ICOS to offer public stock

Bothell’s ICOS Corp. announced Thursday that it will raise funds through a public offering of 4.5 million shares of common stock. ICOS is a biotechnology company awaiting federal approval to market its first product, Cialis, an impotency drug. The company has granted the underwriters an option to purchase 675,000 shares of stock to cover overallotments. Credit Suisse First Boston and Merrill Lynch, Pierce, Fenner &Smith will act as joint lead managers for the offering. SG Cowen Securities, Banc of America Securities and Robertson Stephens will act as co-managers.

One of the planners working on the proposed Lynnwood City Center will discuss the rebirth of downtown retail when the South Snohomish County Chamber of Commerce meets Nov. 14. The meeting will be from noon to 1:30 p.m. at the Holiday Inn Hotel and Conference Center, 101 128th St., Everett. The speaker is Robert Gibbs of Gibbs Planning Group in Birmingham, Mich. His group looks at reviving downtowns as an alternative to suburban sprawl. He will discuss issues of city center planning with an emphasis on retail business and the “psychology of commerce.” The cost is $20, which covers lunch. For reservations, call 425-774-0507 or e-mail rise@sscchamber.org.

United Airlines and Delta Air Lines, the nation’s second- and third-largest carriers, reported massive third-quarter losses on Thursday and said eroding revenues won’t improve anytime soon. United’s parent, UAL Corp. of Elk Grove Village, Ill., said it lost $1.16 billion for the three months ended Sept. 30. That was better than most analysts expected. Delta’s quarterly loss, equal to $2.13 a share, included a $104 million after-tax infusion from the government.

The Boeing plant might close. The Goodrich factory faces layoffs. The high-tech sector is in shambles. Stock in the local utility is at its lowest price since the Reagan administration. The biggest local manufacturer, Kaiser Aluminum, won’t reopen its plants for at least another year. A landmark local men’s clothier is closing all its stores. All at once the Spokane economy is a mess. It’s an offshoot of the slumping world financial picture and the struggling national economy, which was further undercut by the Sept. 11 terrorist attacks. “It’s all international,” said Fred Walsh, who analyzes the Spokane economy for the state Employment Security department. Companies such as Boeing, Goodrich, Agilent, Kaiser Aluminum and Key Tronic are vulnerable to shifts in the world economy, he said.

Herald news services

Talk to us

More in Herald Business Journal

FILE - In this file photo dated Monday, March 11, 2019, rescuers work at the scene of an Ethiopian Airlines plane crash south of Addis Ababa, Ethiopia.  The number of deaths in major air crashes around the globe fell by more than half in 2019 according to a report released Wednesday Jan. 1, 2020, by the aviation consultancy To70, revealing the worst crash for the year was an Ethiopian Airlines Boeing 737 MAX on March 10 that lost 157 lives. (AP Photo/Mulugeta Ayene, FILE)
US board says Boeing Max likely hit a bird before 2019 crash

U.S. accident investigators disagree with Ethiopian authorities over the cause of a 2019 Boeing 737 Max crash.

Paddywack co-owner Shane Somerville with the 24-hour pet food pantry built by a local Girl Scout troop outside of her store on Tuesday, Dec. 20, 2022 in Mill Creek, Washington. (Olivia Vanni / The Herald)
An out-paw-ring of support: Mill Creek pantry feeds pets, day or night

With help from local Girl Scouts, the Mill Creek pet food store Paddywack is meeting the need for pet supplies in a pinch.

Kelly Cameron is the woodworker behind Clinton-based business Turnco Wood Goods. (David Welton)
Whidbey woodworkers turn local lumber into art

In the “Slab Room” at Madrona Supply Co., customers can find hunks of wood native to the south end of Whidbey Island.

Siblings Barbara Reed and Eric Minnig, who, co-own their parent’s old business Ken’s Camera along with their brother Bryan, stand outside the Evergreen Way location Thursday, Dec. 15, 2022, in Everett, Washington. After five decades in business, Ken’s will be closing its last two locations for good at the end of the year. (Ryan Berry / The Herald)
Print it or lose it: Ken’s Camera closes after decades caught on film

The local legend, processing film photos since 1971, will close its locations in Mount Vernon and Everett at the end of 2022.

Store owner Jay Behar, 50, left, and store manager Dan Boston, 60, right, work to help unload a truck of recliners at Behar's Furniture on Monday, Jan. 16, 2023. Behar's Furniture on Broadway in Everett is closing up shop after 60 years in business. The family-owned furniture store opened in 1963, when mid-century model styles were all the rage. Second-generation owner, Jay Behar says it's time to move on. (Annie Barker / The Herald)
Behar’s Furniture in Everett closing after 60 years

“It’s time to move on.” The small family-owned store opened in 1963 and grew to cover an entire city block.

Katy Woods, a Licensed Coach, Branch Manager, and experienced Banker at Coastal Community Bank.
Coastal Community Bank Offers Classes for Businesses

To support local business owners and their teams, Coastal offers complimentary Money… Continue reading

Innovative Salon Products online fulfillment employees, from left, Stephanie Wallem, Bethany Fulcher, Isela Ramirez and Gretchen House, work to get orders put together on Friday, Jan. 6, 2023, at the company’s facility in Monroe, Washington. The company began including pay, benefits and perks to its job listings over a year ago, well ahead of the new statewide mandate to include a pay range on job postings at companies with over 15 employees. (Ryan Berry / The Herald)
New state law requires employers to give pay range in job postings

Washington’s new pay transparency law aims to narrow wage gaps based on race or gender — though some companies may seek loopholes.

Nelson Petroleum on Thursday, Dec. 22, 2022 in Everett, Washington. (Olivia Vanni / The Herald)
‘Egregious:’ Everett fuel company repeatedly broke water standards

Nelson Petroleum faces a lawsuit from an Everett Mall Way strip mall over discharges into a nearby wetland.

Mike Lane and son Dave Lane, right, in front of their family store Everett Vacuum with their popular sign and saying, “everything we sell sucks” on Thursday, April 7, 2022, in Everett, Washington. (Olivia Vanni / The Herald)
Suck it up — and shop it up — at Everett Vacuum

After 80 years on Broadway, the family-run store with the “Everything we sell sucks” sign moved to Hewitt Avenue.

Customers leave J. Matheson Gifts Wednesday, Feb. 16, 2022, in Everett, Washington. (Ryan Berry / The Herald)
Everett’s longtime J. Matheson gift store finds new life in Seattle

Miranda Matheson had her mother’s blessing when she opened a new J. Matheson Urban Gifts & Kitchens in Green Lake.

Carla Fisher and Lana Lasley take a photo together with Tommy Chong during 210 Cannabis Co’s grand opening Saturday, Dec. 10, 2022, in Arlington, Washington. Fisher and Lasley waited in line solely to get a photo with Chong. (Ryan Berry / The Herald)
Stillaguamish Tribe opens retail cannabis shop

More than 1,500 attended a grand opening on Dec. 10. The venture comes amid a boom in tribal cannabis stores.

Franco Montano works on putting together a wreath at his workshop on Monday, Dec. 5, 2022 in Monroe, Washington. (Olivia Vanni / The Herald)
Monroe man runs taco truck by day, makes 100 wreaths by night

Franco Montano, a former factory worker, started making the holiday wreaths in 2008. He has expanded into a thriving family business.