Cognigen Networks Inc., a Mountlake Terrace-based firm that markets and resells Internet-based communications services, reported the resignation of Thomas Smith, its president and chief executive officer. He will remain on the company’s board of directors. Cognigen’s chief financial officer, Gary Cook, was appointed by the board to serve as interim CEO.
Unova Inc. shares hit all-time high
Shares of Unova Inc., the Everett-based parent of Intermec Technologies, reached a new all-time high of $35.77 on Monday. Exactly three years ago – Oct. 3, 2002 – the stock closed trading at just $4.82 a share. Unova is the largest public company based in Snohomish County, with a market value exceeding $2.2 billion.
Minimum wage will rise to $7.63 an hour
Washington state’s hourly minimum wage will rise 28 cents on Jan. 1 to $7.63, the state reported. The state Department of Labor and Industries determines the rate each September according to the change in the federal consumer price index. The local index increased 3.8 percent during the 12 months ending Aug. 31.
EvCC to add metal trades students
Everett Community College has received a $180,000 grant to increase enrollment in its metal trades programs. The grant will allow for 20 more students in the precision machining and welding-fabrication programs, helping to meet a shortage of workers, officials said.
El Al Israel Airline to buy two 777s
El Al Israel Airline plans to buy two 777s from the Boeing Co., according to Israel newspaper reports. The Jerusalem Post reported the airline will pay $246 million for two 777-200ER jets, which would be more than 25 percent off Boeing’s list price for the planes. A Boeing spokesman was not immediately available for comment Monday.
Short-term T-bills hit four-year highs
The Treasury Department auctioned three-month bills at a discount rate of 3.525 percent, up from 3.44 percent last week. The Treasury auctioned six-month bills at a discount rate of 3.87 percent, up from 3.745 percent. The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the price for a three-month bill was $9,910.90, while a six-month bill sold for $9,804.35. The Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 3.97 percent last week from 3.88 percent.
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