Financial markets were closed for Good Friday, so there will be no daily stock market results today. Our usual weekly market summary begins on Page A7.
Fluke parent CEO gets big bonus
Danaher Corp. Chief Executive H. Lawrence Culp Jr. received salary and bonus totaling $4 million for 2004, up from $3.4 million the year before, according to a regulatory filing Friday. The Washington-based manufacturing company, which owns the Everett-based Fluke Corp. and also makes Sears’ Craftsman tools, said Culp’s compensation for last year included a $3 million cash bonus, up from $2.4 million for 2003.
Lost rudder prompts Airbus checks
U.S. airlines will be ordered to inspect the rudders of certain Airbus jets following an incident in which most of the rudder fell off an A310 in flight, a spokesman for the Federal Aviation Administration said Friday. The FAA directive affects A310s and A300-600s. A plane operated by Canadian-based Air Transat lost nearly all of the rudder soon after leaving Cuba for Quebec on March 6. The pilot was able to control the aircraft and returned to Varadero, Cuba.
Wal-Mart board member forced out
A high-profile Wal-Mart Stores Inc. board member resigned Friday after an internal probe turned up evidence of financial improprieties of up to $500,000. The world’s largest retailer said it asked Thomas Coughlin, who is also a former president and CEO of the company’s stores division, to step down because of “a disagreement” over the results of the probe, which involves between $100,000 and $500,000, and his “response to questions concerning his knowledge of certain transactions,” according to a regulatory filing.
Verizon, union agree on 5-year contract
Verizon’s Everett-based Northwest division has reached a tentative five-year labor agreement with workers represented by the International Brotherhood of Electrical Workers, Local 89. Highlights include a one-time payment at ratification and general wage increases totaling 10.5 percent over the five years, as well as improvements in retirement and health care benefits. The agreement, which covers 1,600 employees in three states, will take effect May 29 if ratified by union members in a few weeks.
Cialis name is top drug with spammers
Cialis, the erectile dysfunction drug developed by Bothell-based ICOS Corp., has a new dubious distinction. The drug’s brand name is the most common word used by spammers in their e-mail marketing messages. SophosLabs, a Canadian-based network of virus and spam analysis centers, found that spammers use various spellings of the Cialis name, in an attempt to fool anti-spam filters, more than any other word.
From Herald staff and news services