A small Everett company that manufactures spare parts for older jets has been named supplier of the year by the Boeing Co. Onamac Industries, 11504 Airport Road, is one of 13 suppliers worldwide to be honored by Boeing. Onamac has 78 employees, who produce more than 600 spare parts for Boeing military and commercial jets. The award cites the company for its quick response times, ability to reduce costs, and investments in improvements. Two other Puget Sound companies – Pacific Aero Tech of Kent and Clements General Construction of Covington – also received the awards.
A British company will supply fuel pumps and valves for Boeing’s new 7E7. The company announced Wednesday that it chose FR-HiTemp, a unit of Cobham PLC, to supply the pumps used to fuel the plane, transfer fuel from tanks to engines and unload fuel when necessary. The deal potentially is worth more than $100 million, Cobham said. The company already supplies fuel pumps for a number of Boeing jets.
The Federal Reserve knocked down a rumor swirling in financial markets Wednesday that Fed Chairman Alan Greenspan had suffered a heart attack. “There is no truth to the rumor. The chairman is fine,” said Michelle Smith of the Federal Reserve. She said he missed a speech because he has a cold.
Future microprocessors from IBM Corp. will optimize their performance by altering themselves, adding memory or removing unneeded bits of circuitry on the fly, the company’s chief technologist said Wednesday. The self-morphing chips, still in development, were disclosed as IBM revealed wide-ranging plans for the company’s current generation of chips, the Power5. Big Blue hopes to work with outside technology developers to make Power chips a flexible, widely used driver of several kinds of computing systems.
Intel Corp. chief executive Craig Barrett’s bonus jumped 41 percent in 2003, though his salary remained unchanged from the previous year, according to a regulatory filing Wednesday. Barrett earned $610,000 in salary and $1.51 million in bonuses in 2003, when the chip-making giant’s profits jumped 81 percent to $5.6 billion and sales increased more than 12 percent to $30.14 billion. His 2002 bonus was $1.07 million.
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