 22. As a result, Microsoft said it will defer recognition of an expected $200 million to $300 million in Windows revenue until later.
Innocent plea in Texas Ponzi case
Texas billionaire R. Allen Stanford pleaded not guilty Thursday to charges he swindled investors out of $7 billion as part of a massive investment scam. Stanford entered his plea during his arraignment in federal court. The financier was indicted on charges that his international banking empire was really just a colossal Ponzi scheme. Laura Pendergest-Holt, Gilberto Lopez and Mark Kuhrt, three executives with the now defunct Houston-based Stanford Financial Group who were indicted along with their former boss, also entered not guilty pleas during the court hearing.
Yahoo’s new CEO vows turnaround
Yahoo Chief Executive Carol Bartz echoed the turnaround promises of her predecessors as she presided over the first shareholder meeting since her hiring, yet she left little doubt the slumping Internet company’s new boss isn’t the same as the old bosses. Like Terry Semel did in 2007 and Jerry Yang again last year, Bartz assured shareholders Thursday that she will polish Yahoo’s tarnished brand and end a three-year financial funk that has depressed the Sunnyvale, Calif-based company’s stock.
Trade chief opposes Airbus subsidies
President Barack Obama’s trade chief said Thursday that the U.S. will respond “quickly and swiftly” if European nations agree to subsidize the Airbus A350 jet program. Ron Kirk said at a Paris news conference that the United States has made its “objections to launch aid for Airbus plain and unequivocal.” European governments may finance a third of the $15.24 billion development costs of the A350 XWB program in reimbursable loans, which Airbus CEO Tom Enders says are needed to compete on a “level playing field” with arch-rival the Boeing Co. The funding row over the A350 XWB, designed to compete with Boeing’s hot-selling 787, could fuel an old trade dispute between the U.S. and the European Union, which both accuse each other of illegal subsidies and have brought cases before the World Trade Organization.
From Herald staff and news services
