Mountlake Terrace-based Premera Blue Cross plans to build a $12 million office complex in Spokane to house membership, billing and claims processing departments for the health insurer. The expanded facility also will allow Premera to consolidate its Spokane area offices in one location. Gov. Christine Gregoire has committed $700,000 for the project from the Washington State Economic Development Strategic Reserve Account, which is designed to help retain businesses in the state.
Everett firm wins research grant
The Washington Technology Center has awarded more than $661,000 to a dozen companies, including Everett-based Erudite Systems Inc., in its latest round of grants. Erudite is working with a University of Washington professor to develop acoustic monitoring devices that can increase security for the container shipping industry. The company received about $40,000 from the center.
Kraft Foods profits drop 32 percent
Kraft Foods Inc., the nation’s largest food manufacturer, reported a 32 percent drop in second-quarter profit, mainly due to a loss from the sale of its confectionary unit and higher commodity costs. The maker of Velveeta cheese, Kool-Aid and Oreo cookies said Tuesday that net earnings for the April-June period were $472 million, or 28 cents a share, down from $698 million, or 41 cents a share, a year earlier.
HP plans to slash 14,500 positions
Striving for Dell Inc.’s efficiency and IBM Corp.’s breadth, Hewlett-Packard Co. said Tuesday it will cut 14,500 jobs and overhaul its retirement plan. The computer and printer maker said it will save $1.9 billion a year as it trims its global work force of 151,000 by 10 percent over the next 18 months.
Alaska attendants scrap contract offer
Alaska Airlines flight attendants have rejected a tentative contract reached in May by their union. The Association of Flight Attendants reported the vote as 746 for the contract and 1,169 against. The attendants will continue working under their old contract as negotiations resume, union officials said.
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