Microsoft narrows focus in search for CEO

Microsoft Corp.’s board is focusing on more likely chief executive officer candidates, a group that includes Ford Motor Co. CEO Alan Mulally and internal executive Satya Nadella, according to people familiar with the matter.

While internal candidate Tony Bates and former Nokia Oyj CEO Stephen Elop remain in the mix, they’re currently considered less likely to be offered the job, said the people, who asked not to be identified because the deliberations are private. Preferences remain fluid, and other people are being considered and could emerge as front-runners, said one of the people, without identifying any.

The board is aiming for a quick replacement for CEO Steve Ballmer, who said in August he will retire within the next 12 months. The company has seen its software leadership decline amid a shrinking of the personal-computer market, which was its core business. Microsoft is shifting its strategy to focus more on hardware and Internet-based services.

Washington Post building sold for $159M

WASHINGTON » The longtime headquarters building of The Washington Post is being sold to a real estate development company for $159 million.

Graham Holdings Co. is the former parent of The Washington Post newspaper. The company announced a deal Wednesday to sell the downtown Washington building to Carr Properties. The sale is expected to close at the end of March. Graham Holdings spokeswoman Rima Calderon says the newspaper will continue to lease space in the building at least until September 2015.

The newspaper is now owned by Amazon.com founder Jeffrey Bezos and will be looking for a new home.

Legislators in Illinois reach pension deal

CHICAGO » Under growing public pressure to act, the leaders of Illinois’ General Assembly announced Wednesday they had reached an agreement on how to solve the state’s $100 billion pension problem and would begin trying to persuade other lawmakers to approve it in a special legislative session next week.

The deal was a significant breakthrough after months of negotiations and years of unheeded calls to shore up what’s considered the nation’s worst public pension shortfall. Without action, millions of dollars have been diverted from education and other programs and forced financial service companies to repeatedly lower the state’s credit rating.

ON THE MOVE

Diagnostic Laboratory Services has named Ester Do lab manager at the Queen’s Medical Center West. She has held numerous positions at the Queen’s Medical Center.

The First Insurance Co. of Hawaii has donated $10,000 to the American Red Cross Hawaii chapter to benefit typhoon relief efforts in the Philippines. The company’s employees donated $4,385, and $5,615 came from its First Insurance Co. of Hawaii Charitable Foundation.

SHIP AHOY!

Today’s ship arrivals and departures: