The Port of Everett has reopened 163 moorage slips in its marina that have been repaired, replaced or reconfigured. The work, which began in September, cost $5.6 million and included installation of a gangway that meets the requirements of the Americans with Disabilities Act. The port also removed numerous creosote-covered pilings to help improve water quality and upgraded the electrical utilities at the slips. The next phase will involve covered docks.
Ford to get loan to improve mileage
The Energy Department is lending money to the Ford Motor Co. from a $25 billion fund to develop fuel-efficient vehicles, congressional officials said Monday. Energy Secretary Steven Chu was scheduled to make the announcement Tuesday in Dearborn, Mich., the officials said. They requested anonymity because an official announcement was pending. Dozens of auto companies, suppliers and battery makers have sought a total of $38 billion from the loan program. Ford has asked to receive $5 billion in loans by 2011.
Boeing announces quarterly dividend
The Boeing Co.’s board of directors Monday continued a regular quarterly dividend of 42 cents per share. The dividend is payable Sept. 4 to shareholders of record as of Aug. 7.
Kodak to retire storied Kodachrome
Tough luck, Paul Simon — your Kodachrome is being taken away. Eastman Kodak Co. announced Monday that it was retiring the 74-year-old Kodachrome color film as photographers gravitate to digital cameras and newer films. About 70 percent of the company’s revenue comes from its digital sales. In 1973, Simon immortalized the film’s “nice bright colors” in his song “Kodachrome.” Photojournalist Steve McCurry’s widely recognized portrait of an Afghan refugee girl, shot on Kodachrome, appeared on the cover of National Geographic in 1985. At Kodak’s request, McCurry will shoot one of the last rolls and donate the images to the George Eastman House museum.
T-bill rates rise in Monday auction
The Treasury Department auctioned $31 billion in three-month bills at a discount rate of 0.195 percent, up from 0.16 percent last week. Six-month bills was auctioned at a discount rate of 0.335 percent, up from 0.29 percent last week. For a $10,000 bill, the three-month price was $9,995.07 while a six-month bill sold for $9,983.06. That would equal an annualized rate of 0.198 percent for the three-month bills and 0.340 percent for the six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, fell to 0.51 percent last week from 0.56 percent the previous week.
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