The Boeing Co. dedicated one of its buildings in Everett to engineer Joe Sutter, who led the design team on the original 747 jumbo jet in the mid-1960s. Sutter, 90, went on to serve as vice president of engineering and operations for the commercial airplanes division. Although he retired from Boeing in 1986, Sutter has continued to serve as a consultant to the company. Earlier this year, Boeing painted Sutter’s initials on its first 747-8 passenger plane for the updated jumbo jet’s first flight. The engineering building dedicated Monday to Sutter is one of the two Boeing towers off Seaway Boulevard in Everett.
Toyota review seeks safety shakeup
An independent review of Toyota Motor Corp. has found that the automaker suffers from deeply entrenched structural issues that could compromise safety, even though no electronic cause has been found for sudden acceleration in its vehicles. In a strongly worded 60-page report, reviewers found that Toyota has problems differentiating quality from safety, in part because of a “well-deserved sense of pride at being No. 1” that can “slowly and subtly transform into arrogance and foster complacency.” The study was conducted by the Toyota North American Quality Advisory Panel and released Monday, slightly more than a year after the company formed the group to evaluate Toyota in the wake of massive recalls over incidents of sudden acceleration.
Regulators approve Trump’s casino sale
New Jersey casino regulators approved the sale of Trump Marina Hotel Casino on Monday to the owners of the Golden Nugget casinos in Nevada for $38 million — about a 10th of what the property was expected to fetch just three years ago. Landry’s Inc. has rebranded the casino as the Golden Nugget Atlantic City, a name change that became official with Monday’s vote by the Casino Control Commission. The giant “TRUMP” letters have been removed from the front of the casino, though the top and rear of the casino-hotel still bear Donald Trump’s name. A banner proclaiming the casino as the Golden Nugget could be put up as soon as Tuesday.
T-bill rates rise in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 0.055 percent, up from 0.03 percent last week. Six-month bills were sold at a discount rate of 0.1 percent, up from 0.07 percent last week. The discount rates indicate that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.61 while a six-month bill sold for $9,994.92. That would equal an annualized rate of 0.056 percent for the three-month bills and 0.102 percent for the six-month bills. Separately the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 0.19 percent last week from 0.18 percent.
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