October 22, 2005 in Business

Buck named to economic council

Compiled from staff and wire reports The Spokesman-Review
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CJ Buck, chief executive officer of Buck Knives in Post Falls, has been named to the Idaho Economic Advisory Council.

Council members are appointed by the governor to provide private-sector input to state economic and community development programs. Ty Jenkins, chief executive officer of DocuTech Corp. in Idaho Falls, was also named to the council.

“It’s a pleasure to welcome CJ Buck and Ty Jenkins to the Idaho Economic Council,” said Roger Madsen, Idaho Commerce & Labor director. “The wealth of business experience and entrepreneurial spirit they bring to the council will help further Idaho’s economic and development efforts.”

Buck is the fourth generation of his family to run the business. After graduating from high school in 1978, he started working summers at the company. In 1982, he graduated from National University in San Diego with a degree in business administration. He became chief executive of Buck Knives in 2001, and was instrumental in the company’s move from San Diego to Post Falls two years ago.

Jenkins founded DocuTech Corp. in 1991 to bring mortgage professionals more efficient methods of processing loans.

Northwest resumes hiring replacements

Minneapolis Northwest Airlines Corp. resumed hiring permanent replacements for striking mechanics on Friday, after their union refused to put the company’s latest offer to a vote.

Few thought union workers would approve the deal, which would have only brought back about 500 of more than 4,000 union members who went on strike.

But it would have been the first up-or-down vote on a company offer. The union leadership has been criticized for not allowing votes on earlier offers, including one just before the strike that would have brought back 2,750 workers.

When The Aircraft Mechanics Fraternal Association agreed to the vote on Oct. 14, it told members, “When you look at the details you will be hard pressed to find anything ‘good.”’

It said about 541 to 580 replacement workers would keep their jobs, and they wouldn’t have to join the union or pay dues. Even workers who got their jobs back would have been working for smaller paychecks under a company-imposed contract.

But the union called off the vote late Thursday, saying Northwest inserted language in its written offer that had not been discussed before.

Stewart to pay chairman $725,000 a year

Washington Martha Stewart Living Omnimedia Inc. Friday said it signed a two-year consulting agreement with company chairman Charles A. Koppelman.

Martha Stewart Living said in a Securities and Exchange Commission filing that it will pay Koppelman’s consulting firm $725,000 a year for his services.

He also will be eligible for a “performance fee” of up to $3 million, depending on its achievement of certain performance goals.

Martha Stewart Living agreed to grant Koppelman 75,000 shares, plus options to buy 200,000 shares, with an exercise price equal to the stock’s fair market value on the grant date, which was Friday.

Shares of Martha Stewart Living closed Friday at $20.35 on the New York Stock Exchange.

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