The Spokesman-Review Newspaper
The Spokesman-Review Newspaper The Spokesman-Review
Spokane, Washington  Est. May 19, 1883
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Week in review

The Spokesman-Review

TUESDAY

Spokane venture capital firm Northwest Venture Associates, which has funded companies including World Wide Packets and SprayCool, will not seek to raise a new fund. It will focus instead on its existing portfolio of 16 companies. Managing partner Tom Simpson said the venture model for traditional early state investing is “somewhat confused and broken” right now.

“ A Silver Valley pharmacy paid $214,000 to settle allegations by the U.S. attorney’s office that it billed Medicaid patients more than other customers for the same prescription drugs. The pharmacy also was accused of overcharging Medicaid. While not admitting wrongdoing, the pharmacy agreed to pay damages to both the federal government and the state of Idaho.

WEDNESDAY

A finding by the U.S. Ninth Circuit Court of Appeals will remand a major energy trading case back to the Federal Energy Regulatory Commission. The court found that FERC failed to consider new evidence of market manipulation when it denied requests for power contract refunds. Though federal investigators in 2004 exonerated Avista of any wrongdoing during the 2000-2001 energy crisis, the decision could ensnare the Spokane company in another round of legal wrangling.

“ Kohl’s, a value-priced department store chain, will open a Spokane store and a Coeur d’Alene store on Oct. 3. No opening date has been announced for the company’s third planned store, in Spokane Valley.

THURSDAY

Dozens of Spokane flights were among hundreds that Horizon Air canceled beginning Wednesday so specialists could inspect the landing gear on Q400 airplanes after two similar models experienced problems during flights in Europe. Cancellations continued on Thursday and Friday.

Potlatch Corp. is buying $215 million worth of timberland near McCall, Idaho. The company will evaluate how much of the 179,000 acres to put into timber production and what to sell for real estate development.

FRIDAY

The INB Performing Arts Center in downtown Spokane has completed a $2.7 million facelift that included new landscaping along with new carpeting, paint and lobby furniture.