The Home Depot opens its new store at the Tulalip Tribe’s Quil Ceda Village business park Thursday. Grand opening festivities begin at 10 a.m. with kid’s games, prize giveaways, vendor booths, product demonstrations, food and refreshments. The public is invited to the store at 9310 Quil Ceda Blvd. off of I-5 west of Marysville. The store’s hours will be 6 a.m. to 10 p.m. Monday through Friday, 6 a.m. to 9 p.m. Saturday and 8 a.m. to 8 p.m. Sunday. The 115,000-square-foot store will stock more than 40,000 different products. About 140 people will be employed at the store. Home Depot also makes annual philanthropic contributions of about $25 million. To mark the store opening, the Home Depot will make a charitable contribution to a local nonprofit group. Founded in 1978, Home Depot is the third largest retailer in the United States with fiscal 2000 sales at $45.7 billion. The company employs more than 250,000 and has 1,249 stores in 48 states, seven Canadian provinces, Puerto Rico, Chile and Argentina.
Microsoft Corp. Chairman Bill Gates sold 7.7 million shares of the company’s common stock in July, according to a filing with the Securities and Exchange Commission. Gates sold the shares from July 24 to July 31 for $65.70 to $67.75 a share, according to the filing, Dow Jones News Service reported. At those prices, the stock sale would have been worth more than $506 million. At the end of July, Gates directly owned 664,049,300 shares and indirectly owned 214,628 shares, the filing said.
AOL Time Warner Inc. plans to make further job cuts at its America Online unit, The Wall Street Journal reported Monday. AOL Time Warner already cut 725 of the unit’s 15,000 employees in January, part of a company-wide job cutback that trimmed more than 2,000 jobs. The Journal said that this round is likely to involve hundreds of employees, though the exact amount and timing of the cuts was not known. America Online is the world’s largest Internet provider, with more than 30 million AOL customers.
The Treasury Department sold three-month bills at a discount rate of 3.35 percent, down from 3.43 percent last week. Six-month bills sold at a rate of 3.26 percent, down from 3.35 percent. The new discount rates understate the actual return to investors – 3.426 percent for three-month bills with a $10,000 bill selling for $9,915.30 and 3.36 percent for a six-month bill selling for $9,835.20. 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 3.50 percent last week from 3.56 percent the previous week.
From Herald news services
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