SEC asked to curb punitive firms

Wall Street’s leading trade group is calling on the Securities and Exchange Commission to stop public companies from punishing analysts who criticize a company’s performance or prospects.

In a letter to the SEC, the Securities Industry Association urged the agency to work with industry regulators to address the issue.

SIA Deputy General Counsel George Kramer said the trade group has heard reports of public companies “putting pressure on research analysts” or threatening to take adverse action against them.

Threats include “pulling business away from the firm, limiting the analyst’s access to senior management, not taking the analyst’s questions in conference calls,” and other measures, Kramer said in a telephone interview Wednesday.

Google gets license to operate China office

Online search engine leader Google Inc. has opened a small office to host meetings when its workers are visiting China, setting the stage for a possible expansion in one of the world’s fastest growing economies.

The Mountain View-based company has been licensed to operate a “representative” office, but none of its 3,500 employees work in the country full time, company spokeswoman Debbie Frost said.

Google is interested in expanding in China, but is still trying to learn more about the market before making a move, Frost said. “There are a number of future options we are considering but do not have any details to share at this time,” she said.

The company’s Web site listed a job opening on Wednesday for a marketing communications manager for mainland China.

McDonald’s CEO sees continued recovery

The first-year CEO of McDonald’s Corp. told shareholders Wednesday that the company will extend its strong two-year recovery through more healthy menu choices and a continued focus on customer service.

Speaking at the annual meeting of the world’s largest fast-food chain, Jim Skinner said McDonald’s also will launch a new promotional campaign touting healthy lifestyles.

“We have great momentum. Our charge is to keep it,” said Skinner, the third CEO to preside over the McDonald’s annual meeting in as many years.

Skinner took over in November after Charlie Bell was forced to resign because of cancer, just seven months after replacing James Cantalupo, who died in April last year from a heart attack. Bell died in January.

Despite the turnover in the executive suite, McDonald’s has strung together its best stretch of same-store sales growth in nearly 25 years, announcing on Monday its 24th consecutive month of improved global sales.

Microsoft in deal to launch MSN China

Microsoft Corp., the world’s largest software firm, said Wednesday it formed a joint venture with Shanghai Alliance Investment Ltd. to launch Web portal MSN China later this spring.

Microsoft already offers its MSN Messenger instant messaging service and the MSN Hotmail e-mail service in Chinese, but said the new venture will deliver more comprehensive communications and information for the 94 million Chinese who were online in 2004.

“You look at the Internet audience in China as large and growing, and there’s great opportunity there,” said Adam Sohn, a global sales and marketing director at MSN.

Microsoft was little concerned that China censors Internet content, Sohn said.

Bill’s failure hits payday-lending firms

Shares of several payday-lending companies fell Wednesday after a bill in the Texas legislature that was heavily supported by the industry died on a technicality.

The bill would have standardized lending rules in Texas along the lines of the majority of states and given lenders more flexibility, said Stephens analyst Dennis Telzrow.

Shares of Advance America Cash Advance Centers Inc. fell $1.65, or 12 percent, to close at $12.50 on the New York Stock Exchange.

Cash America International Inc. ended down 41 cents, or 2.5 percent, at $16.22.

On the Nasdaq Stock Market, First Cash Financial Services Inc. shares fell $2.03, or 10 percent, to $17.44.

Ace Cash Express Inc. shares dropped $2.22, or 9.2 percent, to $21.80.

Without the state law, lenders in Texas operate under a bank model and use out-of-state affiliates to make loans, he said.

Late restaurateur John McDaniel honored

In a ceremony Wednesday, late Spokane restaurateur John McDaniel received the Lifetime Achievement Award from the Spokane Convention and Visitors Bureau.

McDaniel, “a longtime champion and friend of the (hospitality) trade,” according to the CVB, was president of Northwest Hospitality LLC, which owned and operated 10 Perkins restaurants in Washington and Idaho. He also worked for the Old Spaghetti Factory and Elmer’s Restaurants chains during his career, and served on many local boards of directors. He died last month.

Other winners of the CVB’s 2005 tourism awards were: Silver Spoon — Pauline Riley, Niko’s Greek Restaurant & Wine Bar; Top Table — The Palm Court Restaurant at The Davenport Hotel; Tourism Professional of the Year — Kevin Baker, Red Lion Hotel at the Park; White Glove — the housekeeping staff at The Davenport Hotel; First Impression, Hotel — Mary Williams, DoubleTree Hotel Spokane City Center; First Impression, Sales — Tammy Lease, DoubleTree Hotel Spokane City Center; First Impression, Transportation — Harla Jean Biever, Group Coordinators; Attraction — Spokane Opera House; Festivals and Events — First Night Spokane; Hospitality Volunteer of the Year — Karin Ryon, Red Lion Hotel at the Park; In the Bag — Auntie’s Bookstore; Near Nature, Near Perfect — Arbor Crest Wine Cellars; On the Move — Inland Empire Distribution Systems; and Rising Star — John Gumenberg, Red Lion Hotel at the Park.