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

Bert Caldwell

This individual is no longer an employee with The Spokesman-Review.

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News >  Business

Local campaign revs engine on ‘Buy Local’ theme

I first worked as a journalist for the Cut Bank Pioneer Press, and my first hard-hitting assignment was covering the community’s sidewalk sales event. Sidewalk sales were – still are – one of the simple promotional devices small-town merchants used to capture what retail dollars they could before folks packed up for, say, Great Falls and a splurge at the JCPenney or Herberger’s. Despite the best efforts of the Cut Bank Café, couples would drive 100 miles for a meal. I recall one run to Lethbridge in the midst of a brutal winter just for a feast of good Chinese food. If a lawyer friend had not known the border guard at Del Bonita – the gate came down at 9 p.m. – we might have spent a longer night in Alberta than we intended.
News >  Business

Heating up the home market

Sterling Savings Bank and Banner Bank are offering mortgages at interest rates below 4 percent in a pair of programs designed to help their contractor customers move unoccupied homes – and show that the banks are putting federal bailout money to work in Northwest communities. The low rates benefit buyers and builders, bank officials said this week, and Banner and Sterling get to work down contractor loans that have damaged their balance sheets.
News >  Spokane

Banks offer mortgage deals on unoccupied homes

Sterling Savings Bank and Banner Bank are offering mortgages at interest rates below 4 percent in a pair of programs designed to help their contractor customers move unoccupied homes – and show that the banks are putting federal bailout money to work in Northwest communities.
News >  Business

Grapetree Village extends its reach

Architect Glen Cloninger has begun construction on another phase of the Grapetree Village development on East 29th Avenue in Spokane. The 24,000-square-foot expansion is a continuation of the original, slightly smaller structure that opened in 2007, Cloninger said. He said that space is fully leased.
News >  Business

Vehicle sale offers GM stock to buyers

Knudtsen Chevrolet Co. opens for business on Wall Street this week. The dealership, 1500 E. Polston Ave. in Post Falls, will reward customers with 100 shares of General Motors Corp. stock if they buy a vehicle during a five-day sale that begins Wednesday, general sales manager Joe Morris said Monday.
News >  Business

Workers now own all stock in SEL

His name is on the stationery, but Ed Schweitzer is now just one of 1,400 owners of the company he founded 25 years ago in Pullman. Schweitzer Engineering Laboratories Inc. this month became 100 percent employee-owned.
News >  Business

Tapping into the wealth of a nation

The 60-odd members of a Spokane delegation that returned a week ago from China were still adjusting to Pacific Daylight Time at midweek. For most, it was an exhaustive trek from Beijing to Suchou to Hangchou to Shanghai that combined stops at many of the usual tourist destinations with factory tours.
News >  Business

Apply2Save loses BBB accreditation

Apply2Save Inc. has lost its accreditation by the Spokane Better Business Bureau, which has fielded more than 2,200 inquiries about the Coeur d’Alene mortgage modification company this year. BBB regional president Jan Quintrall said her office has also received 90 complaints against Apply2Save in the last year. Although company officials have responded to every one, the volume and the company’s inability to meet BBB customer service standards resulted in an “F” grade and a decision in February by the organization’s board of directors to revoke accreditation, she said.
News >  Business

Port of Ephrata wins grant supporting tire factory

State officials Thursday awarded a $1 million grant to the Port of Ephrata to support a proposed $50 million plant that will make the giant tires used on mining equipment. The Republic Public Development Authority received $280,000 to install water, sewer and electrical service to the Torboy Industrial Park.
News >  Business

Here’s the Dirt: Grapetree Village expanding

Architect Glen Cloninger has begun construction on another phase of the Grapetree Village development on East 29th Avenue in Spokane. The 24,000-square-foot expansion is a continuation of the original, slightly smaller structure that opened in 2007, Cloninger said. He said that space is fully leased.
News >  Business

Proto owner named Washington’s small-business person of the year

Rory Lee Nay presides over a wood shop, machine shop, paint shop and urethane shop – each a separate operation within Proto Technologies Inc. of Liberty Lake. She does it so well the U.S. Small Business Administration earlier this month named her Washington State Small Business Person of the Year.
News >  Business

Gregoire backs college surcharge

Washington Gov. Chris Gregoire Tuesday proposed a surcharge that might enable the state’s four-year campuses to minimize enrollment cutbacks, but that may not help Spokane’s Rick Hensley, who lost his radiology job in January. Hensley asked Gregoire, who was holding a business roundtable at Spokane Community College, to assure funding for a Yakima Valley Community College program that will enable him to upgrade his skills and get back into the profession.
News >  Business

Spokane County jobless rate edges up

Spokane County saw a net loss of only 30 jobs in February compared with January, as unemployment rose slightly to 9.7 percent. The increase follows a jump in unemployment of more than 2 percentage points from December to January.
News >  Pacific NW

Spokane unemployment hits 9.7 percent

Only 30 more Spokane County workers were jobless in February compared with January as unemployment inched up to 9.7 percent, after a jump of more than 2 percentage points from December to January.
News >  Business

Vehicle sale offers 100 GM shares to buyers

Knudtsen Chevrolet Co. opens for business on Wall Street this week. The dealership, 1500 E. Polston Ave. in Post Falls, will reward customers with 100 shares of General Motors Corp. stock if they buy a vehicle during a five-day sale that begins Wednesday, general sales manager Joe Morris said Monday.
News >  Business

Guilty plea a brief victory for those who lost so much

The anger of Bernard Madoff’s victims spilled onto Manhattan’s Pearl Street on Thursday, freshly heated by a confession that touched all the requisite legal bases but never touched home. In a plea allocation slightly more than five pages long, the gray-suited, silver-haired villain outlined his preposterous scheme, made all the more absurd by the utter inability of any regulator to unmask what had been unmasked for them. For anyone who would look closely, his financial wizardry was as credible as those old crudely doctored photos that appeared to show a swami levitating.
News >  Business

Takeover squabble tarnishes Gold Reserve’s Venezuela project

When the blue whale surfaced, Gold Reserve officials knew they had found something special beneath the forest of southeastern Venezuela. Doug Belanger, president of the Spokane company, said he and Chief Executive Officer Rocky Timm had followed well-regarded Placer Dome Inc. into Bolivar State. Encouraged by that company’s drilling activity, they did a flyover of adjacent claims to detect mineralization.
News >  Business

JPMorgan is banking on Campbell’s local ties

Old National Bank was folded into U.S. Bank 20 years ago, but its former management team continues to accrue interest. Witness the pending ascension of Phyllis Campbell to the chairmanship of JPMorgan Chase & Co. Pacific Northwest. She becomes the fourth ONB executive now heading a Northwest bank. The others are Pat Fahey, chairman and chief executive officer of Frontier Financial Corp. in Everett; D. Michael Jones, president and CEO of Banner Bank in Walla Walla; and Harold Gilkey, chairman and CEO of Sterling Financial Corp. in Spokane.
News >  Business

Fallout from junket incidents worries convention promoters

Public anger over junkets taken by executives whose companies received federal bailout money threatens a convention and meetings business that employs a million people, including thousands in Spokane, local officials said Friday at a River Park Square rally. Although Spokane has not yet lost any convention bookings, said Spokane Regional Convention and Visitors Bureau President Harry Sladich, competition for the midsize groups that come to the city will increase if heavyweights like Las Vegas start looking for business too small to bother with in better times.
News >  Business

Refurbished motor court offers low-cost, downsized housing

Wells & Co. will reintroduce motor court living to the Spokane real estate market Sunday. Developer Ron Wells has finished an overhaul – really a rebuilding – of eight small homes and two townhouses that once constituted the Casa Grande Motor Court. Crews are finishing four others. And the motor court’s former store is for sale as a store or restaurant, he said.
News >  Business

Here’s the Dirt: Wells and Co. finishes cottages

Wells and Co. will reintroduce motor court living to the Spokane real estate market Sunday. Developer Ron Wells has finished an overhaul — really a rebuilding — of eight small homes and two townhouses that once constituted the Casa Grande Motor Court. Crews are finishing four others. And the motor court’s former store is for sale as a store or restaurant, he said.
News >  Business

Airport receives stimulus money

Spokane International Airport will receive $18 million in federal economic stimulus money, Director Neal Sealock said Wednesday. The funds will allow the airport to accelerate projects already planned, he said, possibly avoiding the need for a third construction season to wrap up the work.