Todd Shipyards to continue labor talks

Pacific Northwest

Talks will resume Monday between Seattle-based Todd Shipyards and its unionized production workers, after Thursday's rejection of Todd's second contract offer.

Eleven unions, bargaining jointly through the Puget Sound Metal Trades Council, represent more than 400 of Todd's 500-plus work force, as well as another 400 or so workers on the company's recall list.

The previous contract expired July 31 but has been extended while the two sides continue talking.

Either side can halt the extension with five business days' notice, which would permit a strike or lockout.

Retail

Amazon to sell

$200 computers

Low-cost laptops from the One Laptop Per Child Foundation of Cambridge, Mass., will go on sale at Amazon.com this holiday season, making the $200 computers available for the first time through a retail store.

The foundation's founder, Nicholas Negroponte, said the deal with the Seattle-based online retailer should eliminate delivery problems that arose last year during the first effort to sell XO laptops to the public.

Amazon officials did not respond to phone calls seeking comment, and though Negroponte confirmed the report, he declined to provide details.

Biotechnology

Cell Therapeutics gets market notice

Cell Therapeutics said Friday that it received a delisting warning from Nasdaq because its market capitalization has dipped below listing requirements.

The company has until Oct. 6 to raise its value above $50 million for at least 10 consecutive days or it will be delisted from that market. The company said in a securities filing that "there can be no guarantee" that it "will be able to regain compliance" with Nasdaq's listing requirement.

The stock closed Friday at $1.90, down 9 cents, giving it a market cap of about $36 million, according to the company.

The Seattle biotechnology company had previously received a delisting warning when its stock fell below the required price of $1 a share, but it implemented a 10-for-1 reverse stock split on Aug. 31.

The company also filed Friday a shelf registration for $150 million in securities.

Compiled by Seattle Times staff and The Boston Globe

Information in this article, originally published September 6, 2008, was corrected September 8, 2008. A previous version of this story incorrectly stated the amount of the market capitalization for Cell Therapeutics.