Business briefs
Published 9:00 pm Tuesday, January 24, 2006
Up to 900 Verizon telephone customers in south Marysville lost service Tuesday after one of the company’s cables was cut. Someone clearing land near Skippers restaurant in the 1000 block of State Avenue accidentally cut the line, Verizon spokesman Kevin Laverty said. That cut off service to customers south of that point along the west side of State Avenue, including Marysville Town Center. Service should be restored by late today.
University to buy CombiMatrix tools
University of California-Davis researchers will buy customized genomic analysis tools from Mukilteo’s CombiMatrix Corp. under an agreement announced Tuesday. UC-Davis is the second university to sign up with CombiMatrix since the company began a new program aimed at research partners this month.
Underwriting profits a boost for Safeco
Financial services holding company Safeco Corp. said Tuesday its fourth-quarter earnings rose after its businesses produced underwriting profits. Safeco’s net income increased to $190.7 million, or $1.53 a share, from $179.8 million, or $1.41 a share, in the fourth quarter of 2004.
Railroads report a surge in profits
Profits surged at two of the nation’s largest railroads in the fourth quarter as the growing economy increased demand to move everything from coal to consumer goods. Burlington Northern Santa Fe Corp., the nation’s second-largest railroad company, said Tuesday its fourth-quarter earnings rose 24 percent. CSX Corp., the largest rail operator in the eastern United States, said profits more than tripled from a year ago, a jump magnified by a year-ago loss from a business the company has since sold. Burlington Northern’s chairman and chief executive, Matthew Rose, said the demand for rail freight service was unprecedented.
IBM faces suit on OT practices
International Business Machines Corp. was sued in federal court on Tuesday for allegedly not paying overtime to tens of thousands of rank-and-file employees. The suit was filed in U.S. District Court on behalf of three current and former workers, and seeks class-action status to represent computer installers and maintenance workers for IBM throughout the United States. Lawyers said they are seeking millions of dollars in back pay. They are also considering punitive damages.
From Herald staff
and wire services
