The AAA auto club says the average price of a gallon of gas in Washington is $3.40. That’s down 41 cents in the past month and 95 cents from the record high in July. The state average is still 19 cents higher than the national average. The auto club reports the average price of diesel in Washington is $3.79. That’s $1.19 off July’s record high. Some gasoline prices around Washington reported Monday by the AAA: Bellingham $3.40, Bremerton $3.40, Seattle $3.44, Tacoma $3.33, Olympia $3.38, Vancouver $3.41, Yakima $3.36, Tri-Cities $3.41, Spokane $3.35.
Boeing’s stock rises with Street surge
Shares of the Boeing Co. increased 12.6 percent Monday to close at $47.08. The aerospace giant got a boost from the upswing on Wall Street. It also benefitted from news that company officials have been meeting with leaders of its Machinists union — but the sides broke off talks later Monday after the markets closed. The Machinists have been on strike since Sept. 6. The union seeks better wages, pension, health care and increased job security. Boeing’s stock has taking a beating over the past year, dropping roughly $50 from last October when the company announced a major delay to its 787 Dreamliner program.
Meat expected to cost more in 2009
Meat will be more expensive in restaurants in 2009. Restaurants expect big increases in food costs — increases that will likely lead to menu changes and price hikes. Some chains are already adjusting their menus to reflect current high costs for both beef and chicken. Fast-food leader McDonald’s Corp. is considering making some changes to its popular dollar menu — either by changing the items on the menu or bumping up prices — saying the cost of selling meat at such low prices might be too high. The decision to raise prices or change menus could have some harsh repercussions, especially because more diners are already eating at home to avoid pricey restaurant food.
Japanese bank bails out Morgan Stanley
Morgan Stanley averted disaster with a $9 billion lifeline from a major Japanese bank, and on Monday declared it will use that money to pick off smaller rivals. Just a few days ago, some on Wall Street openly questioned if the embattled investment bank would be the next to collapse amid a deepening global credit crisis. Now, Morgan Stanley appears emboldened by the 21 percent stake taken by Japanese lender Mitsubishi UFJ — and, for now, seems to have regained the market’s confidence. Investors poured back into Morgan Stanley shares, which last week plunged 60 percent. Shares recouped $8.42, or 87 percent, to close at $18.10.
Spielberg signs on with Universal
Steven Spielberg’s DreamWorks studio has signed on with Universal Pictures to distribute its films as his company parts ways with Paramount. Under the seven-year deal, Universal will distribute up to six DreamWorks movies a year domestically and overseas, except for India, executives for both companies said Monday.
From Herald news services
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