Local News - Puget Sound Business Journal

Leadership at the International Association of Machinists are recommending that its members reject Boeing Co.’s latest contract offer and go on strike. (BA)

Washington State University regents have approved a 20 percent annual pay raise for university President Elision Floyd.

Fashion retailer Hennes & Mauritz said it will open two new stores in Seattle in September.

Puget Sound ports could have their market share trimmed further by construction of a new port planned on the west coast of Mexico’s Baja California peninsula.

Crediting strong European performance, Esterline Corp. reported third-quarter net earnings of $20.5 million, or 68 cents per share, which compares with $38.8 million, or $1.49 per share a year earlier. (ESL)

After retiring its last MD-80 airplane this week, Alaska Airlines said its transition to an all-Boeing 737 fleet will save millions of dollars in fuel costs. (ALK)

O’Brien Auto Group said it’s entering the Oregon market with its purchase of the DeLon Auto Center in Salem, which includes four dealerships.

Boeing Co. said it’s made its “best and final offer” to the 27,000 union workers in the International Association of Machinists and Aerospace workers. (BA)

Boeing Co. said EgyptAir is buying two 777-300 extended range airplanes worth $529 million at list prices. (BA)

RadioFrame Networks said it’s raised another $28 million in financing, bringing the total of equity and debt the Redmond company has raised since 2001 to more than $100 million.

Plum Creek Timber Company Inc. said it’s making a deal with The Campbell Group LLC that will see the Seattle timber company receive $783 million after a joint venture between the two companies is formed (PCL)

The Bill & Melinda Gates Foundation has awarded more than $2 million to five Washington school districts for early learning.

The Infectious Disease Research Institute (IDRI) said it’s been awarded a $6.3 million federal grant to study a new tuberculosis vaccine.

ConocoPhillips Co. is selling nearly 600 of its company-owned gasoline stations in the United States to Pacific Convenience & Fuel LLC for a reported $800 million. (COP)

Home prices in Seattle fell 7.1 percent in the past year, which is about half the percentage decline the rest of the country felt.

Alaska Air Group Inc. is laying off about 80 mid-level managers this month, a further effort to cut costs in response to rising fuel prices. (ALK)

Todd Shipyards Corp. said it’s been awarded a contract by the U.S. Navy to provide overhaul and maintenance services to four Nimitz Class aircraft carriers. (TOD)

Washington ranked No. 4 in the country in new hybrid car purchases last year, with residents buying 13,107, according to new car registrations. (TRV)

Ten Seattle locations will be the test market for Starbucks Corp.’s new Clover coffee brewing system, which allows a barista to deliver one individual cup of coffee at a time. (SBUX)