Business Briefly

The Washington Utilities and Transportation Commission will host a public hearing at 4 p.m. today in Everett on Verizon Communications Inc.’s proposed increase in residential and business telephone rates. Under a proposed compromise with state regulators, Verizon would raise its rates by $3.90 a month for residential and business customers in two steps between this year and July 2007. The hearing is scheduled to take place in the Weyerhaeuser Room on the fourth floor of Everett Station, 3201 Smith Ave.

NetMusic to offer video on demand

NetMusic Entertainment Corp. of Edmonds said it will launch its new video on demand service in mid-May after successfully presenting the previously unreleased movie online last week. NetMusic’s service will offer a large selection of music videos, archival footage, films and television shows. The company did not say how much the service will cost.

Bothell biotech wins antibody patent

Bothell-based Northwest Biotherapeutics has received a patent for antibodies to a protein that plays a role in a majority of cancers. The patent provides broad coverage for the use of antibodies that may prevent and block the spread of cells that contain the protein.

Interest rate hike expected from Fed

Federal Reserve policy-makers, wanting to prevent a broader outbreak of inflation as oil prices surge, are likely to raise interest rates. The Fed is poised to boost its key federal funds rate by one-quarter percentage point to 2.75 percent today.

Verizon’s Seidenberg paid $17.3 million

Verizon Communications Inc. paid Chairman and Chief Executive Ivan Seidenberg $17.3 million in cash, equity and perks during 2004, according to a company Securities and Exchange Commission filing.

T-bill rates rise in Monday auction

The Treasury Department auctioned three-month bills at a discount rate of 2.8 percent, up from 2.735 percent last week. Six-month bills were auctioned at a discount rate of 3.035 percent, up from 3 percent last week. The new discount rates understate the actual return to investors – 2.859 percent for three-month bills with a $10,000 bill selling for $9,929.22 and 3.125 percent for a six-month bill selling for $9,846.56. The Federal Reserve also said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 3.31 percent last week from 3.24.

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Yansi De La Cruz molds a cheese mixture into bone shapes at Himalayan Dog Chew on Thursday, Sept. 21, 2023 in Arlington, Washington. (Olivia Vanni / The Herald)
Give a dog a bone? How about a hard cheese chew from Arlington instead!

Launched from a kitchen table in 2003, Himalayan Pet Supply now employs 160 workers at its new Arlington factory.

Cash is used for a purchase at Molly Moon's Ice Cream in Edmonds, Washington on Wednesday, Aug. 30, 2023. (Annie Barker / The Herald)
Washington minimum wage to top $16 an hour next year

Meanwhile, some salaried workers and rideshare drivers could see their earnings rise from other state-required adjustments.

Inside the new Boeing 737 simulator at Simulation Flight in Mukilteo, Washington on Wednesday, Sept. 20, 2023. (Annie Barker / The Herald)
New Boeing 737 simulator takes ‘flight’ in Mukilteo

Pilots can test their flying skills or up their game at Simulation Flight in Mukilteo.

An Amazon worker transfers and organizes items at the new PAE2 Amazon Fulfillment Center on Thursday, Sept. 14, 2023, in Arlington, Washington. (Ryan Berry / The Herald)
Amazon cuts ribbon on colossal $355M fulfillment center in Arlington

At 2.8 million square feet, the facility is the largest of its kind in Washington. It can hold 40 million “units” of inventory.

A computer rendering of the North Creek Commerce Center industrial park in development at 18712 Bothell-Everett Highway. (Kidder Mathews)
Developer breaks ground on new Bothell industrial park

The North Creek Commerce Center on Bothell Everett Highway will provide warehouse and office space in three buildings.

Dan Bates / The Herald
Funko president, Brian Mariotti is excited about the growth that has led his company to need a 62,000 square foot facility in Lynnwood.
Photo Taken: 102312
Former Funko CEO resigns from the Everett company

Brian Mariotti resigned Sept. 1, six weeks after announcing he was taking a six-month sabbatical from the company.

Cash is used for a purchase at Molly Moon's Ice Cream in Edmonds, Washington on Wednesday, Aug. 30, 2023. (Annie Barker / The Herald)
Paper or plastic? Snohomish County may require businesses to take cash

County Council member Nate Nehring proposed an ordinance to ban cashless sales under $200. He hopes cities will follow suit.

Catherine Robinweiler leads the class during a lab session at Edmonds College on April 29, 2021. (Kevin Clark / The Herald)
Grant aids apprenticeship program in Mukilteo and elsewhere

A $5.6 million U.S. Department of Labor grant will boost apprenticeships for special education teachers and nurses.

Peoples Bank is placing piggy banks with $30 around Washington starting Aug. 1.
(Peoples Bank)
Peoples Bank grant program seeks proposals from nonprofits

Peoples Bank offers up to $35,000 in Impact Grants aimed at helping communities. Applications due Sept. 15.

Workers build the first all-electric commuter plane, the Eviation Alice, at Eviation's plant on Wednesday, Sept. 8, 2021 in Arlington, Washington.  (Andy Bronson / The Herald)
Arlington’s Eviation selects Seattle firm to configure production plane

TLG Aerospace chosen to configure Eviation Aircraft’s all-electric commuter plane for mass production.

Orca Mobility designer Mike Lowell, left, and CEO Bill Messing at their office on Wednesday, Aug. 16, 2023 in Granite Falls, Washington. (Olivia Vanni / The Herald)
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Orca Mobility’s battery-powered, three-wheel truck is built on a motorcycle frame. Now, they aim to make it self-driving.

Members of Gravitics' team and U.S. Rep. Rick Larsen stand in front of a mockup of a space module interior on Thursday, August 17, 2023 at Gravitics' Marysville facility. Left to right: Mark Tiner, government affairs representative; Jiral Shah, business development; U.S. Rep. Rick Larsen; Mike DeRosa, marketing; Scott Macklin, lead engineer. (Gravitics.)
Marysville startup prepares for space — the financial frontier

Gravitics is building space station module prototypes to one day house space travelers and researchers.