Relief due for Countrywide’s former customers
Published 10:43 pm Thursday, July 23, 2009
The state attorney general’s office is notifying 962 former Countrywide Financial customers who lost their homes to foreclosure that they could receive more than $962 due to allegations that the bank engaged in unfair or deceptive tactics. Countrywide was bought by Bank of America last year. Eventually, nearly 10,000 Washington homeowners are expected to receive millions in loan payment relief. Borrowers can find out more at www.countrywidesettlementinfo.com or by calling 866-411-6987.
Whidbey Island Bank posts 2Q profit
Washington Banking Co., the parent company of Oak Harbor-based Whidbey Island Bank, reported Thursday a second-quarter profit of $818,000, or $0.09 per share, down from $2.4 million, or $0.25 per share, in the second quarter 2008. The bank took in $40 million in new loans in the second quarter. Washington Banking was added to the Russell 2000 index at the end of June.
Court to review Collins Building
A court commissioner hearing is scheduled for Friday morning in Snohomish County Superior Court to determine whether legal action is warranted to stop the Port of Everett’s demolition of the historic Collins Building. Earlier this month, a Court Commissioner granted a temporary injunction, a boon for the group hoping to save the former casket company facility, now controlled by the Port of Everett. The port plans to raze the building, saying necessary updates will prove too costly. Friday’s hearing will help determine if further legal action to halt demolition is appropriate.
Amazon 2Q profit drops on settlement
Amazon.com says second-quarter earnings fell while sales rose. That’s because of a $51 million payment to settle a long-standing dispute with former partner Toys R Us. The profit still beat Wall Street estimates. Seattle-based Amazon.com Inc. said Thursday it earned $142 million, or 32 cents per share, in the quarter. That’s 10 percent lower than profit of $158 million, or 37 cents per share, a year ago. Sales climbed nearly 15 percent to $4.65 billion.
Kimberly-Clark Corp. profit slides 3 percent
Kimberly-Clark Corp. said Thursday its profit slipped 3 percent in the second quarter, but the maker of Huggies diapers and Kleenex tissue lifted its 2009 outlook because it expects a smaller hit from the strong dollar. The company earned $403 million, or 97 cents per share, down from $417 million, or 99 cents per share, a year ago. Revenue declined nearly 6 percent to $4.73 billion from $5 billion a year ago, with sales of consumer tissue products slipping 8 percent. Selling prices rose about 6 percent in its personal care products unit, but sales still declined 2 percent.
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