Tom Sowa

Spokane insurance firm Moloney O’Neill has been sold to a larger California company, Alliant Insurance Services. Terms of the acquisition were not disclosed.

Spokane County, like much of the nation, saw a decline in “flipped” home sales in the second quarter of this year. RealtyTrac said 55 Spokane homes were sold by flippers in the second quarter, down from 66 in the second quarter a year ago. The company tracks foreclosures and sales nationwide and collects an array of real estate data.

Two Spokane roofing competitors have ended up in court, wrangling over the ownership of the website SpokaneCommercialRoofing.com. Les Ludtke, owner of Spokane Commercial Roofing, is suing competitor Jeffrey Sitton, saying Sitton “cybersquatted” his website name, SpokaneCommercialRoofing.com, and caused his business financial harm.

Despite solid gains in private jobs, summer layoffs at area universities and local school districts pushed Spokane County’s July unemployment rate up by two-tenths percent, to 5.7 percent, state officials said Tuesday. June’s revised jobless rate for Spokane was 5.5 percent. Washington state’s July jobless rate was 5.4 percent, up slightly from 5.3 percent in June.

The company that sued a Spokane Valley man over alleged illegal movie downloads has dropped the lawsuit, saying it achieved its intended result of curbing Internet piracy. Elf-Man LLC, an East Coast media company that created a made-for-video film called “Elf Man,” filed suit last November against Ryan Lamberson seeking unspecified monetary damages for copyright violations.

Spokane home sales picked up in July, but with minor drops in average and median sales prices, the Spokane Association of Realtors said. Home sales in July grew to 626, up from 600 in June, said Rob Higgins, the association’s chief executive.

CenturyLink on Tuesday said it now offers 1-gigabit-per-second fiber-optic Internet service in parts of Spokane, looking to lure business customers away from cable or DSL. The expansion extends fiber service to downtown Spokane, some areas north of downtown, parts of Spokane Valley and portions of Airway Heights, said Tom Novotney, general manager for CenturyLink in Washington.

Investigators say the possible theft or confiscation of mail affects 1,000 South Hill Spokane residents.

The Hart Capital Inland Northwest Index posted a 6.3 percent gain during the second quarter, propelled by Avista Corp., Clearwater Paper and Hecla Mining. The chart tracks the stock prices of 12 publicly traded companies based in the Inland Northwest. The number shrank from 14 in the first quarter after Sterling Financial Corp. was acquired by Umpqua Bank and after Sandpoint retailer Coldwater Creek closed in bankruptcy.

The former president of Spokane’s tourism promotion agency says the new Walt Worthy hotel downtown lacks the brand-name recognition needed to attract significant new bookings for conventions and meetings. Harry Sladich, who headed the former Spokane Convention and Visitors Bureau and now is an executive at Red Lion Hotels, said Marriott’s Autograph Collection brand is not as widely known as the Marriott, Hyatt or Hilton names. Because of that, he believes the Grand Hotel Spokane could have trouble meeting expectations for room bookings in the future.

Red Lion Hotels announced plans to sell the chain’s Bellevue location, expecting to cash in on roaring property values in the Seattle area. Red Lion hasn’t set an asking price; it will offer the property to the highest bidder. Robert Anderson, an investment specialist for Seattle-based Kidder Mathews, which listed the property, said, “I’m not sure where the price could end up. Any definitive estimate of the sale price is difficult and will be decided by the market. The info sheet is:http://www.bellevuelandsite.com/

Columbia Banking System, based in Tacoma, has acquired Sandpoint-based Intermountain Community Bancorp, the third-largest community bank headquartered in Idaho. The two companies announced Thursday they signed an agreement to merge in a stock-and-cash deal worth about $121.5 million, or about $18.22 per share, at Columbia’s current stock price. .

State employment officials have created a web page for workers and businesses affected by the recent Eastern Washington wildfires. That page explains those left out of work due to fires can apply for benefits via that site or by calling 800-318-6022.

Spokane’s slow but steady economic pulse picked up in June as the county’s jobless rate fell to 5.6 percent, the first time it dipped below 6 percent since 2008, the state Employment Security Department said. The county’s jobless rate in May was 6.6 percent.

Washington Trust Bank has purchased the empty Ridpath Annex with plans to convert the building into office space to absorb the bank’s downtown growth. The bank’s purchase brings an end to the once-ambitious plans of four development partners who bought the building eight years ago for conversion to condominiums.