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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

In brief: S-R blogger Sennett takes Chicago post

The Spokesman-Review

Frank Sennett, a freelance columnist and blogger for The Spokesman-Review, has been named editor in chief of Time Out Chicago, a weekly entertainment and lifestyle magazine.

Sennett’s Hard 7 column has appeared in The Spokesman-Review’s 7 section and online at www.spokane7.com since May 2004. His final column will run Dec. 28. His Blogspotter column, which runs in the .TXT section, will end Monday.

Sennett described the move as a “once in a lifetime” opportunity.

“Before I came out here, I was the managing editor of an alternative weekly in Chicago and editor of an online alternative press network, so including the 7 experience, it seems like the weekly format has become part of my DNA,” Sennett said.

London-based Time Out publishes weeklies in 23 cities worldwide. The Chicago edition has a circulation of about 40,000 and competes with several other alternative weeklies in the city.

– Ken Paulman

Seattle

Costco CEO’s pay far below average

Staying true to the company’s reputation for keeping costs low, Costco Wholesale Corp. President and Chief Executive Officer Jim Sinegal was paid far less this year than his CEO peers, getting no raise for a seventh consecutive year.

Sinegal, 71, received compensation the company valued at nearly $3.2 million in 2007, according to a proxy statement filed Tuesday with the Securities and Exchange Commission, far less than the $8.3 million median pay for chief executives in 2006 calculated by the Associated Press.

While Sinegal remains one of the lowest-paid CEOs of a Standard & Poor’s 500 company, he’s no pauper. He owns Costco shares worth $165.11 million at Tuesday’s closing price of $68.45, as well as options to buy another 1.12 million shares.

For fiscal 2007, which ended Sept. 2, Sinegal received a $350,000 salary; an $80,000 bonus; stock awards and options worth about $2.6 million; and roughly $68,500 in perks, including company matches for retirement contributions, life insurance, health care premiums and a vehicle allowance.

Costco shares rose 28 cents to close at $68.45 Tuesday. The stock has traded from $51.52 to $72.68 over the past year.

– Associated Press

Olympia

State jobless rate down in November

Washington’s jobless rate has dipped slightly to 4.7 percent, continuing a streak of low unemployment that reflects a strong state economy, officials said Tuesday.

The latest unemployment figures, covering November, are a small reduction from the 4.8 percent reported in October.

Washington employers added 5,200 jobs last month, building on the estimated 6,900 jobs added in October, state Employment Security Commissioner Karen Lee said.

Payrolls have grown by 78,600 in the past 12 months – an annual growth rate of 2.7 percent, outpacing the national rate of 1.1 percent. The state’s jobless rate was 5 percent one year ago.

November’s jobless report continues the state’s yearlong string of low unemployment numbers. The modern record for low unemployment, 4.4 percent, was set in April. Economists typically say anything below 5 percent is textbook full employment.

“Our unemployment rate has stayed remarkably consistent and remarkably low since the beginning of the year,” Lee said.

– Associated Press