Originally published August 11, 2007 at 12:00 AM | Page modified August 11, 2007 at 2:03 AM
Business Digest
WaMu's shares decline on mortgage woes
Pacific Northwest Washington Mutual was among a group of U.S. mortgage companies whose stock fell Friday as demand for loans and sources...
Washington Mutual was among a group of U.S. mortgage companies whose stock fell Friday as demand for loans and sources of new money dried up.
The shares of Seattle-based Washington Mutual, the largest U.S. savings and loan, lost 81 cents, or 2.2 percent, to $35.95.
Shares of Countrywide Financial, the biggest U.S. mortgage lender, fell 2.8 percent, while MGIC, the No. 1 mortgage insurer, fell 13 percent.
Washington Mutual said in a regulatory filing Thursday that liquidity had "diminished significantly" in the market for home loans made to borrowers who don't meet the top credit standards. Countrywide said in its own filing Thursday that "unprecedented disruptions" in the mortgage market may reduce profit.
"Any company that has products related to home sales is in trouble," said James Stratton, chief executive officer of investment firm Stratton Management in Pennsylvania. "Instead of a soft landing, it's a hard landing," Stratton said.
Boeing
First 787 flight could be delayed
Boeing is still targeting the end of next month for the first flight of its new 787 Dreamliner, but the aircraft maker said Friday it could delay the flight due to several complex steps that remain in the passenger jet's final assembly.
"That date could move into fall as we proceed to do all the work in front of us," Boeing spokeswoman Yvonne Leach said.
Leach said the final assembly of the midsize jet, the integration of its aviation, hydraulic, electronic and other systems and software, plus several rounds of structural testing could all influence the timing of the first flight.
Even if the first flight were delayed, Leach said Boeing has plans in place to ensure the first delivery of the long-haul Dreamliner, to Japan's All Nippon Airways, will be as scheduled in May 2008.
Sound Publishing
![]()
Weeklies, shopper among latest deals
Sound Publishing said Friday that it acquired two community weeklies, a regional shopper and two monthly business publications from Sun News. Sound Publishing's president said there were no major changes planned for the Marysville Globe, Arlington Times, the regional Express Shopper, Wenatchee Business Journal and Bellingham Business Journal.
Kris Passey, one of the four owners of Sun News, will continue as publisher of the community newspapers and supervisor of the business publications. Sun News purchased the Globe and Times in 1997 and both business monthlies in 2001.
Sound Publishing, a subsidiary of Black Press of Victoria, B.C., owns more than 50 Western Washington publications, with a total weekly circulation of 850,000.
Compiled from Bloomberg News, The Associated Press and Seattle Times business staff
Copyright © 2007 The Seattle Times Company
UPDATE - 08:03 AM
Service sector shrinks less than expected in June
Tech execs double as scourges and sages at Allen & Co.'s media summit
UPDATE - 08:45 AM
Stocks slide on conflicting signs about economy
UPDATE - 08:32 AM
Bankruptcy judge OKs GM sale plan, appeal looms

2009 fireworks time lapse
With strict parking rules enforced at this year's July 4th celebration on Wallingford Ave North, less cars and more spectators filled the streets.
Entertainment | Top Video | World | Offbeat Video | Sci-Tech
nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
Tax tips for new independent professionals
Post a comment
nwautos

Choosing a new sports car/coupe? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
nwhomes

Find a new home or condo that fits your lifestyle.
Search New Developments
Builder Directory
- Landmark Smith Tower mostly vacant
- Property taxes: Appeals shoot up in King, Snohomish Counties
- Shooting unveils very different sides of McNair
- Palin links resignation to 'higher calling' and blasts media in Facebook posting
- Former NFL MVP McNair killed
- Hard times for tourist towns means good deals for travelers
- Tukwila residents rally against light-rail noise
- Seattle may allow homeowners to build backyard cottages
- Confessions of an Idol Addict | "American Idols" on tour: Live coverage from opening date
- Quincy Jones remembers "the biggest entertainer on the planet": Michael Jackson
- Seattle Mariners at Boston Red Sox: 07/05 game thread
247 - Palin links resignation to 'higher calling' and blasts media in Facebook posting
183 - Hatred for the NBA runs deep, but don't take it out on the players
138 - Tukwila residents rally against light-rail noise
129 - Former NFL MVP McNair killed
113 - Property taxes: Appeals shoot up is King, Snohomish Counties
109 - Tent City on campus: UW stalls decision
107 - Anti-tax rally in Olympia attracts about 1,500
69 - Mariners did their part, now they need help
46 - Megachurch pastor Rick Warren addresses US Muslims
36
- Property taxes: Appeals shoot up in King, Snohomish Counties
- Hard times for tourist towns means good deals for travelers
- Landmark Smith Tower mostly vacant
- Seattle may allow homeowners to build backyard cottages
- Plasma and LCD beware; OLED screens ready to go mainstream
- The People's Pharmacy | Estrogen mimicker found in sunscreen
- Researchers stunned by inmates' success raising endangered frogs
- Tent City on campus: UW stalls decision
- Toyota's Toyoda scolds execs for emulating U.S. car companies' mistakes
- Tukwila residents rally against light-rail noise





