State Congressional Delegation In Spokane To Discuss Economy

Members of Washington’s congressional delegation hold a daylong conference Friday in Spokane to examine the economic health of Washington state and provide updates on federal changes that may affect local businesses.

Led by U.S. Rep. Jennifer Dunn, Washington’s senior Republican in the House, the Washington State Economic Forum will run 9 a.m. to 3 p.m. at the Spokane Convention Center.

Dunn, Rep. George Nethercutt of Spokane and other legislators will report on congressional action in 1995, while two panels of business leaders will air their concerns about how government policy may affect the way they do business.

Panelists will include: Colville lumberman Duane Vaagen; Judi Williams of Telect Inc.; James Rundle, general manager of Hewlett-Packard Spokane Division; Washington Water Power Chairman Paul Redmond; and Karen Lee, chairwoman of the Washington Biotechnology and Biomedical Association in Seattle.

Washington Gov. Mike Lowry will speak at noon, providing an update on state legislative changes.

The conference costs $25 per person and includes lunch. Call 206-441-6448 to register.

In other events this week:

Today

Major stock exchanges close early for Independence Day; some commodity markets closed all day.

U.S. Department of Commerce releases figures on personal income for June.

National Association of Purchasing Management releases its June survey on manufacturing.

Detroit automakers announce June sales figures.

Tuesday

Independence Day holiday. U.S. financial markets and most businesses are closed.

Wednesday

Federal Reserve’s policy-setting Open Market Committee begins two-day meeting in Washington, D.C. Financial markets are watching to see whether the Fed will lower interest rates to stimulate the economy.

Thursday

Spillman Agronomy Farm field day begins at 8 a.m. two miles south of Pullman on Johnson Road. Call Baird Miller at 509-335-2858.

MCI pulls its 48-foot “Cyber-rig” into the parking lot at the Spokane Intercollegiate Research and Technology Institute for two days of hands-on demonstrations of the information superhighway’s potential. The trailer, containing a TV studio and six workstations loaded with software, will be open from 10 a.m. to 3 p.m. Thursday and Friday, and by appointment.

Commerce Department releases leading indicators for June.

Nation’s largest retailers announce their June sales results.

Friday

Hispanic Business and Professional Association meets at 11:30 a.m. at Cavanaugh’s Inn on Fourth Avenue. Cost: $6.50 for lunch. Call Michele Maher at 891-0625.

Labor Department releases June employment report. , DataTimes ILLUSTRATION: Graphic: Measuring the Economy - Sales tax receipts

MEMO: This sidebar appeared with the story: ON THE SHELF Business Week, July 3: 401(k) plans are firmly established as the retirement vehicle of the future, says Business Week, and that means companies need to make sure they’re offering the best plan possible.

Looking ahead U.S. companies that spent the most on research and development in 1994, as ranked by Business Week:

General Motors, $7.14 billion Ford Motor, $5.21 billion IBM, $3.38 billion AT&T, $3.11 billion Hewlett-Packard, $2.03 billion Motorola, $1.86 billion Boeing, $1.70 billion Digital Equipment, $1.30 billion Chrysler, $1.30 billion Johnson & Johnson, $1.28 billion