The executive board of Boeing Co.’s engineering and technical workers union has terminated the contract of the union’s longtime leader, a spokesman said Wednesday. The seven-member board of the Society of Professional Engineering Employees in Aerospace voted Tuesday night to discontinue SPEEA Executive Director Charles Bofferding’s contract, effective immediately, spokesman Bill Dugovich said. Dugovich, who was named SPEEA’s interim chief of staff, declined to disclose how the board voted or comment on why the contract was terminated.
Apparel sales grow for Everett chain
Zumiez Inc. of Everett reported sales during the five weeks ended July 7 rose nearly 49 percent to $31.5 million, compared with $21 million from the same period last year. At stores open more than a year, sales increased almost 14 percent, exceeding nearly all analysts’ expectations. Zumiez ended the sales period with 264 stores across the nation.
Forbes ranks state No. 5 in business
Washington state ranks as the nation’s fifth-best state for business, according to Forbes magazine’s annual survey. The state was the “biggest mover,” as it rose from 12th place on the list last year. Forbes said the state was the only one to finish in the top 10 in three of Forbes’ main judging criteria and cited Washington’s climate of innovation, strong job market and “pro-business regulatory environment.”
Taco Bell parent raises growth
Fast-food giant Yum Brands Inc. said Wednesday that its second-quarter profit rose by 12 percent, beating Wall Street projections, amid ongoing growth in its international business that offset an essentially flat U.S. performance. The operator of KFC, Taco Bell and Pizza Hut reported 7 percent same-store sales growth in mainland China and a 5 percent upswing in its international division.
Trading mixed after euro record
The dollar traded mixed Wednesday after hitting a record low against the euro overnight on concerns about the struggling U.S. housing market. The 13-nation euro traded as high as $1.3784 before settling back to $1.3761 in late New York trading, up from $1.3729 late Tuesday.
Sallie Mae buyout seems doomed
A planned $25 billion buyout of the nation’s largest student loan lender, Sallie Mae, could fail because of legislation pending in Congress, the potential buyers have said. SLM Corp., more commonly know as Sallie Mae, said in a statement Wednesday that it disagreed with the investment group’s assertion and it would proceed with the deal as swiftly as possible to protect its investors. The group informed Sallie Mae that legislative proposals pending before Congress “could result in a failure of the conditions to the closing of the merger to be satisfied.”
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