January 10, 2013 in Business

Intermountain trading on NASDAQ exchange

 

Shares of Intermountain Community Bancorp, the holding company of Panhandle State Bank, began trading Wednesday on the NASDAQ exchange under the ticker symbol IMCB.

The Sandpoint-based company previously was listed on the Over the Counter Bulletin Board.

The change “will increase the visibility of our company in the marketplace,” said Curt Hecker, Intermountain’s CEO, in a prepared statement.

Intermountain operates as four divisions with 19 banking locations in three states. Locations include Sandpoint, Ponderay, Bonners Ferry, Priest River, Coeur d’Alene, Post Falls, Rathdrum and Kellogg in Idaho, Spokane and Spokane Valley in Washington.

Information: www.intermountainbank. com.

Staff report

Dog treats makers recall some products

NEW YORK – Two makers of pet treats are pulling products from the market because they may contain traces of poultry antibiotics that aren’t approved in the U.S.

Nestle Purina PetCare is taking Waggin’ Train and Canyon Creek Ranch brand dog treats off the market, while Milo’s Kitchen is recalling its Chicken Jerky and Chicken Grillers home-style dog treats.

The chicken jerky products, which are made in China, may contain minute amounts of antibiotic residue, the companies said Wednesday. The antibiotics have been approved by Chinese and European Union regulators, but they are not approved in the U.S.

The companies said the treats don’t pose a safety risk to pets, but they are still pulling them off the market. The recall doesn’t cover other products the companies sell.

Milo’s Kitchen said there is no known health risk associated with the antibiotics, but their presence means the products don’t meet its standards. It said the chemicals “should not be present in the final food product.”

Associated Press

Morgan Stanley plans to cut 1,600 jobs

NEW YORK – The investment bank Morgan Stanley plans to cut about 1,600 jobs, nearly 3 percent of its workforce, a person familiar with the bank said Wednesday. The cuts will focus on senior ranks at the bank.

About half of the cuts will be in the U.S. Morgan Stanley’s investment banking unit has been asked to cut about 6 percent of its staff. Back-office functions, including human resources and communications, have also been asked to cut staff.

Job cuts have become common in the banking industry, which has been shrinking in the years since the financial crisis imploded. In December, Citigroup said it would cut 11,000 jobs.

Associated Press

Comics Buyer’s Guide to close on March issue

PHILADELPHIA – Krause Publications said it is folding the long-published Comics Buyer’s Guide with the March issue, blaming a decline in advertising and free content online for the demise of the magazine titles that began reporting on the comic book industry in 1971.

In a statement Wednesday, Krause blamed “poor market conditions” for the move. Issue No. 1,699 will be the last one published.

The magazine was started by Alan Light as the Buyer’s Guide for Comic Fandom, publishing monthly at first, then twice a month, then weekly. Krause acquired the magazine in 1983 and changed the name to Comics Buyer’s Guide shortly thereafter, with Don and Maggie Thompson as editors.

The magazine’s website will remain active as an archive resource.

Associated Press

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