Business in brief: Industry honors Rosauers CEO

The Washington Food Industry named Rosauers Supermarket CEO and President Jeff Philipps its 2009 Retailer of the Year.

The group, based in Seattle, gave the honor to Philipps for sustaining jobs and paychecks to workers during a tough economy and last year’s disruptive winter.

When a store roof at a Rosauers supermarket collapsed under heavy snow, Philipps relocated employees and paid 90 percent of their salaries plus health benefits instead of laying them off during the four-month repair project.

“When companies throughout the Northwest and the country were shedding employees, Jeff decided to do the right thing for the well-being of his people,” said Jan Gee, President and CEO of Washington Food Industry.

From staff reports

Ambassadors earnings drop

Spokane travel company Ambassadors Group reported third-quarter earnings Wednesday of 64 cents per share, a 6 percent drop from 68 cents per share in the same quarter one year ago.

Its third quarter net income decreased 6 percent to $12.5 million, down from $13.3 million for the third quarter of 2008.

The global economic downturn has produced declines in total overseas travel, said Ambassadors Group CEO Jeff Thomas. Even so, Thomas said aggressive cutting of expenses helped Ambassadors come through the first three quarters of 2009 in good shape.

Despite booking 17 percent fewer travelers this year compared with 2008, operating income for the first nine months of the year grew by 14 percent, Thomas noted.

Tom Sowa

Wal-Mart adopts price-cut plan

New York – Wal-Mart, which has ridden low prices to dominate the U.S. retail scene, stepped up its game in price cutting still further Wednesday.

The world’s largest retailer said it will cut prices this holiday season for a week at a time on thousands of items, from bananas to board games.

The nationwide cuts start this week with bananas selling for 39 cents per pound, rolls of lean ground beef for $1.25 per pound and select board games for $15.

Associated Press

PayPal drives eBay revenue up

San Francisco – EBay Inc. said Tuesday that even as third-quarter net income dipped 29 percent, its revenue rose largely because more people and merchants are using PayPal to pay for things online.

The San Jose, Calif.-based company said the number of active PayPal accounts rose 19 percent to 78 million compared with a year earlier. That contributed to a 15 percent revenue jump to $688.1 million in its payments business.

Associated Press