Briefcase

Red Lion Corp. names new executive VP, CFO

Spokane-based Red Lion Hotels Corp. named Julie Shiflett as its executive vice president and chief financial officer, effective today.

Shiflett has been the hospitality company’s vice president of finance since October 2010. Before coming to Red Lion, Shiflett was CFO at Spokane’s Signature Genomics Laboratories.

Shiflett replaces Dan Jackson.

Tom Sowa

Idaho Walmarts to carry local produce in Sept.

A Walmart store in Meridian, Idaho, plans to sell locally grown produce at an outdoor market starting today. During the month of September, the market will feature corn, cantaloupes, pears, peaches, nectarines, lettuce, beets and other fruits and vegetables.

Walmart has an ongoing relationship with Idaho Preferred, an Idaho State Department of Agriculture program to identify and promote Idaho foods.  Throughout Idaho Preferred Month, 16 Walmart Supercenters across the state will offer local fresh produce in their stores.

Other Idaho-grown or processed foods are available year-round at Walmart, such as wine, milk, meat, bread, potatoes and onions, said Leah Clark, manager of the Idaho Preferred program.

Becky Kramer

Costco CEO Sinegal stepping down next year

ISSAQUAH, Wash. – Costco Wholesale Corp. said Wednesday that its CEO Jim Sinegal plans to step down effective Jan. 1.

The warehouse club chain said its board has elected the company’s current president and chief operating officer, Craig Jelinek, to take over the top job on that date.

Sinegal will remain with Costco through January 2013, serving in an advisory role and assisting Jelinek in the transition. He will also continue to serve on the board of directors.

The Seattle Times reported that Sinegal said he decided to step down party because of his age, he will turn 76 on Jan. 1, and because Costco is in good shape.

Associated Press

Dow ends wild August with fourth day of gains

NEW YORK – Stocks edged higher for a fourth straight day Wednesday on a report that factory orders surged in July. The Dow Jones industrial average turned higher for the year. The Dow’s winning streak ended a tumultuous August that included four consecutive days of swings of 400 points or more, a first in the history of the index.

A surge in factory orders indicated to investors that the manufacturing industry is still healthy. Orders rose 2.4 percent in July, the largest increase since March, after falling 0.4 percent in June.

The Dow rose 53.58 points, or 0.5 percent, to end at 11,613.53. It fell 4.4 percent for the month, although it is now up 0.3 percent for the year.

Associated Press