Office Hours archive for April 2010

FRIDAY, APRIL 30, 2010


Treasury consents to Sterling terms

The U.S. Treasury will accept a steep markdown of its investment in Sterling Financial Corp. as part of a recapitalization plan, the Spokane company announced today.The markdown was a condition imposed by Thomas H. Lee Partners, which has committed $134.7 million to Sterling's recapitalization.Treasury in...

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AmericanWest narrows losses

AmericanWest Bancorporation today reported a net loss for the first quarter of $8.5 million, or 50 cents per share, down significantly from prior quarter and prior year levels.The Spokane parent of AmericanWest Bank lost $17.7 million, or $1.03 per share during the fourth quarter of...

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Potlatch posts lower earnings

Potlatch Corp. posted lower first quarter earnings of $1.2 million today, compared to $24.8 million during the first quarter of 2009.Last year's earnings included $43 million in revenues from the sale of timber land in Arkansas.Highlights from this quarter included a strengthening in the Spokane-based...

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MONDAY, APRIL 26, 2010

Construction contracts multiply

The value of permits for future construction in Spokane County more than doubled in March, but was flat for the first three months of the year, according to McGraw-Hill Construction, an industry publication.Activity in Kootenai County increased in March and during the quarter.Although non-residential construction...

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FRIDAY, APRIL 23, 2010

Sterling stock rockets

Shares of Sterling Financial Corp. climbed more than 65 percent Friday on trading volume 15 times normal.The stock, which closed at 87 cents Thursday, finished the Friday trading day at $1.45, and advanced another seven cents in after-hours trading.The 16.2 million shares traded represent almost...

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Tree planting revives Kendall Yards 

With the planting of a tree, developer Jim Frank today revived the Kendall Yards development on the north bank of the Spokane River.The first 18 units of the $25 million residential and commercial project, stalled by the financial problems of the previous developer, should be...

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GU's MBA program gets national ranking

Gonzaga University's master's of business administration program ranked No. 58 in the most recent rankings for "part-time MBA programs" prepared by U.S. News & World Report.In the specialty rankings, GU's accounting program scored No. 31. Its entrepreneurship program was No. 24 (see item below on...

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Business plan winners announced 

Gonzaga University undergraduate and graduate students swept the 10th Annual Business Plan Competition Tuesday.A team led by Stratton Shook won the $7,500 Telect Entrepreneurial Venture Award for Community-Based business. The team developed a plan for Good Greetings LLC, an online greeting card company co-founded by...

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MONDAY, APRIL 19, 2010

Spokane visitor numbers increase

Spokane County hotels have sold substantially more rooms so far in 2010, and bookings for future business are up dramatically, the president of the Regional Convention & Visitors Bureau said today.Harry Sladich said a survey by Smith Travel Research Inc. showed increased business has also...

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FRIDAY, APRIL 16, 2010

Agora Award finalists announced

A clinic, a cellar, and a caterer are among the finalists for the 2010 Agora Awards announced today by Greater Spokane Incorporated.For small non-profits, the finalists are Christ Clinic, Spokane Humane Society, and Tincan.Among the large non-profits, Catholic Charities of Spokane, The Salvation Army of...

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Magnuson Hotels see growth in total reservations 

Spokane-based Magnuson Hotels, which represents more than 1,500 independent hotels and lodges, reports that its affiliate businesses saw reservation revenue increase by 65 percent, comparing April 2010 with one year earlier.The growth occurred in large part due to an increase of 444 hotels joining the...

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Sterling adopts rights plan

Sterling Financial Corp. has implemented a shareholder rights plan to protect tax assets accumulated as it reported substantial operating and capital losses in recent quarters.The assets, $269 million, can be used to offset an equal amount of future profits. But, said Vice President Dave Brukardt,...

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Local foreclosure rates increase 

The March real estate foreclosure rate in Spokane County jumped 81 percent compared with February. The rate in Kootenai County also climbed.According to RealtyTrac, 107 homes were foreclosed in Spokane last month, or one in every 1,844 homes. Only 59 homes were foreclosed in February,...

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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.

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