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Spokane, Washington  Est. May 19, 1883

Tom Sowa

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News >  Business

Sandpoint tech firm to add jobs, thanks to tax rebate

Sandpoint technology company Kochava has landed a substantial Idaho tax-abatement incentive that will lead to the hiring of at least 35 workers by 2017. The benefit is part of the state’s recently adopted TRI – Tax Reimbursement Incentive – program.
A&E >  Food

Nut Factory will close store, production site along I-90

The Nut Factory, a fixture along Interstate 90 for years, will close its retail and production site and move its wholesale operations to a nearby commercial warehouse. Owner Gene Cohen said the Spokane Valley site, at 19425 E. Broadway Ave., will be closed in the next few weeks. He didn’t disclose where the wholesale commercial production will be relocated. He also declined to say how the changes will affect his labor force.
News >  Business

Spokane meters will allow drivers to monitor, pay for spots with phones

One day your car will robotically drive you to your destination and park itself without your help. The chip in your cellphone will beep a command to the automated meter and with a swipe of the phone screen you’ll pay for the time you need. Or you’ll just tell the phone, “give me two hours.” Spokane drivers can get a first look at parking of the future later this year when the city of Spokane converts dozens of downtown meters so drivers can pay for time with smartphones and other wireless devices.
News >  Business

Sacred Heart to lay off 90 as Inland assumes X-ray, scanning services

About 90 employees of Providence Sacred Heart Medical Center will lose their jobs after radiology provider Inland Imaging announced it will take over X-ray and scanning services at the area’s largest hospital. Inland Imaging CEO Steve Duvoisin said he hopes to hire back many of the laid-off workers, but he couldn’t yet say how many.
News >  Business

Apartment construction near Gonzaga set for spring

Southern California developers plan to build a 60-unit student apartment complex on the west edge of Gonzaga University. David Schneider, director of a development group based in San Clemente, said he and his partners plan to build a second student housing complex in the Spokane University District after the GU project is finished in summer 2016.
News >  Business

Jobless rate dips in Spokane County

Spokane County’s unemployment rate fell to 5.7 percent in September, pushed downward by the return of teachers to classrooms. The jobless rate in Spokane County in August was 6 percent, according to the Washington Employment Security Department.
News >  Business

Key Tronic announces plans to cut 10 positions

Spokane Valley contract manufacturer Key Tronic Corp. plans to lay off about 10 of its local employees to cut costs after projecting a loss of at least $1.5 million in its latest quarter. The publicly traded company had 200 workers in the Spokane area before the cuts. The positions eliminated were across the board, Key Tronic Chief Financial Officer Ron Klawitter said.
News >  Business

Hart index sees slip in regional companies

Despite solid gains by regional banks in the third quarter, the Hart Capital Inland Northwest Index fell 5.7 percent in market value during the period. Stocks across the board didn’t fare much better in a tough quarter: the S&P 500 eked out a 0.6 percent gain and the Russell 2000 dropped by 7.7 percent in the same period. The index compiled by Spokane-based Hart Capital Management is a way to look at the performance of the 12 largest publicly traded companies in the region.
News >  Business

AmericanWest buying Bank of Sacramento

Spokane-based AmericanWest Bank announced it will acquire a Northern California bank with four branches and assets of $468 million. The deal with Bank of Sacramento must still be approved by regulators.
News >  Business

Huppin to receive national honor

Spokane businessman Murray Huppin will be recognized by the Anti-Defamation League next month, an honor he calls the most satisfying of his three-decade career. Huppin, 54, is president and CEO of Spokane-based consumer electronics retailer Huppin’s and its OneCall online division.
News >  Business

Red Lion hires former Coldwater Creek executive

Red Lion Hotels has hired former Coldwater Creek executive James A. Bell as executive vice president and chief financial officer. Bell, 47, will join the publicly traded hotel company at the end of October. He will take over a position held by Julie Shiflett. Shiflett will remain executive vice president of finance until Dec. 31.
News >  Business

Cyan agrees to ‘Myst’ TV deal

“Myst,” the popular Spokane-made video game that became a cultural icon, will be turned into a live-action TV series. Cyan Worlds, the maker of “Myst” and several later versions of the game, announced it has signed a deal with Burbank, California-based Legendary Pictures to make a video version of the time-traveling story on which the game is based.
News >  Business

Credit cards get tech upgrade

Banks and credit unions across the region are making the switch from magnetic swipe cards to the cards of the future – the safer kind with a microchip built in. The past year’s string of high-profile data breaches and cyberfraud incidents has pushed financial institutions in the United States to start adopting chip-based cards that already are widely used across much of the world.
News >  Business

Election 2014: Experience at issue in county treasurer race

The candidates fighting for the job of Spokane County treasurer agree on one thing: The post should go to someone who understands investments and government finance. They differ, of course, on why they believe their opponent is less qualified for the job.
News >  Business

Judge rules in case of foreclosed Lake CdA mansion

An Arizona developer who lost his Lake Coeur d’Alene luxury home to foreclosure this spring doesn’t have to return most of the items he took from the property before the new owner moved in, a bankruptcy judge said. Denny Ryerson, 69 and a Gonzaga University regent, lost his 11,000-square-foot lakeside mansion on Mica Bay after defaulting on bank loans.
News >  Business

Spokane County September home prices fall, sales rise

September home sales in Spokane County exceeded 500 for the first time since 2007. Nearly all other home sale indicators showed a slight downturn, said Rob Higgins, executive director of the Spokane Association of Realtors. There were 504 homes sold last month, down from 608 in August.
News >  Pacific NW

Buried treasures

Back in 1961 the U.S. Air Force, without any attempt at secrecy or stealth, hauled nine long-range ballistic missiles by truck from California to Eastern Washington. The trucks carried 82-foot-long Atlas E missiles that ended up parked inside heavily reinforced underground sites. Each missile was later armed with a 4-megaton nuclear bomb, ready to be launched.
News >  Business

Pub will open in historic Broadview Dairy

Half-joking, Patrick McPherson says one reason he’s opening a pub downtown is to siphon business and cut the wait times at his popular South Hill hangout, the Manito Tap House. He’s getting ready to open a new gastropub, The Blackbird, in January, using the main floor of the Broadview Dairy building at 922 N. Washington St. The building had been home to Caterina Winery before it was closed. Retailer Bella Cova also operated there until this year.
News >  Business

Schweitzer Engineering names D’Acosta as new CEO

Fast-growing Schweitzer Engineering Labs has named Luis D’Acosta as its chief executive officer. D’Acosta succeeds company founder Edmund Schweitzer III in that role. Schweitzer will remain the company’s president and chairman. Schweitzer said the appointment will allow him to expand his focus on new technologies and growth opportunities.
News >  Business

Four Oz Fitness locations sold

Two Washington state business owners who have operated gyms in the Seattle area have purchased four Oz Fitness locations in Spokane and plan to spend more than $1 million to upgrade the facilities and training equipment.
News >  Business

Home prices in Spokane increased in August

The number of Spokane homes sold in August dropped from the month before, but prices rose solidly, the Spokane Association of Realtors reported. There were 608 homes sold in Spokane County in August, down from 625 in July.
News >  Business

Are smartwatches useful? It depends, says Valley developer

Some tech industry watchers say Tuesday’s announcement of Apple’s new smartwatch could change how people think of wearable technology. The “smart wearable” Apple devices – which will come in three versions – will start at $350. They will be available next year.