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Business Digest
Boeing wins China Air's $425 million 747 order

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The 747-400 planes are scheduled for delivery in 2006, Boeing said yesterday. The company has sold 40 planes worth $2.74 billion this year, compared with 37 worth $2.17 billion in the same period last year.

The order means Boeing has sold six 747s, all cargo versions, this year, including three in February to Tokyo-based All Nippon Airways. Boeing had just four 747 orders last year.

The company has a backlog of 37 747 orders — 24 of them cargo planes. The 747 cargo version has a list price of $187.5 million to $214.5 million, which doesn't include discounts Boeing often gives to customers.

China Airlines has bought 21 cargo versions of the 747-400 and 17 passenger versions.

MSN, Fox Sports teaming up on online sports coverage

SEATTLE — Microsoft's MSN division is teaming up with Fox Sports to offer exclusive sports coverage online.

The new site, at foxsports.msn.com, will launch July 1, the companies said.

As part of the deal, MSN will run all of the advertising on the site. The companies said that some of the features planned for the site include behind-the-scenes footage from sports shows and analysis from Fox Sports commentators.

Trial for Blaster defendant likely to be delayed a month

SEATTLE — The trial for Jeffrey Lee Parson that was scheduled to begin in Seattle on May 17 will likely be delayed for at least another month.
 
Parson, a Minnesota high-school senior, is expected to face trial on charges that he unleashed on the Internet a version of the Blaster worm, a malicious code that infected at least a million computers and cost Microsoft roughly $10 million in damages. The original author of the Blaster worm has yet to be identified.

Both sides in the case have asked a federal judge to move the trial date to June 28. The judge has not yet ruled on the request.

Small-business agency names new regional head

SEATTLE — The Small Business Administration named a former Seattle attorney as its regional administrator yesterday, ending a monthlong search after a former regional head left to run for political office.

Hector Barreto, administrator of the SBA, named Norm Proctor as the new regional administrator for Region X. Proctor will oversee the delivery of financial assistance, business development and counseling programs in Alaska, Idaho, Oregon and Washington.

Proctor succeeds Conrad Lee, who resigned in March to seek the Republican nomination for Congress. Proctor, a native of Seattle, received bachelor's and law degrees from the University of Washington. He then served in the Air Force in Italy and the Philippines in intelligence operations. He began his career as a law clerk for a King County Superior Court judge in Seattle. He later worked for 23 years for Bellevue-based Paccar, where he served in several management posts, including the company's chief lobbyist responsible for legislative activities in all 50 states.

Bothell biotech company names new board member

SEATTLE — Sonus Pharmaceuticals, a Bothell biotech company, yesterday named Michelle Burris to its board of directors.

Burris, 38, is senior vice president and chief financial officer of Corixa, a Seattle biotech company developing drugs and vaccines for cancer and autoimmune diseases. Burris has been with Corixa since 1997, and previously worked in strategic planning for Boeing. She is succeeding Christopher Henney on the Sonus board.

Nation / World

Two shareholder groups advise ouster of Safeway chairman

SAN FRANCISCO — Two influential shareholder advisory firms recommended yesterday that Safeway Chairman Steve Burd be removed from the grocer's board, boosting the efforts of disillusioned investors in a looming showdown.

After analyzing the issues, the rival advisory firms — Institutional Shareholder Services and Glass, Lewis — concluded investors should withhold their votes for Burd at Safeway's annual meeting, scheduled May 20.

The critics — led by public pension funds in New York, Illinois and Connecticut — say Burd has been mismanaging Safeway while a deeply conflicted board watched idly, even as the missteps wiped out more than $20 billion in shareholder wealth since early 2001.

Safeway expressed "disappointment and disagreement" with the recommendations in a statement yesterday that emphasized the company's stock remains well above its per share price when Burd became CEO in April 1993.

American Air to raise fares to offset higher jet-fuel cost

FORT WORTH, Texas — American Airlines said yesterday it would raise fares by $4 per round trip, effective immediately, within the U.S. to help offset the rising cost of jet fuel.

It was unclear whether other airlines would match the increase. A spokeswoman said United Airlines was still reviewing a possible fare increase yesterday, and a spokesman for Continental said he didn't know whether the Houston-based carrier would match American. Southwest Airlines said it would not match the raise.

Morningstar research firm takes steps to go public

CHICAGO — Morningstar, the independent investment-research firm, said yesterday it has taken steps to become a publicly traded company.

The Chicago-based company announced it has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering of its common stock. The number of shares to be offered and a price range have not yet been determined.

Best known for its research on mutual funds, Morningstar tracks more than 54,000 mutual funds and similar vehicles.

Union, automotive supplier sign 7-year wage deal

DETROIT — Visteon and the United Auto Workers (UAW) signed a seven-year supplemental labor agreement yesterday that allows the world's second-largest automotive supplier to pay new hires represented by the UAW far less than current workers.

The two sides announced a tentative deal April 29. The agreement covers employees at Visteon's 15 UAW-affiliated facilities in the United States.

Under the terms, the new starting wage will be $14 an hour. The hourly wage can grow to $18.50 by the end of the deal.

Current UAW workers at Visteon are paid $24 an hour on average, though some earn $36 an hour.

Compiled from Seattle Times business staff and Bloomberg News and The Associated Press.