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Tuesday, June 14, 2005

Business Digest

Ford's Hertz car rental unit files for an IPO

DEARBORN, Mich. -- Ford Motor Co., racked by financial problems and a credit downgrade, said yesterday that its Hertz Corp. car rental unit has filed with the Securities and Exchange Commission for an initial public offering.

The filing lists a proposed maximum aggregate offering of $100 million, but a Ford spokesman said the eventual amount could be larger or smaller.

Chief financial officer is leaving F5 Networks

Steve Colburn, F5 Networks' chief financial officer and senior vice president of finance, will resign from the company in the fourth quarter of the year, the company said yesterday. Colburn, who has been at the Seattle software company four years, resigned for personal reasons, the company said.

NEW TOP OFFICER

  • Snapin Software, a Bellevue developer of self-service software for mobile phones, yesterday named McCaw Cellular/AT&T Wireless veteran Robert Lewis president and chief executive.

    SHIPPING NEWS

    Vessels due at the Port of Seattle today, according to the Marine Exchange of Puget Sound, include Africa Graeca, from China, at anchor; California Mercury, from Vancouver, B.C., at Terminal 18-2; OOCL America, from Los Angeles, at 18-5; Peking Senator, from Vancouver, B.C., at 37; and Star Geiranger, from Tokyo, at 5. There are no scheduled arrivals in Seattle tomorrow.

    This report includes information from P-I staff, The Associated Press and Bloomberg News.
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