makeitraincloud.jpg
Natalie Dee
It's not fair: Boeing's new 787 hasn't even gotten the chance to do a second roll-out--this time without the Tom Brokaw narration and

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Today's Economic News: Tough Times for Local Tech, but Superyacht Industry Doing Okay

makeitraincloud.jpg
Natalie Dee
It's not fair: Boeing's new 787 hasn't even gotten the chance to do a second roll-out--this time without the Tom Brokaw narration and worldwide simulcast, etc.--and already people are canceling orders. According to the Seattle Times, Boeing revealed yesterday that it lost 25 orders for the new plane. For the year, that puts the project at 50 canceled planes and 49 new ones--only the canceled planes are worth $5.5 billion and the new orders only $3 billion. At least it's outlived some if its haters.

Nintendo is seeing a slowing of Wii and DS sales--though the company saw profits rise 8.5% last year. Also on the Eastside, online legal and news research giant LexisNexis cut more than 10% of Bellevue workforce. But coin-counting device-maker Coinstar has more coins to count, with revenue up significantly over last year.

Back on this side of the lake, Jones Soda saw earnings nosedive, as did Real Networks. Things aren't looking so hot at Nordstrom either. Finally, on the retail tip, the collapse of Joe's Sports is being felt all over the place.

Nationally, job losses slowed, though unemployment rose to 8.9%. (For a fascinating and depressing look at local unemployment rates, check out this chart.) And remember those stress tests? The ones the banks made sure weren't too tough? A lot of big banks did okay. To which Paul Krugman says, "(W)hether you actually should feel reassured depends on who you are: a banker, or someone trying to make a living in another profession."

But lest you think things look too bleak, take comfort in this: Washington's superyacht market is doing just fine.

 
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