First Heritage Bank, which operates six branches in Snohomish County, said its capital has increased by 7.6 percent to $17.96 million as of June 30. That compares with $16.98 million at the end of 2006. The improvement prompted the board of directors to declare a special dividend of 10 cents per share cash to its more than 1,200 shareholders of record. This dividend is in addition to the 10 percent stock dividend issued in April.
Boeing’s Carson named WSU regent
Gov. Chris Gregoire has appointed Scott Carson, president of Boeing Commercial Airplanes, to the board of regents at Washington State University. Carson received his Bachelor of Arts in business administration from WSU. He went on to receive a master’s degree from the University of Washington. Carson joined the Boeing Co. in 1973 and served as chief financial officer and head of sales before becoming president of the division last year.
Millionth iPhone sold, Apple says
Apple Inc. sold its millionth iPhone over the weekend, days after it slashed the price by a third to spur sales. It took just 74 days for the combination cell phone-iPod to hit the 1 million mark, which Apple had said it would achieve by the end of September. By comparison, it took two years for the company to sell 1 million iPods, Apple CEO Steve Jobs noted in a statement. Last week, Apple knocked $200 off the price of the 8-gigabyte iPhone, bringing its price to $399.
Consumer debt keeps growing
Consumers kept charging at a rapid pace on their credit cards in July, although overall borrowing slowed a bit. The Federal Reserve reported that consumer credit rose at an annual rate of 3.7 percent in July, down from a 5.9 percent growth rate in June. The slowdown reflected a big drop in borrowing in the category that includes auto loans. The category that includes credit cards saw an increase as consumers turned to their credit cards now that home equity lines of credit are becoming harder to obtain.
OPEC considers boosting oil output
OPEC weighed a push by some members Monday to modestly boost its production quota amid stubbornly high oil prices and expectations of a spike in the global demand for crude. On the eve of today’s meeting of the Organization of Petroleum Exporting Countries, at least seven members — Iran, Iraq, Kuwait, Libya, Nigeria, Qatar and Venezuela — all said they believed the markets were amply supplied. But analysts and officials said some Gulf states were pressing for a small increase in production.
Few airline workers accept buyouts
Southwest Airlines Co. said Monday that 609 employees accepted buyouts to leave the company, just 7 percent of the workers eligible for the offer. The Dallas-based airline said in July that it would offer early-out packages to about one-fourth of its work force in an effort to cut costs as it deals with slower growth and high fuel costs and faces contract negotiations that could result in higher wages.
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