Boeing Co. designers have completed the firm configuration of the new 777 freighter, the company said Monday. Reaching that milestone means the overall design has been completed, which will allow Boeing and its suppliers to begin work designing the details of the new cargo jet’s parts and systems. The first 777 freighter is scheduled for delivery to launch customer Air France in late 2008.
Announced layoffs were very old news
Philips Medical Systems of Bothell isn’t laying off 33 employees this summer, after all. A clerical error caused the state to mistakenly post an old layoff notice concerning Philips to the Employment Security Department’s Web site on Friday. A brief story mentioning that ran in Saturday’s Herald. Philips, which employs more than 1,500 people near Canyon Park, laid off dozens last year, but there are no announced plans for layoffs at this time.
SanDisk to buy Israeli competitor
Flash memory maker SanDisk Corp. said Monday that it had agreed to buy Israeli competitor M-Systems Flash Disk Pioneers Ltd. for $1.56 billion in stock. The deal values M-Systems at $36 per share, a 26 percent premium over the average closing price of M-Systems’ shares over the past month. M-Systems makes a type of flash memory that uses NAND technology. NAND is one of two architectures – the other is called NOR – used in compact flash cards, USB flash drives, MP3 players, cellular phones and digital cameras. Toshiba pioneered NAND flash architecture in 1989, and other companies quickly developed similar products.
Chrysler extends discount program
DaimlerChrysler AG’s Chrysler Group is extending its employee discount program on most 2006 models beyond Monday, when the promotion was to have expired. The program likely will remain in effect until Sept. 5 – the day after Labor Day – a Chrysler official said Monday. The official requested anonymity because the extension will not be officially announced until today, when the automaker releases July sales figures. Besides giving employee prices to everyone, Chrysler has been offering buyers the choice of zero percent financing for 36 months or rebates that vary by model.
Profits increase for Whole Foods
Whole Foods Market Inc. said Monday that its most recent quarterly profit had increased by one-third as the upscale grocer added square footage and some big gains in same-store sales. But sales fell short of Wall Street forecasts, raising the prospect of slower future growth, and Whole Foods shares tumbled more than 7 percent in late-session trading. The Austin-based company said it had earned $53.9 million, or 37 cents per share, in the three months ended July 2, compared with $40.4 million, or 29 cents per share, in the same period last year.
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