S-R launches Web site for vehicle enthusiasts

The Spokesman-Review has jumped into the world of online social networking with MotorSpaceNW.com, a new Web site for vehicle enthusiasts.

The free site connects people who share a love of cars, trucks, motorcycles, RVs, NASCAR, collector cars, drag racing, the scooter scene and more.

The site was a clear choice for the company’s digital products group after seeing growing interest in SpokesmanAuto, which appears each Saturday as a section in the newspaper and is available online at SpokesmanAuto.com, said Shaun O’L. Higgins, director of sales and marketing.

“Clearly the Inland Northwest is a car lover’s haven, with classic car shows, auto auctions, drag racing and all kinds of motor-related activities most of the year,” Higgins said. “It made sense to capture all things motor-related in one place – including a vast marketplace of new and used autos.”

The site will features new postings daily, and users can share pictures and videos and learn about local events.

Portland

Costco profit up 7 percent

Warehouse-club operator Costco Wholesale Corp. said Wednesday that its fourth-quarter profit rose 7 percent as consumers shopped for bargains in the tough economy.

Shoppers flocked to the warehouse club for necessities such as food and sundries but shied away from big-ticket items such as furniture and jewelry, the company said.

The Issaquah, Wash.-based company said net income for the 16-week fiscal quarter rose to $397.8 million, or 90 cents per share, from $372.4 million, or 83 cents per share, a year earlier.

Revenue rose 13 percent to $23.1 billion from $20.48 billion last year.

NEW YORK

Gold prices top $900

Gold prices shot up above $900 an ounce Wednesday after the Federal Reserve slashed its key interest rate, undercutting the dollar and boosting demand for hard assets as an inflation hedge. Silver also rose.

In a coordinated effort with central banks around the globe, the Fed lowered its benchmark federal funds rate from 2 percent to 1.5 percent. The Bank of England and the European Central Bank also lowered their key rates, as did central banks in China, Canada, Sweden and Switzerland, as part of an emergency effort to unclog credit markets and prevent a global economic collapse.

Gold for December delivery jumped $24.50 to settle at $906.50 an ounce on the New York Mercantile Exchange.

From staff and wire reports