Friday, November 10, 2006 - Page updated at 12:00 AM

E-mail article     Print

Business Digest

Getty reveals SEC options investigation

Getty Images joined at least 173 companies that have disclosed investigations into stock-option grants.

The Seattle-based photography broker delayed filing its quarterly report with the Securities and Exchange Commission (SEC) until its board completes an internal investigation. Getty said in a statement Thursday that the SEC is conducting an informal investigation. Alan Pickerill, head of investor relations for Getty, declined to disclose when it was contacted by the SEC.

Investigators at Getty and at scores of other companies are seeking to find out whether the companies inflated the value of options awarded to senior executives by backdating, or timing the grants to coincide with days when the stock price was low.

Seattle-based F5 Networks said Wednesday that it would restate seven years of financial results after an internal probe into improper stock-options practices.


Doug Kight named labor negotiator

Boeing named Doug Kight, 50, as the Commercial Airplane unit's top labor negotiator and vice president of human resources, replacing Jerry Calhoun.

A 19-year Boeing veteran, Kight is a vice president and top lawyer at Boeing's headquarters in Chicago. A member of the labor-contract negotiations team, Kight leads a legal department specializing in union relations, employee relations, staffing, compensation and employee benefits. He joined Boeing in 1987 after practicing law in Wenatchee. He will start next month.


$20 million raised in venture capital

Talyst, a Bellevue startup whose software helps hospitals track the packaging and distribution of patient medications, has raised $20 million from two local venture-capital firms.

Ignition Partners and OVP Venture Partners gave the financing, which follows a $9 million investment last year by AIG Horizon Partners.


Plant not affected by restructuring

The new Snohomish County pharmaceutical plant built by Berlex won't be affected by the global restructuring that follows Bayer HealthCare's acquisition of Berlex parent Schering, Bayer said Thursday.

But an undisclosed number of local oncology sales employees will see their jobs relocated to New Jersey as part of a consolidation slated to cut 800 jobs, mostly in research, from Bayer's U.S. operations. Berlex has about 240 local employees.

Compiled from Bloomberg News and Seattle Times staff

Copyright © 2006 The Seattle Times Company


Get home delivery today!