Microsoft's financial reports to be reorganized

Microsoft announced planned changes to its financial reporting structure Monday to better match its new organizational structure.

Beginning in its 2007 fiscal year, the company will report revenue and profit/loss figures for five business segments organized around its three divisions. The company currently reports financial results for seven business segments.

The Platforms and Services Division will be comprised of three segments: client; server and tools; and online services segments, including MSN and Windows Live.

The Microsoft Business Division, a single segment, will be comprised of the Information Worker and Microsoft Business Solutions businesses, which were previously reported separately.

The Entertainment and Devices Division, also a single segment, will consist of the Home and Entertainment and Mobile and Embedded Devices businesses, which also were previously reported separately.

Tugboat firm buys Eastern business

Foss Maritime, one of the largest tugboat and barge operators on the West Coast, said it is entering the East Coast market by buying a small Massachusetts company.

Seattle-based Foss said it bought Constellation Tug of Charlestown, Mass., which has four tugboats and 24 employees and serves ships in Boston Harbor. Terms weren't disclosed.

Foss, which has about 1,000 employees and 2005 revenue of $232 million, already operated in Oregon, Los Angeles, Long Beach and San Francisco.

Constellation provides a foundation for expanding in the East and its management will stay, said Scott Merritt, a Foss vice president.

Northwest Airlines

Flight attendants agree to pay cuts

The last holdout union at Northwest Airlines tentatively agreed to deep pay cuts and work-rule changes Monday, bringing the bankrupt carrier closer to the labor savings it sought for three years.

The agreement came on the same day Northwest could have imposed the contract rejected by 80 percent of flight attendants last month. The Association of Flight Attendants had threatened job actions including a possible strike if that happened.

Details of the agreement weren't released, but Northwest said it got the $195 million in annual savings it sought.

Union leaders and rank-and-file flight attendants would have to approve the deal for it to take effect. Northwest said it expects the voting to end on July 31.

Approval would mean Northwest could also implement new contracts already approved by pilots and ground workers.

Compiled from Seattle Times staff and The Associated Press