November 15, 2008 in Business

Taco Bell operator updating local store


The franchise company that operates more than 20 Taco Bells in this region said it will spend about $800,000 to rebuild one of its fast-food restaurants in downtown Spokane.

Crews razed the Taco Bell at 825 W. Third this week. Company director of development Ken Langel said the new version will be its most modern store in the area.

He said the new restaurant should open by the end of January.

Langel works for CLC Restaurants Inc., based in Missoula. The company is a franchisee that operates 22 stores in the Spokane area, he said.

The new downtown location will have about 50 seats.


Freddie Mac seeks $13.8 billion in aid

Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss Friday.

The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury Department to keep it and Fannie Mae afloat after the two were seized by federal regulators in September. Freddie Mac said it expects to receive the money by Nov. 29.

The McLean, Va.-based company posted a loss of $25.3 billion, or $19.44 per share, for the third quarter. The results compare with a loss of $1.2 billion, or $2.07 a share, in the year-ago period.


FedEx will raise rates in January

FedEx says it will raise rates for its ground and home delivery services by an average of 5.9 percent beginning Jan. 5.

The package delivery company says it will also increase surcharges for some ground, home delivery and express shipments on that date.

Memphis, Tenn.-based FedEx Corp. earlier announced an average 6.9 percent hike in its express shipping rates for U.S. and U.S. export services effective Jan. 5.


Boeing, engineers may have deal

A tentative settlement has been reached in contract talks covering nearly 21,000 Boeing Co. engineers, scientists and technical workers.

Negotiators for Boeing and the Society of Professional Engineering Employees in Aerospace announced the deal Friday. Union leaders will decide Friday evening whether to recommend approval.

Details were not immediately released.

Both sides have sought to avoid a second strike at Boeing following an eight-week Machinists union walkout that ended Nov. 2.

From staff and wire reports

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