Business Briefly

Gasoline prices in the Seattle-Bellevue-Everett area stood a few tenths of a penny above $2.50 per gallon Monday, just three-tenths of a cent away from a new record, according to AAA’s tracking service. The average price was 14 cents higher than a month ago and 52 cents above the per-gallon price for regular unleaded fuel a year ago.

Whidbey bank to pay dividend

The parent company of Whidbey Island Bank said Monday that it will pay a 5.5-cent quarterly dividend. Washington Banking Co. of Oak Harbor will make the payment Aug. 29 to shareholders of record as of Aug. 12. The dividend is unchanged from the previous quarter.

Boeing Net service wins Intel approval

Intel Corp. gave the Boeing Co.’s aerial Internet service a stamp of approval Monday, announcing that Boeing’s Connexion service had been verified through Intel’s Wireless Verification Program. That means that Connexion is compatible with Intel’s Centrino technology, which is used on many wireless laptop computers.

Aug. 31 vote set for Quinton merger

Cardiac Science, the California company planning to merge with Bothell-based Quinton Cardiology Systems, has set a shareholders’ vote for Aug. 31. Quinton’s shareholders also will vote at that day at 10 a.m. at its Bothell headquarters. The combined company, which will make heart defibrillators and monitoring devices, will be based in Bothell.

Bothell biotech loses $8.3 million

Nastech Pharmaceutical Co. reported a net loss of $8.3 million, or 47 cents per share, in the second quarter, compared to a $7.5 million loss a year ago. Revenue, however, improved from $45,000 in the second quarter of last year to $1.6 million this year. Nastech also plans to offer more than 1.5 million shares of its stock in a secondary public offering.

T-bill rates rise in Monday auction

The Treasury Department auctioned three-month bills at a discount rate of 3.4 percent, up from 3.345 percent last week. Six-month bills were auctioned at a discount rate of 3.6 percent, up from 3.54 percent last week. The new discount rates understate the actual return to investors – 3.477 percent for three-month bills with a $10,000 bill selling for $9,914.06 and 3.718 percent for a six-month bill selling for $9,818.00. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, rose to 3.77 percent last week from 3.68 percent.

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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.)
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Catherine Robinweiler leads the class during a lab session at Edmonds College on April 29, 2021. (Kevin Clark / The Herald)
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(Peoples Bank)
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Dan Bates / The Herald
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Photo Taken: 102312
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