May 31, 2012 in Business

GSI honors seven firms with Agora Awards

 

Seven Spokane area firms were winners in the annual Agora Awards competition, honoring business excellence.

In a Wednesday morning event hosted by Greater Spokane Incorporated, the winners in several categories were:

• Large nonprofit: Greater Spokane County Meals On Wheels.

• Small nonprofit: Greater Spokane Substance Abuse Council.

• Small business: Angus Meats.

• Medium business: Dutch Bros. Coffee.

• Large business: Baker Construction and Development.

• Entrepreneurial spirit: Maid Naturally.

• Community Service Award: Action Moving Services.

This was the 27th year the awards were presented.

Staff report

Obama signs bill extending Export-Import Bank

WASHINGTON – President Barack Obama has signed legislation that renews the charter of the Export-Import Bank for three years and increases the bank’s lending cap to $140 billion from the current $100 billion. The bank is the government’s vehicle for promoting U.S. export sales.

Obama said the move will help thousands of businesses sell their products and services overseas and help them create jobs at home.

Lawmakers passed the legislation earlier this month amid resistance from conservatives who argued that the bank distorts the market.

The bank had support from numerous business groups.

Last year it provided about $32 billion in loans, loan guarantees and credit financing, helping support 290,000 jobs.

Associated Press

Market gives thumbs down to Facebook once again

NEW YORK – After a brief reprieve in morning trading, Facebook’s stock once again closed lower on Wednesday, nearly $10 below its initial public offering price.

Shares of Facebook Inc. dropped 65 cents, or 2.3 percent, to close at $28.19. It’s the third consecutive trading day the stock has dropped from the previous close.

It got some relief earlier in the day, going as high as $29.55.

Wednesday’s close is down about 26 percent from the stock’s IPO price of $38.

Associated Press


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