Washington – Boeing Co. won a contract from NASA Tuesday to produce the upper stage of the Ares I launch vehicle. Ares I will launch the Orion crew exploration vehicle into space as the successor to the space shuttle.
Boeing was competing against a team led by Alliant Techsystems Inc. that included Lockheed Martin Space Systems in Jefferson County.
The basic contract awarded to Boeing runs through 2016, is worth $514.7 million and could be worth up to $1.125 billion including support and options for more units.
Additional business news briefs:
DENVER
Safeway to give away food to Broncos fans
On Thursday Safeway will give away some of its signature lines, including organics, to Broncos fans at Invesco Field at Mile High.
The 15,000-square-foot “Game Day Experience” exhibit, debuting at the final preseason game, will be used in six other NFL cities throughout the season.
It’s a new marketing effort aimed at helping the grocer compete, especially in the organic sector. Fans will find Rancher’s Reserve steaks, grilled panini sandwiches, chips and some healthier tailgating offerings between 2 and 7 p.m.
BROOMFIELD
Vail Resorts revives its 4-pack ski passes
Vail Resorts has revived the four-pack at Keystone and Arapahoe Basin for the upcoming ski season. The $129 4-pack passes go on sale Friday and will be available until Oct. 14.
Skiers and snowboarders can purchase four-packs at locations around town including Ski Rex at Colorado Ski & Golf in Aurora and Sniagrab at the Sports Authority in Denver.
HONOLULU
Protests, setbacks halt Superferry service
The company that runs the Superferry service between the Hawaiian Islands suspended operations indefinitely Tuesday after two days of emotional protests and legal setbacks.
The Coast Guard advised the company that it could not assure safe passage of the 350-foot catamaran in and out of Nawiliwili Harbor on Kauai, where a flotilla of protesters blocked it from docking late Monday.
The company paid for flights, hotel rooms and car rentals for passengers who sailed and were stranded Sunday on Kauai.
NEW YORK
Colo. firm MX Logic on fastest-growing list
Last week Inc. magazine released its annual list of fastest-growing companies in America. This year the list was expanded to 5,000 firms from 500, to offer a more comprehensive look at the entrepreneurial engine driving the U.S. economy.
MX Logic, a Douglas County-based Internet security services firm, leads the Colorado delegation of 132 firms at No. 59.
ALBUQUERQUE
E.W. Scripps plans to sell or close Tribune
E.W. Scripps Co., owner of the Rocky Mountain News and Food Network, plans to sell the Albuquerque Tribune or close it if a buyer isn’t found.
The afternoon Tribune has a paid weekday circulation of almost 11,000 and competes with Gannett Co.’s morning Albuquerque Journal, with about 106,000 paid subscribers, Cincinnati-based Scripps said Tuesday in a statement.
“Given the Tribune’s tiny circulation as the second daily in a two-paper market, this isn’t a surprise,” said Larry Grimes, who buys and sells newspapers for media investment bank W.B. Grimes & Co.
ATLANTA
EarthLink to cut half its staff, shut 4 offices
Internet service provider EarthLink Inc. said Tuesday it would cut 900 jobs – or about half its workforce – and close four offices in an effort to reduce operating costs.
EarthLink shares climbed 7 percent on the news.
The moves come as the company continues struggling to generate revenues as dial-up access customers turn to high-speed alternatives.
PASADENA, Calif.
IndyMac hiring up to 850 from failed firm
IndyMac Bancorp Inc., the biggest U.S. independent home lender, is hiring as many as 850 former employees of bankrupt American Home Mortgage Investment Corp. in a push to issue more loans to people with good credit.
The recruits are expected to generate about $1 billion of new loans per quarter in 20 states, the Pasadena, Calif.-based company said Tuesday.
TRENTON, N.J.
Medco to acquire diabetes-care supplier
Medco Health Solutions Inc., the country’s largest prescription benefit manager, said Tuesday it will pay $1.5 billion in cash for PolyMedica Corp., long the largest U.S. supplier of diabetes treatment products.
PolyMedica, which has nearly 1 million patients and includes the Liberty Healthcare brand, expands Medco’s foothold in a fast-growing category worth more than $25 billion a year.
ATLANTA
Home Depot has deal to sell supply business
Home Depot agreed Tuesday to sell its commercial supply business to an alliance of private equity firms for $8.5 billion, nearly $2 billion less than the original agreement.
The sale was one of the first big buyouts to be renegotiated because of the recent tightening of credit and problems in the housing market. Home Depot expects to earn about $7.9 billion from the transaction.
