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Office Hours archive for Jan. 1, 2010


Three groups win top Spark Awards

Three area groups and their ad agencies won the top awards in the recent Spark Awards, presented by Spokane Regional MarCom Association, made up of area marketing and public relations professionals.About 80 different Spark awards were presented to groups, businesses and associations for creative work.…

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Malcolm Unsworth is the CEO of Itron Inc., a publicly traded company with world headquarters in Liberty Lake. (J. Bart Rayniak)

Itron could use more visits with Obama

Did it make any difference when Itron Inc. CEO and President Malcolm Unsworth met with President Barack Obama in a Rose Garden ceremony last week?The Itron stock symbol seems to tell the story.On Friday morning, April 30, Itron shares opened at $80.45. That morning Unsworth,…

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TUESDAY, MAY 4, 2010

MONDAY, MAY 3, 2010

Sterling recapitalization plan nears completion

Sterling Financial Corp. today announced new investments that could fulfill the Spokane institution's need for additional capital.Thomas H. Lee Partners, which last week committed $134 million to the recapitalization effort, will increase its investment to $170 million.Sterling said it will also offer, in a private…

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FRIDAY, APRIL 30, 2010


Treasury consents to Sterling terms

The U.S. Treasury will accept a steep markdown of its investment in Sterling Financial Corp. as part of a recapitalization plan, the Spokane company announced today.The markdown was a condition imposed by Thomas H. Lee Partners, which has committed $134.7 million to Sterling's recapitalization.Treasury in…

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AmericanWest narrows losses

AmericanWest Bancorporation today reported a net loss for the first quarter of $8.5 million, or 50 cents per share, down significantly from prior quarter and prior year levels.The Spokane parent of AmericanWest Bank lost $17.7 million, or $1.03 per share during the fourth quarter of…

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Potlatch posts lower earnings

Potlatch Corp. posted lower first quarter earnings of $1.2 million today, compared to $24.8 million during the first quarter of 2009.Last year's earnings included $43 million in revenues from the sale of timber land in Arkansas.Highlights from this quarter included a strengthening in the Spokane-based…

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MONDAY, APRIL 26, 2010

Construction contracts multiply

The value of permits for future construction in Spokane County more than doubled in March, but was flat for the first three months of the year, according to McGraw-Hill Construction, an industry publication.Activity in Kootenai County increased in March and during the quarter.Although non-residential construction…

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FRIDAY, APRIL 23, 2010

Sterling stock rockets

Shares of Sterling Financial Corp. climbed more than 65 percent Friday on trading volume 15 times normal.The stock, which closed at 87 cents Thursday, finished the Friday trading day at $1.45, and advanced another seven cents in after-hours trading.The 16.2 million shares traded represent almost…

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Northwest Bancorporation returns to profitability

Northwest Bancorporation Thursday reported its first profitable quarter in more than a year.The parent of Inland Northwest Bank earned $586,000 in the quarter ended March 31, a reversal from a loss of $256,000 for the first quarter of 2009. After allowing for preferred stock dividends…

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Tree planting revives Kendall Yards 

With the planting of a tree, developer Jim Frank today revived the Kendall Yards development on the north bank of the Spokane River.The first 18 units of the $25 million residential and commercial project, stalled by the financial problems of the previous developer, should be…

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GU's MBA program gets national ranking

Gonzaga University's master's of business administration program ranked No. 58 in the most recent rankings for "part-time MBA programs" prepared by U.S. News & World Report.In the specialty rankings, GU's accounting program scored No. 31. Its entrepreneurship program was No. 24 (see item below on…

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Business plan winners announced 

Gonzaga University undergraduate and graduate students swept the 10th Annual Business Plan Competition Tuesday.A team led by Stratton Shook won the $7,500 Telect Entrepreneurial Venture Award for Community-Based business. The team developed a plan for Good Greetings LLC, an online greeting card company co-founded by…

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MONDAY, APRIL 19, 2010

Spokane visitor numbers increase

Spokane County hotels have sold substantially more rooms so far in 2010, and bookings for future business are up dramatically, the president of the Regional Convention & Visitors Bureau said today.Harry Sladich said a survey by Smith Travel Research Inc. showed increased business has also…

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FRIDAY, APRIL 16, 2010

Agora Award finalists announced

A clinic, a cellar, and a caterer are among the finalists for the 2010 Agora Awards announced today by Greater Spokane Incorporated.For small non-profits, the finalists are Christ Clinic, Spokane Humane Society, and Tincan.Among the large non-profits, Catholic Charities of Spokane, The Salvation Army of…

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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.

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