The Port of Everett will celebrate the completion of the 14th Street bulkhead project with a ribbon-cutting ceremony from 11:30 a.m. to 1 p.m. today The completion marks one of many milestones in the port and Maritime Trust Co.’s new $300 million Port Gardner Wharf project. It took almost a year and cost approximately $10 million to replace the area’s failing bulkhead. The project improves the marina’s edge by adding four new gatehouses, new approach piers and floats, a spacious waterfront walkway and a distinctive railing that will eventually surround most of the 65-acre redevelopment project.
City Bank reports strong earnings
City Bank, which trades on the Nasdaq stock exchange under the symbol CTBK, announced record earnings Wednesday of $17.42 million for the six months ended June 30. The earnings are a 79.65 percent increase over the $9.7 million earned during the same period in 2005. All prior period results have been reclassified to show the operating results of Diligenz and Merchant Cards as discontinued operations with no effect on net income or shareholders’ equity. Consolidated net income for the quarter ended June 30 was $9.21 million, an increase of $4.53 million or 96.81 percent compared to $4.68 million for the second quarter of 2005.
MySpace promotes safe use of Internet
The parent firm of MySpace.com and Fox is devoting millions of dollars in television air time and online ad space for a public service campaign on Internet safety. Central to News Corp.’s campaign, announced Thursday, is a spot featuring Kiefer Sutherland, who plays Jack Bauer on the Fox drama “24.” “On TV Jack Bauer has 24 hours to make the world safe. In real life it only takes a few minutes to do the same for our kids,” Sutherland says. “To protect them you don’t need the latest state-of-the-art technology. You just need a few simple tips: Don’t let them run into trouble on the Internet – use common sense.”
Dell shares decline on sales prediction
Shares of Dell Inc. plunged to a 52-week low Wednesday after an analyst report predicted the company will face continued slow sales amid weak demand in Europe and for corporate PCs and servers. Shares of the Round Rock, Texas, company fell 4.44 percent, or $1.04 per share, to close at $22.38 Wednesday on the Nasdaq Stock Market.
Toyota and Nissan recall SUVs, sedans
Toyota Motor Corp. is recalling 367,500 Toyota and Lexus sport utility vehicles in the United States because a piece in the front console area could come loose and interfere with the gas pedal. In a separate announcement Wednesday, Nissan North America Inc. said it would recall nearly 201,000 Altima and Sentra sedans from the 2003 model year to fix a faulty sensor that can cause the engine to shut down. Toyota’s recall involves 2004-05 models of the Toyota Highlander and Lexus RX 330 and early 2006 models of the Highlander hybrid SUV and the RX 400h, the hybrid version of the RX 330, said Toyota spokesman Bill Kwong. A clip could come loose and allow a small trim piece of the console, located on the center-left side of the front compartment, to interfere with the accelerator.
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