Congress has given final authorization for $14 million in defense contracts with two Snohomish County companies. Intermec of Everett will receive $6 million to improve the Air Force’s maintenance records system, which is expected to cut the amount of time jets spend on the ground. Intermec also will receive a $5 million contract for an Internet-based system that will improve the tracking of aircraft parts. And CombiMatrix of Mukilteo will receive $3 million for a new system for detecting biological and chemical warfare agents. The contracts, which were authorized by the Senate earlier, were approved by the House of Representatives this week. They included in a defense spending bill that now goes to President Bush to be signed into law. “These companies provide services that will enhance our nation’s military readiness, and these funds will help grow local economies, said U.S. Rep. Rick Larsen, D-Wash.
America’s factories saw orders for costly manufactured goods tumble in August, while homes sales soared, showing two sides of the fragile economic recovery. New orders for big-ticket durable goods – items expected to last at least three years – dropped by 0.9 percent last month, the first decline since April, the Commerce Department reported Thursday.
Eastman Kodak Co. slashed its generous dividend by more than 70 percent – its first dividend cut ever – as it scrambles to redirect resources into the fast-growing digital market and away from its conventional film business. Investors didn’t like what they heard, sending the stock down 18 percent to $22.15, its lowest level in almost 20 years. Kodak said Thursday’s move, reducing the $1.80 annual dividend to 50 cents a share, will allow it to boost digital investment by up to $3 billion over three years.
Two companies are recalling some 85,000 gas grills and other components because of flame hazards and risk of lacerations. Marshall Gas Controls of San Marcos, Texas, is recalling 35,000 defective gas controls and regulators that were sold with Char-Broil, Kenmore and Thermos brand grills in April and May, the Consumer Product Safety Commission said Thursday. To receive a replacement regulator, call the Grill Service Center at 800-241-7548. Grand Hall Enterprise Co. of Taiwan is also recalling 50,000 Member’s Mark gas grills following several reports that the product’s front edge is too sharp and a risk for cuts, the safety commission said. To receive a repair kit, call Grand Hall at 888-735-5709 or go to www.grandhall.com.
From Herald staff and
news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
