Donald Trump’s casino company won a small victory in U.S. Bankruptcy Court Friday when a judge said the firm’s financial adviser could serve as an expert witness. Judge Judith Wizmur rejected a shareholder plea claiming a conflict of interest should bar a UBS Securities LLC executive from testifying at a Feb. 3 hearing.
Times to lay off 55 journalists
The Seattle Times Co. has notified 55 employees who are members of the Pacific Northwest Newspaper Guild that their jobs may be eliminated in February, a spokeswoman said. The guild members make up about half of the 90 to 110 people the Times earlier said it planned to lay off after the paper lost $12 million in 2004. The union and managers are holding talks about whether the Times can deviate from strict seniority rules in determining who is cut, spokeswoman Kerry Coughlin said. In return, the paper would offer severance pay, which is not required under union contracts. The paper also is proposing voluntary buyouts. The union said it was not talking to news organizations during the talks.
Healing proteins leased from Helix
Bothell’s Helix BioMedix will provide another medical technology firm with rights to wound-healing proteins under an agreement announced on Friday. London-based Smith &Nephew, a leader in treatments for burns, scars and other wounds, will gain licensing rights to HB50, one of Helix’s patented peptides. In return, Smith &Nephew will help Helix develop the peptide, which reduces bacteria, as a possible product.
Cingular Wireless adds 88 layoffs
Cingular Wireless, which announced 155 layoffs in Bothell, Redmond and Seattle earlier this month, will lay off another 88 employees, the company has told state officials. Cingular is cutting thousands of Puget Sound area employees after its $41 billion purchase of AT&T Wireless.
Weyerhaeuser profits double
Forest products giant Weyerhaeuser Co. said fourth-quarter profits more than doubled, but the results missed Wall Street’s expectations. Weyerhaeuser shares fell $2.01, or 3.1 percent, to $63.19 in trading Friday on the New York Stock Exchange. For the fourth quarter, the company earned $199 million, or 82 cents a share, compared with $92 million, or 41 cents a share, a year earlier.
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