Nike designs special shoe for U.S. tribes

Nike on Tuesday unveiled what it said is the first shoe designed specifically for American Indians, an effort aiming at promoting physical fitness in a population with high obesity rates. The Beaverton, Ore.-based company says the Air Native N7 is designed with a larger fit for the distinct foot shape of American Indians, and has a culturally specific look. It will be distributed solely to American Indians; tribal wellness programs and tribal schools nationwide will be able to purchase the shoe at wholesale price and then pass it along to individuals, often at no cost.

First test flight for Northrup tanker

The Boeing Co.’s competitor for a lucrative U.S. Air Force contract put its aerial refueling tanker in the air Tuesday for the first time. The pair of Northrop Grumman and EADS is challenging Boeing’s KC-767 tanker with its KC-30 tanker for a $40 billion deal. The KC-30 completed its maiden flight Tuesday morning, flying for nearly four hours. The duo’s tanker is derived from Airbus’ A330 commercial jet while Boeing’s tanker is based off its Everett-built 767 jet. The Air Force is expected to announce the contract winner by early January.

Buyer confidence drops this month

Crumbling consumer confidence and slumping home sales outside the Northwest could prove to be a bad combination for retailers, and for the broader economy going into the holiday shopping season, economic data showed Tuesday. But markets took some heart from the warning signs, hoping that they would goad the Federal Reserve to lower interest rates more. Worries about jobs and the economy flared in September, driving a key barometer of consumer sentiment to its lowest level in nearly two years. The New York-based Conference Board said its confidence index fell to 99.8, an almost 6-point drop from 105.6 in August.

Clear Channel approves buyout

Shareholders for Clear Channel Communications Inc. gave the OK on Tuesday to a $19.5 billion buyout from a private equity group. The offer was for $39.20 per share in cash or stock. Current shareholders could end up with 30 percent of the new company.

UAW walkout could end soon

Industry watchers predict that the United Auto Workers’ strike against General Motors Corp. will be a short one. Both sides have something the other desires — the workers want job security, GM wants to make retiree health care a union burden. The two sides were back at the bargaining table Tuesday as workers picketed for a second day.

Barrel of crude oil dips below $80

Oil prices dropped sharply Tuesday, ending below $80 a barrel, and other energy futures followed suit as investors locked in profits from the recent record-setting rally. The third consecutive day of oil price declines after eight straight sessions in which futures hit new records is igniting a debate among analysts over whether the move is a correction in a bull market or the beginning of a long-term decline in crude prices.

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.

Inside the new Boeing 737 simulator at Simulation Flight in Mukilteo, Washington on Wednesday, Sept. 20, 2023. (Annie Barker / The Herald)
New Boeing 737 simulator takes ‘flight’ in Mukilteo

Pilots can test their flying skills or up their game at Simulation Flight in Mukilteo.

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.