Boeing Co. says it will speed up production on its 737 line in 2012, betting that demand by airlines will increase as the economy recovers. The 737 is a workhorse for airlines around the world, and Boeing builds more than one a day — 31.5 a month — in Renton It says it will increase that to 34 per month in early 2012. Boeing is predicting that airlines will be profitable in 2011 and that demand for planes such as the 737 will increase in 2012. Boeing already has a backlog of 2,000 of the planes.
Shoppers back at big-box home stores
Lowe’s Cos. said shoppers spent more on home improvement projects in the first quarter and opted to buy new big-ticket items such as riding mowers rather than fix them, pushing the retailer’s net income up 2.7 percent. The company’s results Monday beat estimates and raised its prediction for the year. But the new expectations fell short of analyst predictions and shares fell. Chief Executive Robert Niblock said two-thirds of Lowe’s business comes from repairs, while the rest comes from discretionary purchases such as new patio furniture and grills. The company, based in Mooresville, N.C., earned $489 million, or 34 cents a share, in the three months ended April 30. A year ago, the company earned $476 million, or 32 cents a share.
Port of Everett ship schedule
Here’s a look at ships expected to arrive at the Port of Everett in the next month: Wednesday, Westwood Columbia, owner Westwood; May 24, Santiago, Westwood; May 26, Millennium Falcon, ECL/Fesco; June 1, Westwood Olympia, Westwood; June 8, Sevillia, Westwood; June 13, BBC Aramis, BBC; June 15, Westwood Rainier, Westwood. So far this year, the port has seen 30 ships and 19 barges, compared to 98 ships and 53 barges in all of last year.
T-bill rates mixed in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.16 percent, up from 0.155 percent last week. Six-month bills were sold at a discount rate of 0.23 percent, unchanged from last week. For a $10,000 bill, the three-month price was $9,995.96 while a six-month bill sold for $9,988.37. That would equal an annualized rate of 0.162 percent for the three-month bills and 0.233 percent for six-month bills. The Federal Reserve said Monday that the average yield for one-year Treasuries, a popular index for changing adjustable rate mortgages, fell to 0.38 percent last week from 0.39 percent.
Correction
Environix, a Lynnwood company that does environmental assessments, has been investigated by state and local officials for allegedly dumping paint-laden wastewater into a storm drain. Officials wrote a set of guidelines for the company to follow. A headline on Page D1 Saturday inaccurately described action taken against the firm.
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