June 13, 2012 in Business

Viking Tavern closes; state says taxes unpaid

From Staff And Wire Reports
 

Owners of the north Spokane nightclub Viking Tavern closed its doors Tuesday, a business worker said.

The company that is the listed owner is Spokane firm Phoenix IV Inc., with Barbara Randazzo as one of the principals.

The worker said Randazzo told her the closure is “indefinite.”

The Viking Tavern, at 1221 N. Stevens St., has been in business since the 1990s. It took over the location of another popular Spokane hangout, Ahab’s Whale.

Court records show that both the state Labor & Industries and Revenue departments have filed court claims against Phoenix IV for delinquent taxes. The Department of Revenue issued a warrant last November for $2,200 in unpaid taxes.

Fed official’s remarks spur Wall Street rally

NEW YORK – Stocks staged one of their strongest rallies of the year Tuesday, erasing a big decline from the day before, after a Federal Reserve official said he supported more measures to stimulate the economy.

The Dow Jones industrial average shot up 162 points, and every major category of stock in the U.S. market closed higher.

Charles Evans, president of the Fed’s Chicago bank, told Bloomberg News that he supported action to produce faster job growth, including having the Fed commit to super-low interest rates until unemployment falls significantly.

Last week, Fed Chairman Ben Bernanke told a committee of Congress that he was ready to act if the economy needs it, but he laid out no immediate steps.

JPMorgan CEO plans apology to Congress

NEW YORK – JPMorgan Chase CEO Jamie Dimon plans to apologize before members of Congress today for a trading loss that has cost the bank more than $2 billion.

He is also saying that the bank has taken steps to make sure it does not happen again.

“We have let a lot of people down, and we are sorry for it,” Dimon says in testimony prepared for his appearance before the Senate Banking Committee today. The testimony was released Tuesday by the bank.

Dell computer company to start paying dividends

AUSTIN, Texas – Computer maker Dell Inc. said Tuesday that it will soon pay its first dividend.

Dell was one of many technology companies that did not pay a dividend. But the company said its strong cash flow will enable it to add a dividend program beginning in the third quarter.

The Austin, Texas-based company plans to pay a quarterly dividend of 8 cents per share, which represents a yield of 2.7 percent based on the closing price of the company’s shares on Monday.

Dell shares rose 36 cents, or 3 percent, to $12.33 in after-hours trading. The stock rose 11 cents to close at $11.97 in the regular session.


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