Business Stories 95 In Review

1. Labor unrest

Strikes plauged two of Spokane’s largest manufacturing employers at Steelworkers went on strike at Kaiser Aluminum and Machinists walked out at Boeing. A strike by the Teamsters union at Broadview Dairy continues.

2. Economy cools off

The Spokane area economy slowed down after five years of rapid growth. Home sales, housing starts and retail sales dropped below 1994 levels. Cost of living became a problem in a city once known as one of the nation’s most affordable.

3. Egghead moves in

Egghead Software moved its headquarters from Issaquah to Spokane and Sallie Mae located a regional loan-processing center in Spokane, giving the city two major economic plums.

4. Downtown redevelopment

Developers proposed an $80 million River Park Square redevelopment project to keep Nordstrom and The Bon from leaving downtown. But at year-end commitments had not been secured from two department stores. Also downtown, STA Plaza opening and Crescent Court neared full occupancy.

5. Smith’s bankruptcy

Smith’s Home Furnishings went out of business, leaving some without warranties and products they had paid for.

6. Merger hits snag

In a surprise ruling, the Federal Energy Regulatory Commission delayed a proposed merger between Spokane-based Washington Water Power Co. and Reno-based Sierra Pacific Resources.

7. Farm bill advances

Congress moved toward passing a Farm Bill that would roll back farm subsidies.

8. Greyhound Park closes

Coeur d’Alene Greyhound Park, one of North Idaho’s most recognized tourist attractions, ended live racing.

9. Louisiana Pacific’s woes

Portland-based Louisiana Pacific Corp. was buffeted by controversy as it faced lawsuits over faulty siding and closed operations, including its Post Falls sawmill.

10. Rates decrease

Business taxes and workers’ compensation rates decreased in Washington state.

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