Two officials from the Minneapolis headquarters of U. S. Bancorp Piper Jaffray will be the featured speakers at an investor forum in the company’s Everett office on Thursday. The event is scheduled from 3-7:30 p.m. at 2825 Colby Ave. Speakers include Terry Sandven, director of portfolio strategy for the company, and Corey Redfield, chief fixed income strategist. Workshops include college savings plans, retirement tools and strategies, estate planning and positioning for a return of the bull market. The event is designed for the firm’s clients, but others may be allowed to attend on a space-available basis. Call for more information or reservations at 425-259-2930.
A planned increase in moorage rates at the Everett Marina that could be as high as 30 percent in the first year will be presented to the three Port of Everett commissioners when they meet this morning at 9. The commission will discuss the proposal and hear public comments, but it’s not expected to take any action until its June 11 meeting. The commission meets in the port building at 2911 Bond St., Suite 109, Everett. The increase is designed to help the port recover its costs and to catch up to rising market rates at area marinas. After an initial big jump, the proposed new rates would increase about 4 percent a year thereafter through 2007.
The two biggest U.S. automakers, General Motors Corp. and Ford Motor Co., each reported double-digit percentage sales declines in May while the Chrysler Group of DaimlerChrysler AG showed a 4 percent rise for its second consecutive monthly sales gain. GM said Monday its May sales were down 12.4 percent from a year ago, reflecting a 12 percent decline in trucks and a 13 percent drop in passenger cars. For the year, GM sales are up 3 percent compared with the first five months of 2001. South Korean automaker Hyundai Motor America Inc. recorded its single best month ever last month. Sales of the Santa Fe, Hyundai’s small SUV, were up 39 percent in May compared with May 2001. May sales were 17 percent higher last month for BMW of North America Inc., its best month ever.
Manufacturing activity grew for a fourth straight month in May, and at a faster pace than the previous month, signs that recovery in the battered sector is gaining strength, an industry group reported Monday. The Tempe, Ariz.-based Institute for Supply Management said its index of business activity rose to 55.7 percent in May from 53.9 percent in April. Analysts had been expecting a reading of 55.0. An index above 50 signifies growth in manufacturing.
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