The Port of Everett did what it agreed to do in examining development possibilities of the historic Collins Building on the waterfront, a review committee said in rejecting an appeal from the Washington Trust for Historic Preservation this week. The trust contended the port had unfairly intended all along to raze the building. But the federal Advisory Council on Historic Preservation said having a desire for the building didn’t mean the port didn’t fairly examine the possibilities. It ruled that the port did its job. The port commission, which includes two new members, is reviewing what to do with the building. Nothing will happen until it makes a decision.
Orange County DA files Toyota lawsuit
The Orange County, Calif., district attorney’s office on Friday filed a civil lawsuit against Toyota’s U.S. sales unit, saying the automaker endangered the public by knowingly selling defective vehicles. The action comes six months after Toyota began a string of recalls on millions of vehicles for problems associated with braking and sudden, unintended acceleration. The lawsuit is believed to be the first by a district attorney against an automaker. The suit seeks to “permanently enjoin Toyota from continued unlawful, unfair, deceptive and fraudulent business practices as it pertains to both consumers and competitors.”
K-C top executive paid $9 million
Kimberly-Clark Corp. CEO Thomas J. Falk’s compensation edged up 1 percent last year to nearly $9 million as the maker of Huggies diapers and Kleenex tissues improved its profit due to price hikes, according to an Associated Press analysis of regulatory filings. Falk, 51, received more than $2.8 million in a performance-related bonus for the fiscal year ending Dec. 31, according to a filing with the Securities and Exchange Commission Friday. That figure more than doubles the amount from the previous year of $943,247. His salary remained the same at $1.2 million and his overall compensation was nearly flat because he earned 26.5 percent less in stock options and restricted stock last fiscal year. They were worth $4.9 million when granted, down from $6.6 million the previous year. Falk’s compensation also included $78,394 in perquisites, or “perks,” including $32,277 for personal use of the company’s plane, and $7,350 in defined plan contributions. He received $36,695 for security, and $2,072 for health screenings.
Bank shutdowns reach 30 in 2010
Regulators on Friday shut down banks in New York, Florida and Louisiana, raising to 30 the number of failures this year of federally insured banks. The Federal Deposit Insurance Corp. was appointed receiver of Park Avenue Bank in New York; Old Southern Bank in Orlando, Fla.; and Statewide Bank in Covington, La. Park Avenue Bank had $520.1 million in assets and $494.5 million in deposits as of Dec. 31.
From Herald news services
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