Week in Review
Top Story
Don’t expect the regional and local economies to soar next year like they did in 2005, a trio of economists predicted. Job growth in Idaho is expected to slow to 2 percent next year, from 3 percent in 2005, while in Washington, job growth of under 2 percent is predicted, compared with 2.5 percent this year. The current year has seen strong job growth regionally, solid income growth and huge gains in home values compared with 2004.
Tuesday
Kaiser Aluminum posted an $11.9 million profit for the third quarter, a major improvement over the $69.5 million loss for the same three-month period last year when the company surrendered its pension plans to the Pension Benefit Guaranty Corp as part of its bankruptcy reorganization.
A leaked internal Wal-Mart Stores document said the Arkansas-based retailer plans to open 484 stores next year, about 100 more than previously disclosed.
Wednesday
The federal agency that insures the private pensions of 44 million workers announced that as of Sept. 30 it has $56.6 billion in assets to cover $79.2 billion in liabilities.
Thursday
A new plan to mine gold at Buckhorn Mountain in north-central Washington is receiving its first public airing and proponents are hoping for a favorable community response. The mine’s owner hopes to finish the permitting process in time to start construction in June.
“ Casual Corner stores in downtown Spokane and the Spokane Valley Mall will close by the end of January as part of a nationwide shutdown of the retailing company.
“ The average sales price of a home in Kootenai County topped $210,000 for the first 10 months of the year.
Friday
Seattle-based Starbucks Corp. has regained the right to its name in Russia, clearing the way for the company to open coffee shops there, although it currently has no plans to do so. Starbucks had engaged in a lengthy legal battle with a trademark squatter who was asking $600,000 for rights to the logo.
“ Rates on 30-year mortgages edged up slightly this week, posting the 10th consecutive increase and keeping rates at the highest level in more than two years. The nationwide average for 30-year, fixed-rate mortgages rose to 6.37 percent.