DreamWorks Animation SKG Inc., the studio behind the animated hit “Shrek 2,” reported third quarter earnings Wednesday in line with analysts’ expectations, but said “Shrek 3” would be released six months later than previously scheduled. The company’s stock fell in late trading. In its first report since going public in October, DreamWorks reported net income of $20.3 million. Adjusting for income taxes that would have been recorded if the company had historically been a taxable corporation, the studio earned $13.7 million, or 18 cents a share.
Coldwell affiliates agree to merger
Two of Washington state’s Coldwell Banker affiliates have agreed to merge, creating what officials from one office called the largest singly-owned real estate company in the Northwest. Tacoma-based Coldwell Banker Hawkins-Poe said Tuesday it would merge its residential real estate operations with Seattle-based Coldwell Banker Bain. Terms were not disclosed. Coldwell Banker Bain employs about 1,600 sales associates; Hawkins-Poe’s operation has 250. Frank Hawkins said the merged entity under the Bain name “will be the largest singly-owned real estate entity in the Northwest, including Washington, Oregon and Idaho.”
Air India to order 18 737-800s
The board of Air India’s charter airplane operation has approved a plan to acquire 18 Boeing airplanes in a deal that could be worth more than $1 billion at list prices. In a statement Tuesday, Air India Charters Limited’s board of directors said they had approved the plan to buy 18 twin-engine, narrow-body 737-800s for use by the company’s Air India Express subsidiary. Air India said the deal has been submitted for government approval. The purchase would be worth up to $1.25 billion at list prices, although airlines typically negotiate steep discounts.
Wal-Mart fights Tumwater council
Wal-Mart, aware of a 7 p.m. Tumwater City Council meeting Tuesday at which council members planned to block its efforts to build a store in Tumwater, filed its permit application at 4 p.m. that same day. Council members still approved an emergency resolution that blocks Wal-Mart’s efforts to build a 207,000-square-foot store between existing Costco and Home Depot outlets. The resolution prohibits buildings of that size. The city now has 28 days to review the company’s application. It can be rejected if it is deemed incomplete.
From Herald news services
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