Shoreline Bank has opened a full service branch in Monroe, an expansion of the loan office it opened last year. The branch is located at 14090 Fryelands Blvd. SE. It will be led by Jackie Stafford, operations manager, a Monroe resident who’s fluent in Spanish. She previously supervised a supermarket branch in Shoreline. Mike Suh, customer service supervisor, is fluent in Korean. The bank’s hours are from 9 a.m. to 6 p.m. Monday through Friday.
Weyerhaeuser Co. to mothball plants
Lumber and paper producer Weyerhaeuser Co. said Thursday it will indefinitely mothball three plants before the end of 2007 because of weak customer demand amid a sagging housing market. The facilities include Canadian oriented strand board plants in Drayton Valley, Alberta, and Wawa, Ontario, as well as a laminated strand lumber plant in Deerwood, Minn.
Crude oil futures fall from record
Oil futures fell Friday, retreating from an earlier foray to a new record above $90, as investors sold to lock in profits. Still, many analysts expect the declines to be temporary and believe oil futures will continue their assault on price records in the days ahead. They say high prices are driven by factors including a weak dollar, speculative investing and low supplies at a key Midwest oil terminal. Crude prices have jumped 28 percent since late August.
UAW officials seek contract OK
United Auto Workers officials pressed for ratification of a tentative contract with Chrysler LLC as local union members continued to vote on the agreement Friday. Meanwhile, low-level talks were proceeding at Ford Motor Co., the last of the three automakers in this year’s contract talks. At least five UAW locals representing more than 8,500 hourly workers in Michigan, Ohio, Missouri and Delaware were holding ratification votes Friday. A majority of Chrysler’s 45,000 UAW members must ratify the agreement before it can take effect. The new pact would transfer responsibility for pensions to the union.
Troubled UK bank boots chairman
Northern Rock PLC said Friday it was replacing its chairman, after two months of troubles during which the mortgage lender took emergency funding from the Bank of England and saw the first run on a British bank in nearly a century. Chairman Matt Ridley, who has carried much of the blame for Northern Rock’s troubles, is resigning and will be succeeded by former Standard Chartered PLC Chairman Bryan Sanderson, the bank said in a statement to the London Stock Exchange.
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