Briefly
Briefly
Boeing union files unfair-labor action
The Society of Professional Engineering Employees in Aerospace said Wednesday it has filed an unfair labor practice charge against the Boeing Co. because of a long-standing disagreement over an employee bonus program. Boeing has traditionally offered its Employee Incentive Program, which pays cash bonuses based on company performance, to nonunion employees. That aggravates SPEEA, which says the benefit program discriminates against union workers at Boeing. To settle an earlier complaint over the program, the company agreed to stop calling it a “nonunion” benefit. But the November issue of the company’s magazine violated that agreement by referring to it as a nonunion program, the SPEEA complaint says.
State staff oppose Verizon phone hike
Staff at the Washington Utilities and Transportation Commission have filed testimony opposing Verizon’s request to permanently increase its telephone rates by 75 percent in Snohomish County and other areas of the state. Verizon has asked to raise its basic residential and business rates $9.80 a month. The staff testimony disputes Verizon’s claims that it is not earning a reasonable profit on its telephone business. Earlier in the year, the utilities commission rejected Verizon’s request for a temporary increase.
Nastech planning new stock sale
Nastech Pharmaceutical Co. plans to sell more than 4.2 million shares of common stock, the Bothell company announced Wednesday. The company, which already has nearly 13.5 million outstanding shares, also will give the investment firms underwriting the offering the option of purchasing an additional 637,500 shares. The developer of nasally inhaled drugs didn’t disclose what it plans to do with the proceeds from the offering. The company’s stock closed at $15.18 a share, down 34 cents, on Wednesday.
Economic recovery remains bumpy
Orders for big-ticket goods at America’s factories dropped in October after brisk activity in September, highlighting the sometimes bumpy recovery of the nation’s manufacturers. The Commerce Department reported Wednesday that orders for durable goods – costly manufactured products expected to last at least three years – decreased by 0.4 percent in October from September. Factory activity was weighed down by weakness in new bookings placed for automobiles, computers, electrical equipment and primary metals, including steel. The performance disappointed economists, who were forecasting a 0.5 percent increase in durable-goods orders for October.
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