November 19, 2010 in Business

Briefcase

 

BPA seeks 8.5 percent wholesale rate increase

PORTLAND – The Bonneville Power Administration is seeking an 8.5 percent increase in the average wholesale rate for power it sells to local utilities and industrial customers in the Northwest.

The agency filed the proposal Thursday in the Federal Register.

BPA says it needs more money to upgrade the aging hydroelectric dams it depends on for power, buy fuel and do repairs at its nuclear power plant in Washington, and make dam modifications that help endangered salmon.

Associated Press

Deal Planet to feature coupons for local businesses online

Two Spokane companies have launched the Deal Planet, a daily online coupon offer modeled on the popular approach taken by Groupon.com.

Bozzi Media and Se7en LLC began testing the plan in the past two weeks. They’ve concluded the plan is ready for prime time, said Vince Bozzi, of Bozzi Media.

The service sends consumers daily e-mails offering discounts on Spokane and North Idaho businesses, such as restaurants, teeth whitening clinics or movie theaters. The initial test offered $26 of value in tickets, popcorn and drinks at the Garland Theatre for $12.

Starting Nov. 29, the Monday after Thanksgiving, the Deal Planet will offer a new coupon daily, Monday through Friday.

Bozzi said roughly half the revenue goes to the merchant, with the remainder divided between Se7en LLC and Bozzi Media. He said the two companies plan to give 2 percent of their revenue to a different charity each month. Find more information at www.thedealplanet.com.

Tom Sowa

Kim Crompton to become editor of Journal of Business

Richard Ripley will retire as editor of the Journal of Business on Dec. 31, and news editor Kim Crompton will succeed him, the biweekly business newspaper announced Thursday.

Paul Read, assistant editor, will be promoted to operations manager, a new position, Publisher Greg Bever said.

Ripley, 63, joined the publication in 1987 and became editor in 1995. He previously worked for The Spokesman-Review and the Idaho Statesman.

Crompton, 58, will take over as editor on Jan. 1. He joined the Journal in 1989, after a decade of reporting at The Spokesman-Review and Spokane Daily Chronicle.

Read, 49, will become operations manager on Jan. 1. He was a founding employee of the Journal in 1986 and has covered business news in Spokane for more than 26 years, previously with the Spokane Business Examiner.

The Journal of Business and The Spokesman-Review are owned by Cowles Co.

Staff report

Earnings roundup

• Sears Holdings Corp.’s third-quarter loss nearly doubled, dragged down by weak revenue at its long-suffering Sears chain, hurt by poor sales of appliances and clothing.

• Staples Inc. reported its third-quarter net income rose 7 percent despite only a small increase in revenue.

• Retailer Williams-Sonoma Inc.’s net income rose in the third quarter, but investors were not so cheery about the company’s guidance for the holiday season.

• Teen clothing retailer American Eagle Outfitters Inc. reported a dip in its third-quarter net income because of one-time charges, but its adjusted earnings met analyst expectations.

Associated Press


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