The Port of Everett commission is expected to decide today on whether to build a new administration building on the waterfront as part of its $400 million redevelopment project. The board has been split between the idea of consolidating its staff by building the $7 million project and leasing out a good part of it, or staying in the building it now occupies on Bond Street.
Top executive to leave Qwest
Richard Notebaert, who pulled a troubled Qwest Communications Inc. from the brink of bankruptcy amid a multibillion-dollar accounting scandal, announced plans Monday to retire as chairman and chief executive officer. Qwest shares fell 8 percent.
State: smoking ban didn’t hurt bars
The state’s ban on smoking apparently had no serious effect on income for most bars and taverns, officials at the state Department of Revenue said Monday. Before the ban, those businesses saw income grow about 1.1 percent a year from 2002 to 2005, officials said. During 2006, during which the ban was in effect all year, bar business increased 0.3 percent, according to the state tax agency. State officials note some businesses may have been hard-hit by the ban, but the effects were minimal on the majority of taverns.
Trade surplus keeps soaring
China’s politically sensitive trade surplus soared in May to the third-highest monthly level on record, according to government figures released Monday, amid growing pressure from U.S. lawmakers for sanctions against Beijing.
T-bill rates fall in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 4.64 percent Monday, down from 4.71 percent last week. Six-month bills were auctioned at a discount rate of 4.765 percent, down from 4.79 percent. The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,882.71 while a six-month bill sold for $9,759.10. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged up to 4.98 percent last week from 4.96 percent the previous week.
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