Business

In brief: Black Realty president John Bennett dies at 57

Longtime Spokane real estate manager John Bennett, president of Black Realty Management Inc., died recently at his residence. He was 57.

The cause of death was not immediately known, said Dave Black, CEO of NAI Black.

Bennett was known as one of the area’s foremost property experts. He spent more than 35 years working in the Spokane brokerage business, first with Bennett Management Co., operated by his father, and then with the James S. Black Co.

After the Black Co. purchased the Bennett family brokerage, Bennett became a principal with Black Realty Management, the division of the company that provided building services to dozens of area properties.

He became both its president and chief operating officer.

“John Bennett was the hardest-working, smartest and most prolific communicator I have ever known,” Black said. “He was at the top of his game. Our clients respected and loved him, especially those in our institutional, retail, office and entrepreneurial sectors.”

Mark Cuban acquitted in insider trading case

DALLAS – Mark Cuban won a years-long fight with the federal government Wednesday as jurors decided that the billionaire basketball team owner did not commit insider-trading when he sold his stake in an Internet company in 2004.

The jury in federal district court in Dallas said that the Securities and Exchange Commission failed to prove the key elements of its case, including the claim that Cuban agreed to keep certain information confidential and not trade on it.

The nine-member jury deliberated only a few hours before reaching the verdict that ended a three-week trial and an SEC lawsuit filed in 2008.

EBay trims outlook for current quarter

San Jose, Calif. – EBay said the growth rate of e-commerce in the U.S. is slowing as it delivered a weaker-than-expected profit and revenue outlook for the current quarter through December. The company’s third-quarter earnings edged past analysts’ expectations, but revenue rose just short of estimates.

Following the release of the financial results Wednesday, eBay Inc.’s stock fell 5.3 percent to $50.70 in after-hours trading.

The San Jose, Calif.-based online auctioneer, marketplace host and payments processor said U.S. e-commerce had been growing at an annual 15.5 to 16 percent pace, but it slowed to around 13 percent by the July-September quarter.

That softening, plus a weaker U.S. dollar affecting its overseas transactions, led the company to say its annual profit and revenue would come in at the low end of its outlook.



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