Links - TotalPicture Radio - The Voice of Career Leadership Development

Links
Seattle Post-Intelligencer: Business News
Read business stories from seattlepi.com
Earnings: Higher fuel prices help drive more consumers to Amazon With profit doubling in its second quarter, Amazon.com Inc. trounced the notion that declining consumer confidence and slowed retail spending would hurt the online retail giant. Microsoft exec to depart The Microsoft Corp. president in charge of the company's big Windows and Internet units is leaving in a shakeup that will give Chief Executive Steve Ballmer closer oversight of both. Earnings: Costco says earnings won't meet estimates Retailer Costco Wholesale Corp., of Issaquah, said Wednesday that its earnings for the current quarter will be lower than expected as it delays raising prices on items from food to patio sets amid soaring energy costs that have accelerated in recent weeks. Casual gamers connect at Seattle conference The casual games industry is rapidly growing, segmenting and evolving, attendees were told at Casual Connect Seattle, a three-day conference that kicked off Wednesday at Benaroya Hall. Earnings: Boeing surprises analysts with poor second quarter The Boeing Co., which usually does not disappoint, surprised Wall Street Wednesday by posting an unexpectedly poor second quarter. WaMu stock falls 20 percent amid doubt over its capital Seattle's Washington Mutual Inc., the biggest U.S. savings and loan, fell 20 percent in New York trading after failing to convince some analysts it has enough cash to weather more declines in the housing market. Earnings: Three local firms see their profits decline Seattle-based F5 Networks, a company that makes software to help programs run faster on corporate networks, reported a 12.4 percent drop in net income -- to $19.1 million, or 23 cents per share -- for its third quarter ended June 30. That compares with $21.8 million, or 26 cents per share, for the third quarter of fiscal 2007. The company announced a 25 percent increase in revenue since the third quarter last year, to $165.6 million from $132.4 million. Settlement offered in bid to buy Puget Energy Puget Energy files a proposed settlement that might clear the way for sale of the utility to an Australian-Canadian investment consortium. When a growth firm stops growing What happens when a growth company isn't growing any more? House easily OKs mortgage rescue bill WASHINGTON -- Rescue legislation sailed through the House Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing. IndyMac laying off up to 65 in state IndyMac Federal Bank is laying off as many as 65 employees in Washington, as it shuts down its mortgage operations across the country. Business Briefing Up to 65 IndyMac employees losing mortgage jobs in state ... Brunswick to close Arlington boat plant for a month ... Federal minimum wage to make 2nd of three increases ... Hurricane Dolly could cost insurers up to $1.2 billion. Technology Briefing Cisco Systems to buy Seattle's Pure Networks ... Netflix closing unit that finances indie movies ... Sony's e-book now open to downloads from elsewhere Rescue of mortgage giants could reach $25 billion A federal rescue of Fannie Mae and Freddie Mac could cost taxpayers $25 billion, congressional budget experts said Tuesday. That estimate came as lawmakers put finishing touches on legislation that would tap the troubled mortgage giants' profits to help save homeowners from foreclosure. Mortgage woes continue to wallop WaMu Washington Mutual reported a $3.3 billion second-quarter loss as it tries to bolster loan-loss reserves in the face of continuing problems in the mortgage industry. Westfield Southcenter ready for unveiling of its remodel At 10 a.m. Friday, Westfield Southcenter opens the doors to a $240 million expansion that makes it the largest indoor mall in Washington and Oregon. Boeing to buy partner Insitu Insitu, the 14-year-old maker of unmanned aircraft, said Tuesday it has agreed to be sold to The Boeing Co., giving it Boeing's financial backing and providing Boeing a strategic position in a growing defense market. Aerospace Notebook: Fuel-saving winglets tried on Boeing 767 Blended winglets, which save fuel on jetliners, are moving up to the 767-300ER. Earnings: Economic slowdown takes toll on local firms Seattle-based SeaBright Insurance Holdings said net income for the quarter fell to $6.4 million, or 30 cents a share, compared with $10.2 million, or 49 cents a share, during the same period a year earlier. Game developers to share revenue Microsoft Corp. says it will share with amateur game developers up to 70 percent of the gross revenue generated by games they sell online through the company's upcoming Xbox Live Community Games section. Earnings: Europe gives Paccar's quarterly income a boost Paccar Inc. reports second-quarter net income that increased from a year ago despite tough conditions in the truck market in the U.S. and Canada. Earnings: Yahoo's profit falls short of analysts' expectations Yahoo Inc.'s second-quarter profit fell 18 percent, the latest sign of the financial decay that has frustrated shareholders and raised doubts about the Internet company's future. Nominee questions tanker process WASHINGTON -- The nominee to lead the Air Force said Tuesday a recent report detailing numerous problems with a $35 billion tanker contract was "troubling," and he is planning reviews of the service's process of awarding contracts. HD wireless brand draws support Sony, Samsung and other consumer-electronics heavyweights are uniting to support a technology that could send high-definition video signals wirelessly from a single set-top box to screens around the home. Business Briefing Seafood processing plant in Alaska destroyed by fire ... Deal would create 3rd-largest sea-cargo box carrier ... Wachovia's CEO says he'll cut $2 billion in costs ... Three more airlines post second-quarter losses ... DuPont credits agricultural sales for increase in profits ... plus new top officers. Technology Briefing Sotto Wireless shifts gears, eliminates some positions