Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

The Seattle Times

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published Saturday, June 21, 2008 at 12:00 AM

E-mail article     Print view

Business Digest

Shareholder wants WaMu CEO gone

Pacific Northwest Washington Mutual should fire Chief Executive Officer Kerry Killinger and replace its board after an 85 percent stock-price...

Washington Mutual should fire Chief Executive Officer Kerry Killinger and replace its board after an 85 percent stock-price plunge in the past year, said David Dreman, the bank's ninth-biggest shareholder.

The company must hold Killinger accountable for its $3 billion in subprime-related losses, Dreman said Friday. His Dreman Value Management owns a 2.7 percent stake valued at about $183 million.

WaMu spokesman Derek Aney said Killinger, as a director, received support of 88 percent of shareholders who voted at the company's annual meeting in April.

Venture capital

Research firm raises $9 million

Seattle-based Vaccsys, an early stage vaccine-research firm, raised $9 million from investors, said Web site Private Equity Hub, citing a regulatory filing.

Venture investors include Alta Partners of San Francisco and Versant Venture Capital of Menlo Park, Calif.

Mergers/acquisitions

Getty Images sale gains approval

Shareholders on Friday approved Getty Images' plan to sell itself to private equity group Hellman & Friedman of San Francisco.

Seattle-based Getty, the leading provider of stock photography and video, agreed to the $2 billion buyout offer in February.

Software

advertising

San Diego judge: Microsoft must pay

A U.S. District Court judge in San Diego ruled that Microsoft must pay Alcatel-Lucent $511.6 million for infringing on two patents, marking the latest move in a 5-year-old patent scuffle between the two companies.

In April, a jury ordered Microsoft to pay Paris-based Alcatel-Lucent $357.7 million for infringing on a patent that covers how software users select a calendar date from a menu in certain programs. It also ordered Microsoft to pay $10.4 million for infringing on an Alcatel-Lucent patent related to the use of a stylus on a tablet computer.

Judge Marilyn Huff denied Microsoft's request for reconsideration of that jury's decisions late Thursday, and raised the amount of damages to include prejudgment interest meant to compensate for how long it took to resolve the matter.

"We are disappointed that Judge Huff denied our request for a new trial," said Microsoft spokesman David Bowermaster, in an e-mailed statement.

Microsoft plans to appeal the rulings, he said.

Freight forwarders

Expeditors will provide records

Expeditors International said its U.K. unit was asked by the European Commission to provide records related to a probe of freight forwarders.

"Expeditors intends to cooperate," the Seattle company said Friday.

Compiled from Bloomberg News, Seattle Times staff and The Associated Press

Copyright © 2008 The Seattle Times Company

An 802.11n upgrade could make a big difference

Retailers opening doors on Thanksgiving Day

Google makes concessions on digital book deal

Critics want to block Comcast-NBC deal

Google submits revised book settlement

Advertising

Video

Opening day at Crystal Mountain
Skiers crowded the slopes at Crystal Mountain for one of the resort's earliest openings.

Video shows violent arrest by SPD
Fort Lewis Memorial
Highlights: Ken Auletta talks about "Googled"
Seattle International Cabaret Festival
Ken Auletta talks about "Googled"
Medal of Honor
Pelosi answers questions at Swedish Medical Center
Pelosi speaks at Swedish Medical Center
"Pistol" Pete Ryan

Marketplace

nwautos

2009's most fuel-efficient sedansnew
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment

Open Houses

Find this weekend's open house listings.
Or search by location:

 
Most read
Most commented
Most e-mailed
 
 
Advertising