Bert Caldwell

Eaglecard Inc. has been grounded permanently. Despite an agreement with the Internal Revenue Service that provided for the return of company assets, attorney Barry Davidson said Eaglecard President C.E. "Ed" Franklin decided to liquidate the company rather than reorganize as proposed in a U.S. Bankruptcy Court petition filed April 15 in Spokane. Eaglecard issued credit cards good for merchandise from company catalogs, or use at a limited number of merchants around the country.

Eaglecard Inc. will be in U.S. Bankruptcy Court this morning seeking an order that would force the Internal Revenue Service to return assets seized earlier this month. The action against the Spokane credit card issuer shut down the company and froze the paychecks of its employees, some of whom were owed more than $500. Last month, state authorities filed suit against the company for alleged violations of consumer protection and telephone solicitation laws.

The sale of the Spokane Industrial Park and an increase in wholesale electricity revenues put a charge in Washington Water Power Co. earnings in the first quarter. The Spokane-based utility Tuesday reported a 48 percent jump in income for the period ended March 31, and a 27 percent boost for the 12-month period. Per share earnings were 71 cents vs. 48 cents for the first quarter of 1995. For the 12 months, earnings per share were $1.65 vs. $1.30 a year ago.

An acquisition late in the first quarter dragged down the earnings of Itron Inc., the Spokane maker of automated meter-reading systems for utilities. Including results from Utility Translation Systems Inc., Itron revenues increased 26 percent to $48.1 million. But net income slipped to $3 million from $3.3 million, or 21 cents per share, vs. 24 cents, after allowing for the additional 400,000 outstanding shares created as a result of the merger.

US West Communications Inc. has asked a King County Superior Court to block a $91.5 million rate reduction ordered last week by the Washington Utilities and Transportation Commission. The company late Monday asked for a stay, which would prevent a $1 rollback in the monthly cost of residential service from going into effect May 1, the date set by the commission. "We hope that we don't ever have to implement those rates," said US West spokeswoman Kathi Willis.

The benefits from a proposed merger between Washington Water Power Co. and Sierra Pacific Resources fall short of original estimates, according to documents filed last month with federal regulators. But the utilities say the decrease will not affect rate freezes that are in place until the year 2001. The Spokane- and Reno-based utilities shaved $52 million off the $450 million they had said a merger would save over 10 years.

Robert Hunter has developed a dent puller that is quickly being adopted by the auto repair industry. Photo by Dan Pelle/The Spokesman-Review

Tax deadline! Time to Party! Monday, thousands in Spokane will troop to post offices or special mailing centers to drop off their Internal Revenue Service forms. Their collective tax obligation probably runs into the millions of dollars. Their collective patience should be down to nanoseconds. But spirits always seem to be high. Why? Negative task gradient.

Washington regulators Thursday stunned US West Communications Inc. by cutting, not raising, the cost of telephone service for most state residents. US West says residential customers in Spokane will pay the second lowest urban telephone rate in the nation after the cut.

Getting to the point. Karen McMackin, a Group Health licensed practical nurse, prepares to immunize Phillip Sims as his mother Cynthia assists. Photo by Christopher Anderson/The Spokesman-Review

WWP Chairman Paul Redmond File/The Spokesman-Review

A groundbreaking policy adopted by the Bonneville Power Administration should improve relations with Native American tribes in the Columbia Basin, officials from the agency and tribes said Tuesday. The policy they unveiled is the result of two years of talks between the federal power-marketing agency and tribal authorities, Bonneville administrator Randy Hardy said. Provisions emphasize discussions between the agency and tribal officials will begin early when new programs are under consideration.

A third provider of telephone service could be operating in Spokane by the end of the year, officials with the newcomer say. GST Lightwave (Washington) Inc. has applied for a city franchise to run fiber-optic cable through an area bounded by Ninth Ave., the Spokane River, and Monroe and Sherman streets. Most downtown businesses and South Hill hospitals would be within the franchise boundaries.

Washington authorities have filed suit against Eagle Card Inc., alleging the Spokane credit card company violated consumer protection and telephone solicitation laws. Eagle, according to the complaint filed Monday in Superior Court, misrepresented the benefits of holding the company's three cards: the Credit Builder, Gold and Classic.

Spokane Capital Management has raised $5.8 million for investment in growing Northwest companies, Managing Director Tom Simpson said Monday. Inland Northwest Investors, the limited partnership holding the money, will fund as many as a dozen businesses over the next three years, he said. "Deal flow is not going to be a problem," Simpson said, noting he has more than 15 proposals on his desk already.

Global aspirations. Jim McCabe sorts and grades lumber which Plum Creek Remanufacturing, a major Spokane exporter, will turn into square posts to be shipped to Japan for use in building homes. Photo by Shawn Jacobson/The Spokesman-Review <

The Northwest Power Planning Council Wednesday adopted a draft five-year energy plan that members conceded will have less relevance as deregulation sweeps through the utility industry. But, they added, the 106-page document - plus appendices - represents the best comprehensive assessment of the region's resources and options. "It's written in a way to provide a helpful analysis," said Chairman John Etchart.

Laws governing fish and wildlife recovery efforts in the Northwest are not broken, but need repairs, environmental and utility officials said Tuesday in Spokane. Witnesses before the Northwest Power Planning Council almost unanimously supported preservation of the Northwest Power Act, Endangered Species Act, and tribal and Canadian treaties that regulate water, energy and fish resources. But there was plenty of disagreement about how well the region was managing those resources under the various legal authorities.

A newly formed subsidiary of Spokane-based Itron Inc. Thursday announced the formation of a joint venture with Portland General Corp. SI3 - for service, information, imagination and integration - will market automatic meterreading and related services to utilities around the country, according to a joint statement from the companies.

Industry officials in the Northwest expect a slow start to trading in energy futures, but quick growth as utilities and their customers become comfortable with the new market's possibilities. Activity in pits at the New York Mercantile Exchange, they say, will be another step toward complete deregulation of electricity markets, a trend that should ultimately lower energy prices for the consumer. Officials at Washington Water Power Co. and Kaiser Aluminum Corp. said they already make use of similar contracts for natural gas.

Spokane business and government leaders Tuesday launched a new partnership they say will expand increasingly vital commercial and cultural ties to other communities around the world. The Spokane Area International Trade Alliance, President John Wagner said, will enhance the area's reputation as a hub not just with potential trading partners, but with residents as well. For example, the organization will produce brochures, videos and a CD-ROM for businesses that want to show potential customers what the Spokane community looks like.

The Northwest Power Planning Council may help break an impasse between the Bonneville Power Administration and its customers, Administrator Randy Hardy said Friday. In a letter Bonneville received Wednesday, he said, the council offers to release the agency from some of its commitments to acquire conservation measures in return for less specific agreements to honor and expand already on-going efforts. Bonneville is required to pursue conservation measures as a way to reduce the Northwest's need for new generating resources.

Long-distance giant AT&T; Thursday notified regulators across the West that it plans to enter the market for local telephone service. Filings in the 14 states served by US West Communications are the precursors to negotiations between the two companies for access to local phone networks. Areas served by GTE and other carriers also are affected.

Group Health Northwest ranks fifth among all health maintenance organizations in quality of care, according to a survey by a national personal finance magazine. A survey conducted late last year by Bloomberg Personal rated 591 health maintenance organizations, or HMOs, according to the care members received. HMOs provide services using staff doctors and others, notably specialists, who are under contract.