Week in review
Tuesday
Quest Aviation of Sandpoint received federal approval last week to begin manufacturing and selling the single-engine Kodiak plane, after passing scrutiny from the Federal Aviation Administration. Full FAA certification is still about a year away, said Paul Schaller, Quest’s president and chief executive officer. Quest already has 100 orders for the turboprop planes, which will retail for nearly $1.3 million.
“Wal-Mart Stores Inc., the world’s largest retailer, said Monday it is cutting prices on more than 16,000 items starting this week in a bid to turn around sales for the critical back-to-school season.
“Starbucks Corp. said Monday it was raising prices for its coffee and other freshly made drinks in most of its U.S. stores by 9 cents this month, citing rising costs, including dairy products, energy and fuel.
WEDNESDAY
“The Pop Shoppe, a familiar name to pop-lovers who lived in the area during the 1970s, recently opened in a 350-square-foot store at 1002 S. Perry St. Today’s bottles sport the familiar red-and-white label but aren’t the same squatty shape that some might remember.
“Four Washington State University students from the Spokane campus beat out professional architects from around the country in a national design competition.
Thursday
Boeing Co. shares traded at an all-time high after the airline maker posted its largest profit in 3 1/2 years, earning nearly $1.1 billion in the second quarter as it continued to pound away at its European rival Airbus.
FRIDAY
Wall Street finally caved Thursday. For months, investors had looked past a series of warning signs. The Dow Jones industrials plunged 311.50, or 2.26 percent, to 13,473.57. The close was the Dow’s worst since the 416.02 it lost on Feb. 27 after a plunge in the Shanghai stock market.
“Potlatch Corp. remains on track to sell about 20,000 acres of timberland this year, cashing in on demand for wooded cabin sites and land for recreational use, officials said Thursday. The sale of 7,500 acres during the second quarter generated about $7.4 million in income for the Spokane-based company.
“America the Beautiful Dreamer, a store specializing in bedroom furniture, is moving out of NorthTown Mall and into its own building at 7306 N. Division St., near Costco. The 12,000-square-foot store is a little bigger and the stand-alone building can become more of a destination for furniture shoppers than the current site, said Doug De Grange, an owner of the business.