Week in Review
The Catholic Diocese of Spokane said it would sell church property, such as its chancery in downtown Spokane and the home of Bishop William Skylstad, if a bankruptcy reorganization plan filed Monday is approved. The plan, designed to help settle sexual-abuse claims against the diocese, envisions two special trusts to pay those claims. It still must be approved by the U.S. Bankruptcy Court judge handling the case as well as by creditors.
Tuesday
Spokane-based HollisterStier Laboratories has signed an agreement with a Philadelphia pharmaceutical company to help produce an experimental drug to combat avian flu. HollisterStier will take key chemical components of the drug, Ampligen, formulate them and load the product into vials. The value of the contract wasn’t released.
“ Eighteen of a proposed 31 condominium units in the Morgan Building in downtown Spokane have been reserved. Developer Ron Wells and partners are dividing the historic building into residential and office condominiums ranging in price from $225,000 to $550,000.
Wednesday
Customers of Avista Utilities in Washington drove to Spokane from as far as Davenport, Colville and Moses Lake to tell state regulators what they think of the company’s proposal to increase electric rates by an average of 7.7 percent and natural gas rates by about 0.6 percent in the state. A workshop held by Idaho regulators the same night, however, was sparsely attended, even though it concerned a proposed 24 percent natural gas price hike — a pass-through of higher commodity costs Avista is paying. The company’s Washington customers also will be asked to pay that pass-through cost.
“ The Spokane Public Facilities District spends about $1 million more on staffing annually than average comparable organizations nationwide, a recent audit found. The district, which owns and operates the Arena, Convention Center and Opera House, also has higher-than-average maintenance costs. But the audit found that people who attend events at the PFD’s venues report a high degree of satisfaction with the organization’s facilities and staff.
Thursday
Fast-growing ISR, of Liberty Lake, said it has added a prominent technology researcher and Silicon Valley veteran, Howard L. Davidson, as its principal scientist.
“ Medicine Man Pharmacies, a small chain with locations in Kootenai County and Liberty Lake, said it has introduced a plan to sell generic drugs at a flat rate in an effort to attract new customers, as well as to make the common medications more accessible to the county’s low-income and uninsured residents.
Friday
Rates on 30-year mortgages topped 6 percent for the first time since March as financial markets continued to worry about inflation.