Goodrich Corp. says it will realize between $4 billion and $5 billion worth of business from the Joint Strike Fighter over the life of the program. But none of that will come to Goodrich’s Everett facility, until perhaps “incredibly long-term into the contract,” a spokeswoman said Monday. Goodrich said Monday it has signed a $70 million-plus contract for the initial design and development for the landing gear and undercarriage with Lockheed Martin, which beat The Boeing Co. to win the $200 billion JSF contract. Goodrich also will provide components for fuel gauges and related wire harnesses for the fuel measuring system. But Goodrich doesn’t do that kind of work in the Pacific Northwest, spokeswoman Gail Warner said. The contract won’t provide enough of an employment boost to lessen projected layoffs of 2,400 workers companywide, Warner added. Goodrich announced the layoffs last month, along with plans to close 16 plants around the country. Those layoffs will be in addition to the ones at Everett. Goodrich has released 305 of its workers here, according to state Employment Security Department officials. However, that’s less, than the 400 to 450 they initially planned to let go.
Interest rates on short-term Treasury securities fell in Monday’s auction, with six-month rates falling to their lowest level on record. The Treasury Department sold $16 billion in three-month bills at a discount rate of 1.975 percent, down from 2.050 percent last week. An additional $15 billion was sold in six-month bills at a rate of 1.920 percent, down from 2.005 percent. The three-month rate was the lowest since Aug. 18, 1958, when the bills sold for 1.895 percent. The six-month rate was the lowest since the government began selling the bills in 1958. The new discount rates understate the actual return to investors – 2.012 percent for three-month bills with a $10,000 bill selling for $9,950.10 and 1.966 percent for a six-month bill selling for $9,902.90. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable rate mortgages, fell to 2.11 percent last week from 2.31 percent the previous week.
Arlington-based US Marine Corp. announced the promotion of J.D. Sienicki Monday to senior vice president for engineering and product development. It also announced that Paul Cherney had been named to the new position of vice president of the Bayliner yacht division. Sienicki joined the company in 1998 as a vice president in engineering and product development. Cherney fills a new position in which he’ll be responsible for yacht sales and distribution.
From Herald news services
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