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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Business briefs: Ambassadors Group to lay off 60 workers

From Staff And Wire Reports

SPOKANE – Ambassadors Group, the educational travel company that operates the People to People program, will lay off 60 people.

The company notified the employees under Washington’s Worker Adjustment and Training Notification Act, which requires 60-day notice of layoffs for large companies.

Spokane-based Ambassadors Group laid off 40 people last June. At the time company officials said the job cuts would bring the company’s workforce to 170, with 150 of those people in Spokane.

Company representatives didn’t return a call seeking comment on the latest downsizing.

Earlier this month Ambassadors Group reported a 2014 loss of $17.5 million, compared with a loss of $7.1 million the previous year. The number of people who traveled on its various programs fell to 16,092 last year from 18,251 in 2013.

Northwest Farm Credit Services bought the Ambassadors Group building near Spokane’s airport for $9 million in November. The building, along with 11 acres of land at 2001 S. Flint Road, had been for sale for two years.

Many major retailers happy with holiday tally

As they finish tallying their holiday take, many retailers are reporting the key shopping season was good for their bottom lines. But they are entering the new year with some caution.

Wal-Mart, Target, Nordstrom, Home Depot, Macy’s and Kohl’s were among the major retailers that this week reported fourth-quarter earnings that beat analysts’ expectations. Even long-suffering Sears posted a narrower loss than anticipated Thursday.

Retailers beat earnings expectations on average by 5.6 percent, according to a report from Retail Metrics, a retail data research firm.

Poll finds families not ready for setback

WASHINGTON – Nearly six years after the Great Recession, a clear majority of American families say they feel unprepared for a financial emergency.

The Pew Charitable Trusts’ poll of 7,000 U.S. households found 57 percent don’t consider themselves ready for a sudden financial setback, 55 percent say they break even or spend more than they make each month, and a third have no savings.

The survey does note signs of improvement: 56 percent rate their own financial situation as positive, up from 55 percent on the eve of the recession in 2007; 27 percent give the economy a positive grade, equal to pre-recession levels.

Hurting SeaWorld plans brand campaign

ORLANDO, Fla. – SeaWorld Entertainment will soon debut a brand-repairing campaign and is holding off on ticket price increases.

Orlando-based SeaWorld told analysts its plans as it released a fourth-quarter earnings report Thursday showing lower revenue than the previous year. SeaWorld reported an adjusted net loss of $25.4 million versus $13 million a year ago.

Interim Chief Executive Officer David D’Alessandro told analysts a targeted marketing campaign starting by April will focus on consumers who feel ambivalent about SeaWorld.

Some people vehemently oppose keeping animals in captivity, while others support SeaWorld enthusiastically. “This is not a hit-and-run as we say in the marketing world, where you can just advertise for a month and hope it goes away,” D’Alessandro said. “This is changing mindsets and making sure mindsets stay changed, recognizing that the opposition is not going to stand still as we do this.”