Local gas now averages $4.05 a gallon
Published 8:37 pm Wednesday, May 28, 2008
The average price of a gallon of gasoline in Snohomish County, which smashed past $4 over the Memorial Day weekend, still is rising. As of Wednesday, the average for a gallon of regular unleaded was just under $4.05, according to AAA. That is 64 cents higher than a year ago. Diesel averaged $4.93 a gallon, up $1.87 from a year ago.
Ford to cut 2,000 salaried workers?
A newspaper report says Ford Motor Co. may cut its U.S. salaried work force by up to 12 percent, or more than 2,000 jobs, as it tries to keep its restructuring plan on track amid slumping sales and record-high gas prices. The Detroit News reported Wednesday that some employees were told about planned involuntary layoffs of about 10 percent — or as high as 12 percent — during a town hall-style meeting Friday.
Ex-chief of Airbus parent detained
A former co-chief executive of Airbus parent EADS was detained Wednesday in connection with an investigation into alleged insider trading, a French judicial official said. Noel Forgeard, who resigned in 2006, can be held for up to 48 hours for questioning. The official was not authorized to talk publicly about the case and spoke on condition of anonymity. Investigators are looking into the sale of EADS shares by top executives and big shareholders before a June 2006 announcement of delays for the much- anticipated A380 wide-body airliner. EADS shares crashed 26 percent in one day.
CellCyte OKs research pact
Bothell’s CellCyte Genetics Corp. has signed a research agreement with Northwestern University’s Feinberg School of Medicine to study the effect of CellCyte’s CCG-TH30 drug candidate in mice. Researchers hope to evaluate the drug’s benefit against heart problems, according to CellCyte. Shares of the company, which is the subject of a Securities and Exchange Commission investigation, rose one penny Wednesday to close at 46 cents.
Horizon Air changes flights
Horizon Air is discontinuing service from Seattle to Butte, Mont., and reducing or changing flights to other cities in the Northwest this summer to save fuel and improve financial performance. The Seattle-based regional airline also is phasing out its jets in favor of a single fleet using the 76-seat Q400 turboprop. Routes affected by service changes include Billings-Portland, Portland- Seattle, Pasco-Seattle, Kelowna-Seattle, Idaho Falls-Boise, Lewiston-Boise, Medford-Portland, Bend-Portland, Bend-Seattle, Billings-Helena, San Jose- Sacramento, Idaho Falls- Seattle, Boise-San Jose, Boise-Sacramento, Wenatchee- Seattle and Seattle-Sun Valley.
Coke expects weak earnings
Soft drink bottler Coca-Cola Enterprises Inc. said Wednesday weak sales trends in the U.S. will likely lead to a decline in its second quarter earnings and may make it difficult to meet its 2008 profit plans. The bottler’s shares fell more than 5 percent and touched a 52-week low.
From Herald staff
and news services
