Negotiators for the International Association of Machinists presented the Boeing Co. with a counterproposal Thursday as talks continued on a new three-year contract. On Wednesday, the union bargaining team had rejected the company’s initial contract offer, saying it fell far short of what members wanted on key issues such as pension, health care and job security. Talks are expected to continue into the weekend.
Maltby Costco open for business
A new Costco Wholesale store opens today just south of Maltby in unincorporated Snohomish County. The Issaquah-based retailer’s 149,000-square-foot warehouse and gas station is near the junction of Highways 9 and 522. The store was built on 15 acres of land that was formerly home to an auto salvage business and a business park.
Former HealthSouth CFO sentenced
A judge sentenced HealthSouth Corp.’s first finance chief to three months in prison Thursday for his role in a $2.7 billion earnings overstatement at the rehabilitation and medical services chain. Aaron Beam, who helped Richard Scrushy found the company in a one-room office in 1984 and testified against the ousted chief executive officer earlier this year in his fraud trial, also will forfeit $275,000 under a deal worked out with prosecutors. The judge added a $10,000 fine, plus one year of probation.
Kodak reduces film and paper jobs
Eastman Kodak Co., battling a steep drop in demand for photographic film and paper, is scaling back film manufacturing in China and closing various businesses in Rochester, N.Y., and West Virginia, eliminating about 1,000 jobs.
American Airlines boosts cargo prices
American Airlines is hiking prices on cargo shipments beginning Sept. 5, the latest of several such increases the carrier blames on higher costs for jet fuel. The airline said Thursday it would raise the fuel surcharge on cargo from 18 cents to 20 cents a pound for shipments within the United States, and from 45 cents to 50 cents a kilogram on foreign deliveries.
Amusement chain is put up for sale
Six Flags Inc. is putting itself up for sale one week after Washington Redskins owner Dan Snyder bid to raise his stake in the amusement-park operator. Six Flags is the world’s second biggest theme park operator after The Walt Disney Co.
From Herald news services
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