Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Tuesday, July 1, 2008 Business Briefly: WaMu hires president for banking Washington Mutual Inc., the nation's largest savings and loan, said Monday it replaced the president of its retail banking division, James Corcoran. Stephen Rotella, WaMu's chief operating officer and president, took over Corcoran's job of overseeing the thrift's 2,500 or so branches and its online banking operations on an interim basis as of last Friday, officials said. Everett Mall gets Aeropostale Teen clothing retailer Aeropostale plans to open in the Everett Mall this fall. The shopping center's owner, Steadfast Companies, said the retailer's 3,600-square-foot space is under construction now near the mall's center court. Additionally, Candy Tyme, a specialty candy store, and Pretzel Twister, a gourmet pretzel shop, plan to open in the mall soon. Postal Service changes roles The Postal Service on Monday announced a reorganization that officials expect to streamline agency operations. Robert Bernstock has been hired as president of the newly created Shipping and Mailing Services Division. He will deal with customers outside the post office. The second focal point, customer relations, will combine consumer and business customer relationships, external and internal communications and pricing under Stephen Kearney, a current postal officer. Third former exec jailed Airbus probe A judicial official says French police have detained a former Airbus president in an insider trading probe at its parent company EADS. Gustav Humbert was taken into custody Monday by financial investigators in Paris in connection with the probe of the aerospace and defense giant. French authorities have already filed preliminary charges against two former EADS executives -- former co-CEO Noel Forgeard and Jean-Paul Gut, a former deputy chief executive. Boeing fined for foreign suppliers Boeing has agreed to pay a $3 million fine for exceeding value limits on the purchases of parts from foreign suppliers for its military products. Boeing spokesman Tim Neale says the Chicago-based company discovered the violations and reported them to the State Department. The suppliers were in Australia, the United Kingdom, Canada, Israel, Italy, Japan, the Netherlands, Switzerland and Austria. T-bill rates mixed in Monday auction The Treasury Department auctioned three-month bills at a discount rate of 1.9 percent, up from 1.855 percent last week. Six-month bills were auctioned at a discount rate of 2.135 percent, down from 2.255 percent last week. For a $10,000 bill, the three-month price was $9,951.97 while a six-month bill sold for $9,891.47. That would equal an annualized rate of 1.936 percent for the three-month bills and 2.188 percent for the six-month bills. Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for changing adjustable rate mortgages, fell to 2.46 percent last week from 2.57 percent. From Herald staff and news services

1. Machinists pore over Boeing's 'final offer' 2. Monroe teen critically hurt after falling off moving SUV 3. Everett kite shop closing after 16 years 4. 'I thought I was dead,' teen rescued from Three Fingers Mountain says 5. Cyclist injured after being hit by semi 6. Machinists union rejects Boeing's final contract offer 7. UPDATE: Machinists leaders reject Boeing contract 8. Game over for some Seahawks 9. More schools in state added to No Child Left Behind watch list 10. Poll: Will the Machinists get enough votes to strike the Boeing Co.? 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

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