High-priced CdA condos selling well
High-flying price tags aren’t keeping buyers from snapping up condos overlooking the Coeur d’Alene Resort Golf Course’s 13th hole.
Condos in “The Terraces” sell for $4.5 million to $6 million. Twenty-one of the 30 units are already reserved through a pre-sale program, project developer Duane Hagadone said this week.
“We just had our first international client,” he said. “It was from Europe.”
The Terraces are scheduled to open in 2007. The luxury condos have two different floor plans – one with 5,300 square feet and the other with 6,300 square feet. Each unit comes with two memberships to the golf course and a boat slip at a private marina on the eastern edge of the course’s shoreline.
The Terraces is the first of Hagadone’s five-phase plan to put condos, apartments and townhouses along Lake Coeur d’Alene. A boutique hotel is also planned for the golf course.
Oracle earnings off slightly
San Francisco Oracle Corp.’s quarterly earnings dipped slightly but still met analyst expectations, a performance unlikely to satisfy investors who have been expecting bigger things since the business software maker launched a nearly $20 billion shopping spree a year ago.
The Redwood Shores, Calif.-based company said Thursday that it earned $798 million, or 15 cents per share, during the three months ending Nov. 30. That represented a 2 percent decrease from $815 million, or 16 cents per share, at the same time last year.
Revenue for Oracle’s fiscal second quarter totaled $3.29 billion, a 19 percent increase from $2.76 billion at the same time last year. The difference largely reflects gains from several acquisitions that Oracle completed during the past year, most notably its $11.1 billion takeover of PeopleSoft Inc.
If not for accounting charges stemming mostly from the PeopleSoft purchase, Oracle would have earned 19 cents per share, matching the average estimate among analysts surveyed by Thomson Financial.
Northwest mechanics urged to reject offer
Minneapolis Striking mechanics at bankrupt Northwest Airlines Corp. will begin voting Friday on what the head of their union called “the worst contract in the history of airline labor.”
The contract would move striking members of the Aircraft Mechanics Fraternal Association to laid-off status, making them eligible for four weeks of layoff pay and payment of accrued vacation time.
Union leader O.V. Delle-Femine said in a letter to members dated Wednesday that while AMFA’s National Executive Committee has a policy of remaining neutral on contract ratification votes, it was breaking that policy in this instance.
If union members approve the contract and the strike ends, the strikers could get six months of unemployment benefits. They would also get priority for open mechanics’ jobs at the airline, although AMFA leadership predicted only a fraction would be recalled.
Voting was scheduled to begin Friday afternoon and continue through Dec. 30.
When the strike started Aug. 20, there were about 4,100 AMFA mechanics, cleaners and custodians on Northwest’s payroll.