The Port of Seattle is marking its centennial this year. Approved by voters in King County, it was the first autonomous municipal corporation in the nation specializing in running a harbor and port terminals. (The Port of Tacoma was created in 1918). The Port of Seattle also operates Sea-Tac airport.
The Port has a Web site full of history, photos and events to mark the birthday.
Today it operates the nation’s 8th largest seaport, 17th busiest airport and claims to generates 200,000 jobs. Interestingly, the port authority began three years before the opening of the Panama Canal, whose current widening presents a major competitive challenge to all West Coast ports.
Duke Energy bags a big one with its $13 billion takeover of Progress Energy of Raleigh. The deal creates the largest utility in the United States and gives more heft to the nuclear power ambitions of Duke, already a leader in the field. It’s also good news for Charlotte, Duke’s headquarters. Duke took over the striking but unfinished downtown tower of Wachovia, after the bank crashed in the great panic and was acquired by Wells Fargo. DuPont also agreed to acquire Danisco for $5.8 billion. I wrote more about the M&A outlook in Sunday’s newspaper.
A belated note to readers: Now that I’m writing a column in every Sunday Seattle Times, I’ll be blogging less. Look for me at least twice a week, more if there’s news. And thanks for all the comments, even the ones that begin “Talton’s an idiot!”
Today’s Econ Haiku:
Hef won’t show as much
Now that Playboy’s gone private
Bunny flees Wall Street