Boeing, Alaska shares still falling

  • Tuesday, September 18, 2001 9:00pm
  • Business

Shares of Boeing Co. and Seattle-based Alaska Air Group fell for a second day Tuesday on worries about the future of commercial aviation, even as other aerospace companies saw slight rebounds. Shares in Boeing dropped more than 7 percent, or $2.66, to close at $33.14. Shares in Alaska were down 48 cents at $21.20.

Frontier Financial Corp. declared a 14-cent-a-share dividend Monday. This is a half-cent increase from the 13.5-cent dividend paid during the past quarter. It will be paid Oct. 29 to shareholders of record as of Oct. 15.

The long-awaited dredging of the Port of Everett’s marina and boat launch areas should begin Oct. 1, following action Tuesday by the port’s three-member commission. Commissioners unanimously awarded a dredging contract to American Construction Co. Inc. of Everett for $640,730 to clear 45,000 cubic yards of sediment and transfer it to a deep water disposal site off Everett. Commissioners also agreed to pay Refrigeration &Heating Inc. of Everett $242,745 for replacement of the heating and ventilation system at the Bayview Building, 2911 Bond St., which houses port offices.

Car sales, home sales, tourism, business travel and other major parts of the economy suddenly look very vulnerable, and many economists no longer doubt that the country will suffer a recession this year. But analysts who believe the terror attacks will trigger a full-blown recession also predict the economy will come roaring back next year, helped by the extra billions that will be spent on reconstruction and security.

Attorney General John Ashcroft Tuesday warned computer users about a new Internet threat that could slow the global network worse than the “Code Red” worm that struck earlier this summer. Ashcroft said the FBI and private firms are assessing the effects of the program, known as W32-Nimda, which has already affected tens of thousands of computers.

Strong sales of entertainment software and digital products helped boost second-quarter earnings of Best Buy Co. Inc. by 10 percent, beating analysts’ forecasts by a penny a share. Best Buy, based in Eden Prairie, Minn., earned $85 million, or 39 cents a share, in the quarter ended Sept. 1, compared with $77 million, or 36 cents a share, a year earlier.

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