Business Briefly

  • Tuesday, October 19, 2004 9:00pm
  • Business

Boeing Employees Credit Union will eliminate 85 jobs at its 30 locations around Puget Sound. The state’s largest credit union said Tuesday that the cuts are needed to control costs. Both management and rank-and-file jobs will be cut. The credit union has one stand-alone branch and seven branches in grocery stores in Snohomish County.

Port continues tax assessment

Everett- and Mukilteo-area residents in the Everett Port District will again pay property taxes to support the organization’s operations. The port’s three commissioners approved the same 2005 tax rate Tuesday that residents have paid for the past two years, about 37.7 cents per $1,000 of assessed property value. That means owners of a $200,000 home would pay $75.40 a year.

Goodrich to pay 20-cent dividend

Goodrich Corp., which has a major aircraft maintenance facility in Everett, announced a 20-cent quarterly dividend to shareholders on Tuesday. The company said it will make the payment Jan. 3 to shareholders of record as of Dec. 6. The amount is unchanged from the previous quarter.

Consumer prices rise in September

Consumer prices picked up momentum in September, especially hitting the pocketbooks of people paying for medical care, education costs and filling up gas tanks. Although out-of-control inflation is not a current danger to the economy, analysts said the acceleration justifies an interest rate increase by the Federal Reserve when it meets Nov. 10, which would be this year’s fourth such increase.

Delta Air Lines news isn’t good

Delta Air Lines Inc. said it will report another huge quarterly loss today, and plans to skip its routine of speaking to investors – a sign to some observers that a bankruptcy filing is near. One analyst said in a research note that a Chapter 11 filing is highly likely soon. Delta was mum Tuesday on its intentions, except to repeat a prior statement that it will have to seek court protection if it fails to restructure its heavy debt and win pilot concessions.

Fannie Mae probe expanded by SEC

Mortgage giant Fannie Mae is now the target of a formal inquiry by the Securities and Exchange Commission over its accounting practices, the company said in a regulatory filing Tuesday. The inquiry means that federal regulators may now subpoena documents, as well as require the testimony of company employees.

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