Boeing quiet on 787
The Boeing Co. reported a 17 percent increase in earnings of the second quarter of 2008, but the company kept quiet about its delayed 787 Dreamliner during its quarterly update. Boeing is roughly two years behind schedule on its 787 and postponed the jet’s first flight again in June. In good news for Everett workers, Boeing’s chief executive said the company doesn’t see a need to cut production any further than what it has previously announced.
Lawmakers discuss state newspaper tax: Key lawmakers indicated this week that they’re opposed to repealing a 74-year-old sales tax exemption on newspapers. A new study out estimates the state will lose $12.4 million in revenue in 2009 by keeping the newspaper tax exemption in place. The exemption was put into place in 1935. Out of the 45 states with sales tax, 31, including Washington, exempt newspapers from sales tax.
Port to hold off demolishing Collins Building: A Snohomish County Superior Court judge issued a temporary injunction Friday to prohibit the Port of Everett from dismantling the Collins Building, a 75-year-old structure on Marine View Drive. Activists want to preserve the Collins Building, which was placed on state and national historic registers as the lone remaining example of the near-amphibious buildings that once made up Everett’s waterfront district. Port officials say repairs and updates to make the building functional would be too costly.
Rally on Wall Street: The Dow Jones industrials closed above 9,000 on Thursday for the first time since January, propelled by a jump in home sales nationally. The Dow continued its gains Friday, closing at 9,093, its highest point since November. Still, analysts see a number of bumps in the road ahead for the nation’s economy, including retail sales and ongoing troubles in the banking business.