John Stucke

Cruise ship operator Royal Caribbean Cruises Ltd. may open a call center in Spokane Valley and hire 1,400 workers within five years, said City Councilwoman Diana Wilhite. The Miami-based cruise line has whittled the list of cities for its business expansion to two: Spokane Valley and Eugene, Ore.

Health care accounts for one in five Spokane jobs, and there's opportunity for even more, asserts a report released Monday. David Bunting, an Eastern Washington University economics professor, determined that about 50,000 jobs in Spokane County are related to caring for people, whether that's a nurse or hospital housekeeper, a health-insurance executive or a clinic secretary. Bunting's study is based on 2001 figures, a turbulent year in Spokane's economy. Still, he said, the health-care industry here is relatively stable and is unlikely to have changed much since then.

Many Washington wheat farmers are relieved that Monsanto Co. stopped development of genetically engineered spring wheat that could have jeopardized overseas sales. "I was surprised by the decision but kind of glad they came to the realization that until there's consumer acceptance, it's not worth it," said Whitman County farmer Randy Suess. "We know it's the wave of the future, but that's a ways off yet."

Deborah Bortner, the state's securities chief and a tenacious critic of Metropolitan Mortgage & Securities Inc., has been demoted as part of a political shake-up. As head of the securities division within the Department of Financial Institutions, for the past 10 years she's been the state's top cop investigating investment scams, crooked stockbrokers and the wrongdoings of major investment firms. Bortner said her style clashed with that of Helen Howell, the director of the DFI, who was appointed by Gov. Gary Locke 20 months ago.

A federal grand jury is investigating Metropolitan Mortgage & Securities Inc., an indication that the bankruptcy case could include criminal elements. An attorney representing the company suggested the issues were akin to those at Enron, Adelphia and WorldCom - scandalous cases where executives have been accused of looting the companies under the noses of independent auditors.

A court-appointed examiner who's been charged with delving into Metropolitan Mortgage & Securities Inc.'s financial dealings has asked the court to pay him $900,000 for that work, which is expected to take 45 days.

Metropolitan Mortgage & Securities Inc. made an offshore investment six years ago that the Internal Revenue Service determined was designed to deprive the U.S. government of millions of tax dollars.

Metropolitan Mortgage & Securities Inc. wants to freeze all lawsuits against former executives and board members, claiming that the money spent on defense lawyers could run into the millions of dollars.

Amid financial turmoil and allegations of corporate malfeasance, Metropolitan Mortgage & Securities Inc. is seeking bankruptcy court permission to hire a crisis manager for $80,000 a month.

Monday's meeting of Metropolitan Mortgage & Securities Inc. creditors was reduced to one pressing question: "Will we get our money back?"

Burned investors may have been shocked by the quick collapse of Metropolitan Mortgage & Securities Inc., but regulators have known for years that the company was on shaky financial ground.

The success of Metropolitan Mortgage & Securities Inc.’s bankruptcy reorganization hinges on Washington Insurance Commissioner Mike Kreidler.

Metropolitan Mortgage & Securities Inc. may abandon its bankruptcy plan that envisioned creditors taking ownership of a newly reorganized company.

Metropolitan Mortgage & Securities Corp. has lost a $29 million tax fight with the Internal Revenue Service, dragging its large insurance affiliate into receivership.

Metropolitan Mortgage & Securities Inc. will try to chart a course through bankruptcy reorganization without a board of directors.

Metropolitan Mortgage & Securities Inc. executives seek continued salaries and payments as the company wrestles with bankruptcy.

An independent investigator should look into allegations that Metropolitan Mortgage & Securities Inc. executives committed fraud, according to the U.S. Securities and Exchange Commission.

With tears and resignation, C. Paul Sandifur Jr. is losing his family's legacy.

Beset by investigations, an auditing fiasco and unpaid, upset investors, Metropolitan Mortgage and Securities Inc. is betting on bankruptcy as its best chance at survival.

Metropolitan Mortgage & Securities Inc. is filing for bankruptcy next week, seeking relief from mounting debts and angry investors. The company will attempt to reorganize under Chapter 11 bankruptcy law, according to a press release issued Friday.

State officials are investigating dozens of former Metropolitan Mortgage brokers who allegedly used unscrupulous sales practices to sell risky stocks and bonds.