Week in review

TUESDAY

Boeing Co. on Monday said it will formally protest a $35 billion Air Force contract awarded to European Aeronautic Defence and Space Co. and Northrop Grumman Corp. The award to replace 179 air-to-air refueling tankers is the first of three Air Force contracts to replace its fleet of nearly 600 aging tankers and could be worth $100 billion over the next 30 years.

“The state Senate voted unanimously for final passage of HB 500, to revise rules for commercial leases of state endowment lands to include renewable energy projects.

WEDNESDAY

Attempting to break the credit logjam that is threatening the already weakened economy, the Federal Reserve on Tuesday announced a new program to pump massive sums into major banks and brokerages.

The battered stock market, which Monday had fallen to its lowest levels in at least 18 months, responded with its biggest one-day rally in five years. The Dow Jones industrial average rocketed 416.66 points, or 3.6 percent, to 12,156.81.

“ The Minnesota company that operates Cenex Inc. is buying 33 Spokane-area and North Idaho Zip Trip convenience stores. The 33 stores, which constitute the largest locally owned convenience store chain, had been operated the past two years by Spokane business owner Ian Johnstone. Terms of the purchase were not disclosed.

“The cost of filling up the family car climbed to a record high. The price of a gallon of unleaded gas was $3.35 in Spokane on Tuesday, up from $2.54 a year ago. In Coeur d’Alene a gallon cost $3.18, up from $2.43 a year ago, according to AAA.

THURSDAY

“Southwest Airlines Co. grounded 43 planes to examine whether they were structurally sound enough to carry passengers after it recently acknowledged it had missed required inspections of some planes for cracks. Southwest shares fell more than 9 percent before closing down 7.3 percent.

FRIDAY

Armed with more color and features to thwart counterfeiters, a new $5 bill went into circulation. Color changes, including a purple 5 on the back of the bill, were added to help the visually impaired. Security features include a new watermark and a security thread that glows under ultraviolet light. About 212 millon of the bills will be released during the next three weeks.

“Liberty Lake tech company SprayCool has pulled back plans to expand into the data-center thermal management market.