Microsoft consolidates ad divisions

Microsoft said Wednesday it is consolidating its Web search and online advertising divisions following two key executive departures. The Redmond-based software maker said the new group will report directly to Kevin Johnson, president of the platforms &services division. Microsoft named Satya Nadella corporate vice president for the new group.

Credit payments slow in January

Credit-card payment performance declined in January, the first such deterioration after several years of improvement, in large part due to a rise in personal bankruptcy filings, according to Moody’s Investors Service. Compared with a year earlier, Moody’s said more credit card balances were written off as uncollectible in January and more borrowers fell behind in their payments.

Shooting flames prompt Ford recall

Ford Motor Co. on Wednesday told dealers to temporarily stop selling certain 2008 F-series Super Duty diesel pickups after receiving reports of flames shooting out of the vehicle’s tailpipe. Ford said it was recalling 37,400 F-Series Super Duty trucks with 6.4-liter diesel engines. There have been no injuries or vehicle fires connected to the recall.

Motorola drops CFO as earnings drop

Motorola Inc. replaced its chief financial officer Wednesday as it slashed its first-quarter sales forecast, blaming weaker-than-expected revenue from its mobile devices unit. Thomas Meredith, 56, was named acting chief financial officer, effective April 1. He replaces David Devonshire, 61, who will retire from the position. Motorola now expects a first-quarter loss of 7 cents to 9 cents per share, including 9 cents per share in charges.

Fed Ex earnings drop 2 percent

FedEx Corp. reported a 2 percent drop in third-quarter earnings Wednesday, blaming the decline largely on an economic slowdown that tested the company’s ability to quickly adjust costs. The shipping company said it also will have to struggle to keep up with a long-range goal of 10 percent to 15 percent growth a year in per-share earnings. But FedEx executives expressed confidence the economy would improve and said the company is well positioned to take advantage of it.

Oil prices rise as gas supplies dip

Crude oil prices edged higher Wednesday after the U.S. government said gasoline inventories dropped for the sixth straight week, keeping worries alive that supplies will be tight going into the peak driving season. Gasoline prices slipped, though, as the government report showed that U.S. refineries ramped up production last week and that crude imports rose – indicating that it’s possible for supplies to catch up before summer demand is in full swing.

From Herald staff

and news services

Talk to us

More in Herald Business Journal

Members of Gravitics' team and U.S. Rep. Rick Larsen stand in front of a mockup of a space module interior on Thursday, August 17, 2023 at Gravitics' Marysville facility. Left to right: Mark Tiner, government affairs representative; Jiral Shah, business development; U.S. Rep. Rick Larsen; Mike DeRosa, marketing; Scott Macklin, lead engineer. (Gravitics.)
Marysville startup prepares for space — the financial frontier

Gravitics is building space station module prototypes to one day house space travelers and researchers.

Orca Mobility designer Mike Lowell, left, and CEO Bill Messing at their office on Wednesday, Aug. 16, 2023 in Granite Falls, Washington. (Olivia Vanni / The Herald)
Could a Granite Falls startup’s three-wheeler revolutionize delivery?

Orca Mobility’s battery-powered, three-wheel truck is built on a motorcycle frame. Now, they aim to make it self-driving.

Catherine Robinweiler leads the class during a lab session at Edmonds College on April 29, 2021. (Kevin Clark / The Herald)
Grant aids apprenticeship program in Mukilteo and elsewhere

A $5.6 million U.S. Department of Labor grant will boost apprenticeships for special education teachers and nurses.

Peoples Bank is placing piggy banks with $30 around Washington starting Aug. 1.
(Peoples Bank)
Peoples Bank grant program seeks proposals from nonprofits

Peoples Bank offers up to $35,000 in Impact Grants aimed at helping communities. Applications due Sept. 15.

Workers build the first all-electric commuter plane, the Eviation Alice, at Eviation's plant on Wednesday, Sept. 8, 2021 in Arlington, Washington.  (Andy Bronson / The Herald)
Arlington’s Eviation selects Seattle firm to configure production plane

TLG Aerospace chosen to configure Eviation Aircraft’s all-electric commuter plane for mass production.

Jim Simpson leans on Blue Ray III, one of his designs, in his shop on Friday, August 25, 2023, in Clinton, Washington. (Ryan Berry / The Herald)
Whidbey Island master mechanic building dream car from “Speed Racer”

Jim Simpson, 68, of Clinton, is using his knowledge of sports cars to assemble his own Mach Five.

An Amazon worker transfers and organizes items at the new PAE2 Amazon Fulfillment Center on Thursday, Sept. 14, 2023, in Arlington, Washington. (Ryan Berry / The Herald)
Amazon cuts ribbon on colossal $355M fulfillment center in Arlington

At 2.8 million square feet, the facility is the largest of its kind in Washington. It can hold 40 million “units” of inventory.

A computer rendering of the North Creek Commerce Center industrial park in development at 18712 Bothell-Everett Highway. (Kidder Mathews)
Developer breaks ground on new Bothell industrial park

The North Creek Commerce Center on Bothell Everett Highway will provide warehouse and office space in three buildings.

Dan Bates / The Herald
Funko president, Brian Mariotti is excited about the growth that has led his company to need a 62,000 square foot facility in Lynnwood.
Photo Taken: 102312
Former Funko CEO resigns from the Everett company

Brian Mariotti resigned Sept. 1, six weeks after announcing he was taking a six-month sabbatical from the company.

Cash is used for a purchase at Molly Moon's Ice Cream in Edmonds, Washington on Wednesday, Aug. 30, 2023. (Annie Barker / The Herald)
Paper or plastic? Snohomish County may require businesses to take cash

County Council member Nate Nehring proposed an ordinance to ban cashless sales under $200. He hopes cities will follow suit.

A crowd begins to form before a large reception for the opening of Fisherman Jack’s at the Port of Everett on Wednesday, August 30, 2023, in Everett, Washington. (Ryan Berry / The Herald)
Seafood with a view: Fisherman Jack’s opens at Port of Everett

“The port is booming!” The new restaurant is the first to open on “restaurant row” at the port’s Waterfront Place.

Tanner Mock begins unwrapping new furniture that has been delivered on Thursday, Aug. 24, 2023 in Everett, Washington. (Olivia Vanni / The Herald)
In Everett, new look, new name for mainstay Behar’s Furniture

Conlin’s Furniture, based in South Dakota, bought the huge store and celebrates with a grand opening this week.