The organizers of next week’s MexicoNow aerospace conference in Seattle have canceled the event after protest from the Boeing Co.’s unions in the Puget Sound region. MexicoNow is bimonthly business magazine published in Mexico. Boeing’s Machinists Union had threatened to protest outside the hotel where the conference was to be held as well as outside area businesses, like Boeing, that were taking part in the conference. Boeing’s unions oppose the outsourcing of more aerospace jobs. Sergio Ornelas, MexicoNow’s editor, called the protest threat “sad” since aerospace is a global industry.
Grocery workers to vote next week
Union members for grocery workers in Snohomish, King, Kitsap and Mason counties will vote on a proposed contract on Wednesday, Thursday and Friday of next week. The only location in Snohomish County is the Lynnwood Convention Center, Rooms D,E, and F, 3711 196th St. SW. Voting will take place there from 8 a.m. until noon and from 4 to 8 p.m. on Thursday The locations include Bellevue’s Meydenbauer Center and the Seatac Doubletree Hotel on Wednesday, the Seattle Center on Thursday and the Kitsap Convention Center in Bremerton on Friday.
Qantas to restart jumbo jet flights
Australian airline Qantas Airways Ltd. said Tuesday that it will restart some of its Airbus A380 services this weekend. The company said it intends to progressively reintroduce its other massive A380 planes back into its international network. Qantas grounded its six A380s Nov. 4 after a Rolls-Royce engine blew apart on an A380 in mid-flight.
Investors to take J.Crew private
Preppy fashion retailer J. Crew Group Inc. on Tuesday agreed to be taken private in a $3 billion deal that would be the second multibillion dollar specialty retail buyout launched in two months. The announcement of an offer from two investment firms — including one that used to own J. Crew — came as the retailer reported Tuesday that its third-quarter net income fell 14 percent. Under the deal as proposed, J. Crew shareholders would receive $43.50 per share from private equity firms TPG Capital and Leonard Green &Partners. That is a 16 percent premium to the stock’s closing price Monday of $37.65.
GM IPO brings in $11.7 billion for U.S.
The Treasury Department says it has received $11.7 billion from the sale of 358.5 million shares of General Motors stock. Treasury announced that the net proceeds from the GM stock sold last week were delivered on Tuesday. Treasury officials said that the government could receive an additional $1.8 billion assuming the bankers exercise options to purchase an additional 53.8 million shares of GM common stock within 30 days of the initial stock offering. The government gave GM $49.5 billion as part of its bailout.
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
