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
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