Week in Review
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Developer and hotelier Walt Worthy sold his Rock Pointe office complex just north of downtown Spokane for $82.8 million. The buyer is Prium Cos., a Tacoma real estate firm that a few years ago purchased another Worthy office building on East Trent Avenue. Prium approached him about buying the complex, which includes four buildings, almost 600,000 square feet of office space, 2,000 parking spaces and land for up to two more buildings, Worthy said. Dave Black, of Tomlinson Black Commercial, said a deal of that size is “almost unheard of” in Spokane and that it’s a good sign investment capital has discovered the region.
Tuesday
West Corp. said it would hire 240 more workers for its three Spokane-area call centers. The new employees will mostly handle inbound customers service calls. West Corp. acquired Dakotah Direct in 2002. The company employs 1,450 in Spokane.
“ One of every nine Idaho residents earns a paycheck from the tourism industry, according to a new state study. Tourism jobs in Idaho doubled over the last six years and the payroll has tripled, the study found. In Kootenai County, 13 percent of jobs are linked to tourism.
“ Merck & Co. said it would eliminate 7,000 jobs and five production plants in a global reorganization sparked by tumbling revenues and the squeeze of multiple Vioxx-related lawsuits.
Wednesday
Creditors of Kaiser Aluminum have voted to approve the company’s bankruptcy plan. The expected development means the plan can be affirmed, clearing the way for Kaiser to emerge from its four-year bankruptcy reorganization.
“ Gold prices broke through the critical $500-an-ounce threshold in Asian trading, before retreating in later trading.
Thursday
A California company recently purchased the Crescent building in downtown Spokane for almost $20 million and has plans to update it. The buyer was FPA Crescent Associates LLC, which is affiliated with Fowler Property Acquisitions of Larkspur, Calif.
“ Lloyd Industries, of Spokane Valley, said it will launch a new retail line of its heavy duty commercial bakeware. The company said it also wants to open a retail store in downtown Spokane.
Friday
According to a poll released Thursday by Wake Up Wal-Mart, an anti-Wal-Mart group launched this year by the United Food and Commercial Workers union, more Americans have an unfavorable view of Wal-Mart today than at the start of the year. The poll showed that a majority, 58 percent, viewed Wal-Mart favorably, but the figure was down from 76 percent in January.
“ Auto sales rose in November compared to a dismal October, but the results were still disappointing to automakers who introduced a flurry of discounts to lure buyers to showrooms. Sport utility vehicle sales slid again. Ford Motor Co. said sales of its Ford, Lincoln and Mercury brands were down 11 percent compared to last November.