Nichols Bros. Boat Builders on Whidbey Island has exited bankruptcy and is poised to return to full operations under new ownership. The sale of the business, which filed for Chapter 11 in November, closed this week. The company named Len York as the new chief executive officer, and members of the Nichols family were given new management positions. Matt Nichols, former chief executive, will remain as a managing director. The company plans to hire about 100 workers.
Comcast expands high-def offerings
Comcast, Snohomish County’s largest cable television provider, is launching six new high-definition channels on March 4. The new channels will include Animal Planet HD, Discovery Channel HD, The Learning Channel HD, Home and Garden TV HD, Food Network HD and Sci Fi HD. The new channels give Comcast’s system in the region 31 high-definition channels.
Utilities fuel boost in industrial output
The nation’s industrial output posted a modest increase in January, but all of the strength came from a weather-related jump in output at utility companies. The Federal Reserve reported Friday that industrial production rose by 0.1 percent in January, a weak showing which matched the December increase and was in line with expectations.
U.S., Australia reach air route pact
Australia and the United States have reached a bilateral “open skies” aviation agreement, clearing the way for increased competition on one of the world’s most lucrative and protected long-haul routes. The bilateral agreement abolishes all restrictions on U.S. and Australian air services for carriers of both countries, ending a virtual lock on the route held by Qantas and United Airlines.
Former brokerage chief pleads guilty
The former chief executive of Refco Inc., one of the world’s biggest commodities brokerages, cried as he pleaded guilty Friday to conspiracy and fraud charges that carry a possible prison term of more than 300 years. Phillip R. Bennett, 59, the company’s former chairman and chief executive, is charged with hiding losses by his firm and its customers from its auditors and investors.
Wal-Mart picks side in HD DVD battle
Wal-Mart Stores Inc. has picked Blu-ray over HD DVD in the market battle for the format of high-definition video. The nation’s largest retailer said Friday it has decided to sell only Blu-ray DVDs and hardware in its 4,000 U.S. stores and no longer carry rival HD DVD offerings.
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