A Whidbey Island shipbuilder has called back at least 50 employees after closing its doors in early November. Nichols Brothers Boat Builders Inc. has sought bankruptcy protection after a federal lawsuit over a contract was filed against the company. Nichols Brothers could bring back another 15 to 20 employees to work on two active contracts, said Bryan Nichols, president of the company. The largest private employer on Whidbey Island, Nichols is in talks with another company to keep shipbuilding afloat on the island.
Stanwood retailers open late tonight
Many businesses in downtown Stanwood will stay open until 8 tonight, offering refreshments, special deals and some holiday spirit to shoppers. Shop Stanwood Night organizers have been encouraging businesses to plan on serving hot cider, coffee and holiday treats and to offer hourly specials or coupons to entice new customers. Carolers from Stanwood High School will be visiting stores.
Lynnwood firm forms subsidiary
Lynnwood based Worldwide Water Inc. has formed a new subsidiary. Cascade EcoSolutions, based in Bothell, will be dedicated to creating eco-friendly products for a wide spectrum of commercial and industrial applications. Its flagship product, ChitoVan, is an affordable, biodegradable polymer that removes sediment, heavy metals and organic contaminants from dirty water. It’s made from recycled seafood processing waste.
Bush freeze offers foreclosure relief
Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months. Bush has been accused of moving too slowly to address a crisis that has spread to the broader financial market. But he also was careful not to sound as if he were imposing a government solution and violating his free-market principles. He billed his plan as a voluntary, private-sector arrangement that involves no government money. Bush said 1.2 million people could be eligible for help. But only a fraction will be subject to the rate freeze. Others would get assistance in refinancing with their lenders and moving into loans secured by the Federal Housing Administration, Bush said.
Canadian growers feel dollar’s swoon
The drooping value of the U.S. dollar means Canadian Christmas tree growers are seeing less green this season. Canadian Christmas tree growers have seen their U.S. sales decline in recent years because of increasing costs and competition from U.S. growers. But it’s their own currency that’s causing them the most grief these days. Compared to the U.S. greenback, the Canadian dollar is 15 percent higher in value than it was at the beginning of the year. Because growers are paid in U.S. dollars, their revenues are dropping by the same amount. All exporters of products are affected, but Christmas trees are an especially visible example at this time of year.
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