RealNetworks suspends product

Software

RealNetworks said Monday it had temporarily stopped distributing its DVD copying software, RealDVD, at a federal judge's request in a copyright case brought by Hollywood studios.

"We temporarily suspended distribution of the product until tomorrow," said Seattle-based RealNetworks' spokesman Ryan Luckin.

U.S. District Court Judge Marilyn Hall Patel is scheduled to take up the case today at 2 p.m. in San Francisco.

Six major movie studios jointly sued the company Sept. 30, the day the software launched. They claim RealDVD illegally bypasses the copyright protection built into DVDs.

Retail

Jones Soda trims 42 positions

Jones Soda has cut its work force by about 42 employees, reducing its staffers to 68, the company said in a regulatory filing.

The Seattle beverage marketer said the 38 percent cut is part of an effort to shrink its operating expenses and will save an estimated $2.6 million in annual expenses.

Aerospace

Boeing names lobbying director

Boeing named longtime Washington state legislative insider David Schumacher as its director of state and local government relations. He'll be responsible for the company's public-policy lobbying efforts in the state as well as in Oregon, Montana, Hawaii and Alaska.

Schumacher most recently was staff director for the Washington state Senate Ways and Means Committee. He also worked as an executive policy analyst in the state's Office of Financial Management and as an economic analyst for the state's Department of Revenue.

Schumacher reports to Fred Kiga, vice president for state and local government relations. Kiga was chief of staff to former Gov. Gary Locke during the successful 2003 campaign to win assembly of the 787 for Washington.

Financial services

Banks suspend Wachovia litigation

Wachovia, Citigroup and Wells Fargo on Monday agreed to a standstill of all formal litigation activity — a sign that the banks and the Federal Reserve are working feverishly to reach an agreement over the fate of Wachovia.

The standstill agreement will end at noon Wednesday, unless extended.

Fed officials have been in talks with Wells Fargo and Citigroup in the hope of getting the parties to come to some sort of agreement.

eBay

1,600 jobs to be cut around the world

EBay said Monday it will cut about 1,600 jobs, 10 percent of its work force, in its largest round of dismissals ever.

About 1,000 full-time employees will be gone, while eBay will achieve the rest of the cuts by letting temporary and part-time workers go and by leaving open positions unfilled.

The auction-site operator would not describe which positions would be cut, other than to say they will come across the company and around the world.

Eli Lilly & Co.

$6B acquisition of ImClone

Eli Lilly & Co. has agreed to spend more than $6 billion to fortify its cancer-treatment portfolio by acquiring the biotechnology firm ImClone Systems in a deal that tops earlier offers from competitor Bristol-Myers Squibb.

Lilly will pay $70 a share for ImClone. Bristol-Myers then said it would not increase its latest offer of $62 a share but would pocket about $1 billion for its 14 million ImClone shares.

Compiled from The Associated Press and Seattle Times staff