Business in brief: Moscow business tops list for area
The highest-ranking Inland Northwest company on Inc. Magazine’s list of fastest-growing companies is one not widely known. It’s Economic Modeling Specialists, in Moscow. The 55-person firm builds Web tools used by governments and companies to track labor market conditions and business data.
It ranked 409th among private companies that experienced the fastest revenue growth in the past year.
Other area companies on the list: Spokane-based Signature Genomic Labs, 1,012th; Liberty Lake-based IT-Lifeline, 1,580th; Spokane-based Magnuson Hotels, 1,821st; Coeur d’Alene-based Sunshine Minting, 1,967th; Coeur d’Alene-based Pita Pit USA, 2,335th; Spokane-based Challenger Pipe & Steel, 2,411th; Pure Health Systems, based in Sandpoint, 2,415th; Spokane Valley-based Purcell Systems, 4,469th; and Liberty Lake’s PCO, 4,497th.
Tom Sowa
Car dealers assured clunker cash coming
Washington – Transportation Secretary Ray LaHood assured car dealers Wednesday that they will be reimbursed for the money they have fronted to customers buying vehicles under the cash for clunkers program.
LaHood was responding to complaints over a backlog of rebate payments. Dealers must cover customer rebates out of pocket and wait for reimbursement from the federal government.
“I know dealers are frustrated. They’re going to get their money,” LaHood told reporters.
LaHood’s assurances came as a growing number of dealers ceased offering the program. A group representing New York metro dealerships said Wednesday that hundreds of its members have withdrawn from cash for clunkers.
GM cancels plans for Buick crossover
Detroit – General Motors Co. Vice Chairman Tom Stephens said Wednesday that the company is scrapping plans to produce a Buick crossover sport utility vehicle, just weeks after announcing the product to a flurry of negative reviews.
Stephens, writing on GM’s FastLane blog, said that after previewing designs to consumers during a showcase of the company’s future lineup, executives canceled plans to move forward with the midsize vehicle.
“The Buick crossover we showed received consistent feedback from large parts of all the audiences that it didn’t fit the premium characteristics that customers have come to expect from Buick,” Stephens wrote.