Skagit Gardens Inc. of Mount Vernon has been purchased by a Portland, Ore., investment company. Aequitas Capital Management announced that its Catalyst Fund had purchased the wholesale grower and would help it expand. Skagit Gardens was begun in 1966 and provides annuals and perennials throughout the United States and Canada.
Discount carrier cuts worker pay
Discount carrier AirTran Airways said Wednesday it is seeking to cut its overall employee pay by about 10 percent to help offset soaring fuel prices, and it warned that it may need to cut wages further in the future. “Our plan is to temporarily reduce pay rates for six months commencing with the start of the August pay period, and we will then review the situation again,” Chief Executive Bob Fornaro told employees in a memo.
American cuts 900 attendants
American Airlines says it could cut 900 flight attendant jobs as it reduces flights to cope with record high fuel costs. The Fort Worth-based airline expects to reduce jobs for pilots and mechanics, too, but it hasn’t released numbers yet. American, the nation’s largest carrier, said Wednesday that job cuts were necessary “to overcome near-term challenges and secure our company’s long-term future.”
May slowdown for factories
Orders to U.S. factories turned in the slowest performance in three months in May as a surge in demand for commercial aircraft was not enough to offset weakness in autos, heavy machinery and steel. Factory orders rose by 0.6 percent in May, less than half the gains turned in during April and March, the Commerce Department reported Wednesday. It was the poorest showing since factory orders had fallen by 0.4 percent in February. Analysts said the figures for the past three months have been inflated by big increases in the cost of refined petroleum and related products such as chemicals, which have been soaring because of the rising cost of global oil prices.
State orders worker cooldown
A new rule to protect workers from heat takes effect Saturday in Washington. The Department of Labor and Industries says the rule requires employers and supervisors to take precautions against heat-related illnesses, such as providing more drinking water on hot days.
Ex-CEO at Airbus faces charges
A judicial official says French investigating judges have filed preliminary charges against former Airbus CEO Gustav Humbert in an investigation into alleged insider trading. Humbert is the third former executive at Airbus or its parent company, the European Aeronautic Defence and Space Co., to face charges in the investigation. The official says judges filed the charges Wednesday in Paris. The judicial official is not authorized to be named publicly about such matters. Judges are investigating stock trades at EADS in 2005 and 2006.
From Herald staff and wire services
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