Business Briefly: Beam placed in 787 factory in Charleston

The Boeing Co. made progress on its new 787 factory in Charleston, S.C., placing the first steel beam at the site Monday. “This new facility will expand our production capability and strengthen the 787 program as we work toward (our goal) rate,” said Marco Cavazzoni, Boeing general manager of the facility. Boeing workers in Charleston already fabricate, assemble and install systems for 787 aft fuselage sections and join midbody fuselage sections from Boeing’s other partners. In the new 1.2-million-square-foot building, Boeing Charleston workers will perform final assembly and deliver 787s to customers around the world. Boeing plans to deliver the first 787 from Everett later this year. After that, the company faces the challenge of ramping up production to its goal of 10 Dreamliners monthly. To accommodate the ramp-up, Boeing announced last fall that it had selected Charleston, over Everett, as the site for its second 787 final assembly line. Boeing said Monday that construction is on schedule in Charleston to begin production in July 2011.

Port of Everett shipping schedule

The Port of Everett has seen 20 ships and 13 barges visit so far this year, compared to 98 ship visits and 53 barge calls in 2009. Here’s a look at this month’s schedule: Today, the vessel Westwood Olympia, operated by Westwood; Monday, BBC Kwiatkowski, BBC Chartering; April 13, Santiago, Westwood; April 20, Westwood Rainier, Westwood; April 27, Sevilla, Westwood; April 29, BBC Atlantic, Fesco; April 30, Bright Stream, Eastern Car Liner.

Allstate CEO makes $9.4 million in 2009

Allstate Corp. gave its chief executive a pay package worth $9.4 million in 2009, which was about 34 percent more than in the previous year, according to a regulatory filing. The pay raise for Thomas Wilson came as the property and casualty insurer staunched steep investment losses to help post a profit for the full year. Wilson had earned $7 million in the previous year, according to an Associated Press analysis of a filing with the Securities and Exchange Commission. In 2009, Wilson earned a base salary of $1.1 million, which was an increase of 6 percent. His performance-based compensation was $1.7 million, more than double the $736,261 he got in 2008. Wilson also got stock and options worth $6.5 million when they were granted.

T-bill rates increase in Monday auction

The Treasury Department auctioned three-month bills Monday at a discount rate of 0.175 percent, up from 0.145 percent last week. Six-month bills were auctioned at a 0.265 percent, up from 0.24 percent last week. For a $10,000 bill, the three-month price was $9,995.58, while a six-month bill sold for $9,986.60. 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 0.43 percent last week from 0.42 percent.

From Herald staff reports and news services

Talk to us

> Give us your news tips.

> Send us a letter to the editor.

> More Herald contact information.

More in Business

A closing sign hangs above the entrance of the Big Lots at Evergreen and Madison on Monday, July 22, 2024, in Everett, Washington. (Ryan Berry / The Herald)
Big Lots announces it will shutter Everett and Lynnwood stores

The Marysville store will remain open for now. The retailer reported declining sales in the first quarter of the year.

George Montemor poses for a photo in front of his office in Lynnwood, Washington on Tuesday, July 30, 2024.  (Annie Barker / The Herald)
Despite high mortgage rates, Snohomish County home market still competitive

Snohomish County homes priced from $550K to $850K are pulling in multiple offers and selling quickly.

Henry M. Jackson High School’s robotic team, Jack in the Bot, shake hands at the 2024 Indiana Robotics Invitational.(Henry M. Jackson High School)
Mill Creek robotics team — Jack in the Bot — wins big

Henry M. Jackson High School students took first place at the Indiana Robotic Invitational for the second year in a row.

The computer science and robotics and artificial intelligence department faculty includes (left to right) faculty department head Allison Obourn; Dean Carey Schroyer; Ishaani Priyadarshini; ROBAI department head Sirine Maalej and Charlene Lugli. PHOTO: Arutyun Sargsyan / Edmonds College.
Edmonds College to offer 2 new four-year degree programs

The college is accepting applications for bachelor programs in computer science as well as robotics and artificial intelligence.

FILE — Boeing 737 MAX8 airplanes on the assembly line at the Boeing plant in Renton, Wash., on March 27, 2019. Boeing said on Wednesday, Feb. 21, 2024, that it was shaking up the leadership in its commercial airplanes unit after a harrowing incident last month during which a piece fell off a 737 Max 9 jet in flight. (Ruth Fremson/The New York Times)
Federal judge rejects Boeing’s guilty plea related to 737 Max crashes

The plea agreement included a fine of up to $487 million and three years of probation.

Neetha Hsu practices a command with Marley, left, and Andie Holsten practices with Oshie, right, during a puppy training class at The Everett Zoom Room in Everett, Washington on Wednesday, July 3, 2024. (Annie Barker / The Herald)
Tricks of the trade: New Everett dog training gym is a people-pleaser

Everett Zoom Room offers training for puppies, dogs and their owners: “We don’t train dogs, we train the people who love them.”

Andy Bronson/ The Herald 

Everett mayor Ray Stephenson looks over the city on Tuesday, Jan. 5, 2015 in Everett, Wa. Stephanson sees  Utah’s “housing first” model – dealing with homelessness first before tackling related issues – is one Everett and Snohomish County should adopt.

Local:issuesStephanson

Shot on: 1/5/16
Economic Alliance taps former Everett mayor as CEO

Ray Stephanson will serve as the interim leader of the Snohomish County group.

Molbak's Garden + Home in Woodinville, Washington will close on Jan. 28. (Photo courtesy of Molbak's)
After tumultuous year, Molbak’s is being demolished in Woodinville

The beloved garden store closed in January. And a fundraising initiative to revitalize the space fell short.

Everett Mayor Cassie Franklin, Advanced Manufacturing Skills Center executive director Larry Cluphf, Boeing Director of manufacturing and safety Cameron Myers, Edmonds College President Amit Singh, U.S. Rep. Rick Larsen, and Snohomish County Executive Dave Somers participate in a ribbon-cutting ceremony on Tuesday, July 2 celebrating the opening of a new fuselage training lab at Paine Field. Credit: Arutyun Sargsyan / Edmonds College
‘Magic happens’: Paine Field aerospace center dedicates new hands-on lab

Last month, Edmonds College officials cut the ribbon on a new training lab — a section of a 12-ton Boeing 767 tanker.

Gov. Jay Inslee presents CEO Fredrik Hellstrom with the Swedish flag during a grand opening ceremony for Sweden-based Echandia on Tuesday, July 30, 2024, in Marysville, Washington. (Ryan Berry / The Herald)
Swedish battery maker opens first U.S. facility in Marysville

Echandia’s marine battery systems power everything from tug boats to passenger and car ferries.

Helion Energy CEO and co-founder David Kirtley talks to Governor Jay Inslee about Trenta, Helion’s 6th fusion prototype, during a tour of their facility on Tuesday, July 9, 2024 in Everett, Washington. (Olivia Vanni / The Herald)
State grants Everett-based Helion a fusion energy license

The permit allows Helion to use radioactive materials to operate the company’s fusion generator.

People walk past the new J.sweets storefront in Alderwood Mall on Thursday, July 25, 2024, in Lynnwood, Washington. (Olivia Vanni / The Herald)
New Japanese-style sweets shop to open in Lynnwood

J. Sweets, offering traditional Japanese and western style treats opens, could open by early August at the Alderwood mall.

Support local journalism

If you value local news, make a gift now to support the trusted journalism you get in The Daily Herald. Donations processed in this system are not tax deductible.