The U.S. Navy has awarded the Boeing Co.’s defense units two contracts worth a total of $9.6 billion to supply it with 210 F/A-18 Super Hornets, while also developing an electronic warfare plane based on the Super Hornet airframe. The first Super Hornet squadrons were deployed during the war in Iraq from the USS Abraham Lincoln. Under the new contract, Boeing’s St. Louis-based Integrated Defense Systems division will build 42 planes a year starting in late 2004 and continuing for five years. The Navy will pay $8.6 billion for those planes. Under the second contract, worth $1 billion, Boeing will have five years to develop and test a prototype EA-18G electronic warfare plane. The plane, which will carry electronic jamming equipment, is seen as the successor to the EA-6B Prowlers now stationed at Whidbey Island Naval Air Station.
Collectible items and the stock market will be the main focus of “Getting Your Dough to Rise,” the monthly personal finance show that airs 4:30-5:30 p.m. today on KSER 90.7 FM, Snohomish County’s public radio station. Appraiser Kathleen Victor and stock analyst Dennis Jensen of Tacoma’s Frank Russell Co. will join host Chuck Noel. People who would like to bring collectible items to the studio for an appraisal may call the station for more information and directions at 425-742-4541.
The Treasury Department sold three-month bills at a discount rate of 0.885 percent, up from 0.87 percent last week. Six-month bills sold at a rate of 0.995 percent, up from 0.97 percent. The new discount rates understate the return to investors – 0.901 percent for three-month bills with a $10,000 bill selling for $9,977.90 and 1.016 percent for a six-month bill selling for $9,950. The Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for changing adjustable rate mortgages, rose to 1.28 percent last week from 1.27 percent.
The dollar fell to new all-time low against the euro and an 11-year low against the British pound Monday as weeks of downward dollar sentiment persisted in thin holiday trading. The euro rose briefly to $1.2511 in European trading, breaking a previous record of $1.2473 from last week, before slipping back under the $1.25 mark. The British pound reached $1.7770, an 11-year high, before easing off later in the day to $1.7730 in late New York trading, down from $1.7702 late Friday.
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