NEW YORK – The numbers are proving Federal Reserve Chairman Ben Bernanke’s critics wrong.
Money Watch
The draft of a new Port of Tacoma strategic plan calls for creation of a common user container terminal, more cost-competitive rail service, development of Tacoma as a strategic military port and attraction of more break bulk business to its terminals.
NEW YORK – On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It’s not McDonald’s or IBM, both of which have been on a tear.
NEW YORK – The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.
First Solar is warning that a construction delay threatens to undo its sale of a large solar project planned for Los Angeles County to power producer Exelon Corp.
Federal safety regulators are investigating reports of fires in the driver’s side doors of 2007 Toyota Camry sedans and RAV4 crossover SUVs.
Monthly U.S. exports to Europe grew in December, a hopeful sign after a steep decline the previous month. But some economists remain concerned that the region’s debt crisis will still drag down the U.S. economy this year.
Ben Bernanke says declines in home prices have forced many Americans to cut back on spending and warns that could weigh on the economy for years.
Greece’s future in the eurozone came under renewed threat as popular protests again turned violent and dissent grew among its lawmakers after European leaders demanded deeper spending cuts.
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The number of people seeking unemployment aid neared a four-year low last week, a positive sign that strong hiring could continue in the coming months.
PepsiCo is trying to put some fizz back into its business. The food and drinks maker announced a restructuring on Thursday that includes cutting 8,700 jobs globally and plowing money into advertising drinks like Pepsi and Mountain Dew in North America.
Eastman Kodak Co. said Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames, marking the end of an era for the company that brought photography to the masses more than a century ago.
Two key leaders in Ford’s remarkable turnaround are retiring. Lewis Booth, chief financial officer, and Derrick Kuzak, product development chief, will leave the company April 1.
Hours after Greece made the unpopular decision to slash government spending in an attempt to ease its debt crisis, Germany’s finance minister questioned whether the deal goes far enough to earn a crucial $172 billion bailout.
WASHINGTON – The average rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance.
SAN JOSE, Calif. – He had smoked pot and dropped LSD. He could be a pain to work with. He twisted the truth at times.
WASHINGTON – In unveiling a landmark $25 billion settlement of investigations of foreclosure abuses, federal and state officials said Thursday they were holding the nation’s five largest mortgage servicers accountable for the problems while also providing help to up to 2 million homeowners affected by the collapse of the housing market.
A landmark $25 billion settlement with the nation's top mortgage lenders was hailed by government officials Thursday as long-overdue relief for victims of foreclosure abuses. But consumer advocates countered that far too few people will benefit.
Service Employees International Union 775 Healthcare is headed back to court in a dispute with the state over its reduction in home-care aid for certain Medicaid clients who are disabled or elderly.
A new passenger screening program to make check-in more convenient for certain travelers is being expanded to 28 more major U.S. airports, the government said Wednesday. There will be no cost to eligible passengers, who would no longer have to remove their shoes and belts before they board flights.
Cisco, the world’s largest maker of computer networking equipment, said Wednesday that its net income jumped 44 percent in the latest quarter as it continues to put last year’s slump behind it.
A consumer watchdog group is suing the Federal Trade Commission in an attempt to prevent Google from making sweeping changes to its privacy policies next month.
McDonald’s Corp. said Wednesday that a key revenue figure climbed 6.7 percent in January as U.S. customers spent more on breakfast items, beverages and its new Chicken McBites.
Sprint dug deep into its pockets in the latest quarter to put iPhones in the hands of its customers. The perennially money-losing company Wednesday posted its largest loss in three years.
N
PARIS – European air safety regulators Wednesday ordered inspections of the entire fleet of Airbus A380 jets for tiny cracks in a wing component, extending a directive that had applied to only about a third of the 68 superjumbos in service.
LONGVIEW — Longshore union workers have handled the first grain ship to dock at the $200 million EGT terminal in Longview.
Unless $10.3 million is pulled from a special pool of public money for the next 20 years, a city-owned garage planned as the base of a private development in downtown Tacoma can’t stay in the black.
Two new hotels will be constructed along the Pacific Highway corridor in Lakewood.
The company whose name is synonymous with online commerce, Seattle’s Amazon.com, may soon open a physical store to test its prowess at on-the-ground retailing.
Greece’s private creditors signaled progress late Tuesday in a bond-swap deal but crucial debt negotiations over another round of austerity measures dragged into another day.
The first live stream of the Super Bowl drew 2.1 million unique viewers, NBC said Tuesday.
The number of available jobs in the United States jumped in December to near a three-year high, supporting other data that show a brighter outlook for hiring.
Americans accelerated their borrowing in December for the second straight month, running up more credit card debt and taking out loans to buy cars and attend school.
Student-loan debt is pushing an increasing number of young people and their parents toward bankruptcy, according to a survey released Tuesday.
WASHINGTON – Arizona, Michigan and Florida, three of the states hit hardest by the housing crisis, will join a nationwide settlement over foreclosure abuses, officials with direct knowledge say. They will join more than 40 other states in approving a deal that would benefit many Americans who lost their homes or can’t afford their mortgages.
FORT LAUDERDALE, Fla. — A new corporate headquarters in Margate, Fla., gives a fresh dimension to the notion that business is a jungle.
The company whose name is synonymous with on-line commerce, Seattle’s Amazon.com, may soon open a physical store to test its prowess at on-the-ground retailing.
Two new hotels will be constructed along the Pacific Highway corridor in Lakewood, City Manager Andrew Neiditz announced Monday night.
NEW YORK – For potential buyers, there may never be a better time to go grocery shopping in the United States.
Developers of the proposed new building north of the McMenamins Elks Temple in downtown Tacoma will ask the City Council today for a new agreement so they can start construction this summer.
No one cares about your money more than you do.
The lowest U.S. jobless rate in three years hasn’t changed the long-term picture for millions of Americans.
Walmart greeters no longer man the front doors during the 10 p.m. to 7 a.m. shift at the stores, and this month they were moved deeper into the stores to help shoppers find what they’re looking for and navigate the aisles.
Nov. 5 was designated as “Bank Transfer Day.” So what was the result?
It was a blue Christmas for Hasbro. The No. 2 toy maker said Monday that its fourth-quarter profit slipped 1 percent, pinched by softer-than-expected demand in the U.S. and Canada and slow sales of games and puzzles during the key holiday season.
Phone company Verizon Communications Inc. will challenge Netflix and start a video streaming service this year with Redbox and its DVD rental kiosks.
AMR Corp.’s American Airlines, whose bankruptcy made it a possible takeover target, may try to buy a rival after leaving Chapter 11 as the U.S. industry shrinks, Chief Executive Officer Tom Horton said.
After a year of sometimes-violent demonstrations with multiple arrests at the Port of Longview, the EGT terminal and Longshore union jointly announced Monday they're working together for the first time for a grain ship arriving Tuesday.
Now that one big-box retailer surprised Tacoma with its plans, the City Council wants to tighten the rules to make sure the next one fits in the neighborhood.
CHICAGO — With half-moon shaped booths, low stools, wooden blinds and flat-screen TVs, most patrons might expect to pay $8 for a burger, or $4 for a smoothie. But the decor isn’t a harbinger of price. This is the new look of a remodeled McDonald’s, purveyor of Happy Meals and value deals as well as upscale coffee drinks.
The saying “everyone talks about the weather but nobody does anything about it” is as applicable, and potentially misleading, in community economic development as it is in meteorology.
Super Bowl XLVI kicks off this Sunday between the New England Patriots and the New York Giants. It’s going to be quite a party. Here’s a look at some numerical context with Super Bowl XLVI By the Numbers:
About 280 crews drawn from as far away as Missouri, Colorado and California were marshaled to work on line restoration. The utility, which can immediately call on about 100 repair crews from its repair and construction contractor, Sumner’s Potelco, began calling in out-of-state crews Tuesday and accelerated the calls for assistance when the forecast turned to ice on Wednesday.
When the lights went off at William and Colette Manker’s Olympia-area house in mid-morning Thursday, Jan. 19, the Mankers and their three children hoped it would be a short interruption, an adventure in coping that would challenge their imaginations and sharpen their appreciation for the services they usually take for granted.
FEDERAL WAY — Weyerhaeuser Co.’s fourth-quarter net income sank 62 percent compared with a year ago when the lumber and real estate company’s results included a $119 million after-tax gain.
About 26,000 Tacoma Public Utilities customers in East Pierce County lost electricity Friday morning after a large transmission line failed.
Residents of certain parts of Auburn will see a change in the company that collects their waste.
Residents of certain parts of Auburn will see a change in the company that collects their waste.
The Hawks Prairie community north of Interstate 5 is getting closer to having its first medical center, a nearly $8 million project on Marvin Road that is expected to open in phases, beginning with the first phase in late May.
Anthony Hemstad, president and CEO of the World Trade Center Tacoma, reported Thursday that the center has added three members to its board of directors. They are:
Susan G. Komen for the Cure, the renowned breast-cancer charity, faced an escalating backlash Thursday over its decision to cut breast-screening grants to Planned Parenthood. Some of Komen's local affiliates are openly upset, and at least one top official has quit, reportedly in protest.
Fircrest’s roller-skating rink is back in business. The new operators, four skaters and longtime rink users, will celebrate the grand opening of Rollin’ 253 Skate and Community Center on Friday, about six weeks after the last rink closed. Rollin’ 253 has been unofficially open for a week as the new operators work out the rink kinks.
With its grand opening coming up in June, the LeMay-America’s Car Museum announced two top personnel appointments Wednesday.
In the “new normal” landscape of global investment markets and sputtering economies, big swings in the market from day-to-day have gained attention. Volatility creates headlines but the aspect of the new normal that is more important to your financial security is the expectation for relatively low investment returns.
LOS ANGELES — Microsoft Corp. says it laid off some of its marketing staff as part of an effort to restructure its operations.
Puyallup-based Valley Bank this week reported an increase in earnings to $2.15 million, or $1.90 per share, for 2011 – compared with $2.07 million, or $1.82 per share, in 2010.
OLYMPIA — Heritage Bank’s parent earned a $2.2 million profit in the final quarter of 2011 after earning a $9.1 million profit in the same period a year ago, the company announced Wednesday as part of its fourth-quarter and full-year earnings release.
American Airlines said Wednesday that it wanted a 20 percent reduction in salaries and benefits from its employees as well as a termination of their pension plans. It also said it wanted to cut about 13,000 workers, or 16 percent of its work force.
Sen. Jerry Moran and U.S. Rep. Mike Pompeo are asking the Secretary of the Air Force to study whether Boeing’s closure in Wichita will create a national security issue.
All Nippon Airways, launch customer for Boeing’s new 787 Dreamliner has had to cancel 20 percent of its first 10 flights between Tokyo and Frankfurt because of technical problems, FlightGlobal.com reports today.
The Green Building Certification Institute has awarded its highest certification – LEED Platinum – to the University of Washington Tacoma’s Russell T. Joy Building.
Big-box stores and other large retail development would face a new set of hurdles before being allowed in Tacoma, under proposed rules presented Tuesday to the City Council.
President Barack Obama looks at a Ford Shelby on Tuesday during a visit to the D.C. Auto Show at the Convention Center in Washington, D.C. Obama hailed the rebound of the U.S. auto industry, trumpeting an economic story he hopes to use to his political advantage in key Rust Belt states such as Michigan and Ohio.
State lawmakers have shelved a series of bills that would have lowered wages at the bottom of the income scale in an effort to spur private-sector hiring.
Facebook may file its paperwork for its initial public offering as early as today and is reportedly trying to raise $10 billion, which would give it a valuation of $100 billion. How do these numbers match up? Historically speaking, if Facebook has raised that much for its initial public offering:
One out of five taxpayers eligible for a key tax credit don’t claim it on their federal returns.
January’s snow, ice and wind took a heavy toll on the South Sound’s golf courses, stripping branches from thousands of trees and creating major cleanup and disposal problems.
Shoppers spent more money online this holiday season than ever before, and yet, Amazon -the world's largest Internet retailer- failed to meet Wall Street's sales expectations with its latest financial results.
Downtown Tacoma’s largest employer will open a new business prototype this week on Pacific Avenue. Kidney dialysis leader DaVita Inc. will open its first primary care clinic Wednesday.
WASHINGTON – Democratic senators announced Monday that they would introduce legislation this week codifying President Barack Obama’s principle that the super-rich should pay at least the tax rate of middle-class workers.
The excitement and possibility of local entrepreneurship infused a crowd of several hundred people at the Greater Tacoma Convention & Trade Center Monday.
Wendy’s new CEO on Monday called the dour results of the past few years “self-inflicted wounds” and vowed to do better, laying out plans that included hiring top-tier workers and reclaiming market share from higher-end competitors such as Five Guys and Smashburger.
It’s time Americans realize that the proper investment policy to follow is the same one advocated by most big financial houses and the Securities and Exchange Commission. It goes like this: Cover your rear.
Downtown Tacoma’s largest employer will open a new business prototype this week on Pacific Avenue.
A Federal Reserve survey has found that more than half of U.S. banks that lend to European banks have tightened their standards, a reflection of the persistent European debt crisis.
Lockheed Martin said Monday it received $920 million in additional orders for the most advanced Patriot missile system from Taiwan and the U.S. Army.
The AAA auto club reports the average price of a gallon of gasoline in Washington is $3.49.
Americans’ incomes rose 0.5 percent from November to December, the strongest increase since March.
NEW YORK — Google, Facebook and other big tech companies are jointly designing a system for combating email scams known as phishing.
MUMBAI, India — Starbucks aims to open 50 outlets in India by year’s end, through a 50-50 joint venture with Tata Global Beverages, the companies said Monday.
AMR Corp. employees will find out this week what the Fort Worth, Texas, company’s bankruptcy will mean for them.
BRUSSELS — All European Union countries except Britain and the Czech Republic agreed Monday to sign a new treaty designed to stop overspending in the eurozone and put an end to the bloc’s crippling debt crisis, while EU leaders also pledged to stimulate growth and employment.
Federal Way is firing a shot across the bow of Sound Transit with proposals in the Legislature that highlight the city’s displeasure with delays in linking up with light rail.
Sixteen years after it was founded in the basement beneath a restaurant in one of Tacoma’s oldest neighborhoods, Stadium Video will close next month.
As you’re sitting there in your dark house, wondering if the reading on the thermostat inside will fall as fast as the freezing rain outside, the energy issue most on your mind at the moment is not the future of America’s portfolio of generating, transportation fuel and heating resources.
When President Barack Obama joined Silicon Valley’s top luminaries for dinner in California last February, each guest was asked to come with a question for the president.
LIBERTYVILLE, Ill. — Motorola Mobility sank to a fourth-quarter loss while trying to close its proposed $12.5 billion sale to Google. The setback, announced Thursday, came amid fierce competition in the markets for smartphones and tablets.
A decade ago, when the City of Tacoma agreed to give away 42 percent of the Tacoma Dome’s parking space to the LeMay car museum, it promised the lost parking would be replaced.
Gas prices are slowing moving upward in Tacoma with an increase of almost two cents a gallon in the last week.
Given a strong net profit for the fourth quarter and for all of 2011, the board at Tacoma-based Columbia Bank has announced a quarterly cash dividend of 8 cents per share plus a special cash dividend of 29 cents per share to stock holders of record as of Feb. 8.
Fuller planes, better scheduling and route expansion helped Sea-Tac-based Alaska Air Group report record earnings Thursday for the second consecutive year.
Washington’s unemployment rate fell to 8.5 percent in December from 8.7 percent in November even as the state shed more than 10,000 jobs in the period, according to the state Employment Security Department earlier this week.
Enter the show and you’ll be hit by the earth-sweet scent of fresh bark and the sound of a burbling fountain. Goldfish mingle beneath a small waterfall in a pool a few steps away as a plastic alligator swims a lazy circle on the surface.
The second annual celebration of shopping locally happens Monday.
The Boeing Co. on Wednesday delivered a big surprise to Wall Street this morning: earnings more than 80 percent above analysts’ average predictions.
Perhaps the timing could be better. Western Washington is still shrugging off the lingering effects of snow, ice and wind storms that left hundreds of thousands without power. Meanwhile, the region’s largest supplier of electricity, Puget Sound Energy, is asking state regulators for a rate increase.
Sea-Tac Airport and its largest airline, Alaska Airlines, have again won top on-time honors.
The Pierce County economy took a step back in December as its unemployment rate rose to 9.1 percent after several months in which the jobless rate had fallen, according to state Employment Security Department data released Tuesday.
Yahoo: The Internet company’s latest financial results show it is still losing ground in the battle for online advertising.
Concerned that regulators are dismissing electronic problems in Toyota vehicles, an auto safety firm said Tuesday that it has sued the federal government to get records of its investigation into the unintended acceleration of a Prius last year.
NEW YORK — After uncharacteristically tepid sales in the July-to-September quarter, Apple came back with a vengeance in the last three months of 2011, vastly exceeding analyst estimates and setting new records.
The chairman and CEO of General Motors is defending the company over battery fires in Chevrolet Volt electric cars last year.
Facebook will start requiring people to switch to a new profile format known as Timeline, making photos, links and personal musings from the past much easier to find.
Bank of America will start offering “BankAmeriDeals” to its employees in Nevada, North and South Carolina this week. By mid-February, all of the bank’s U.S.-based employees will be able to access the deals.
WASHINGTON – The International Monetary Fund predicted Europe would fall into a mild recession this year, helping drag down global economic growth to a sluggish 3.3 percent, significantly lower than projected just four months ago.
Here’s the good news for home sales in the Puget Sound area last year: The number of sales completed last year rose by more than 7 percent.
HIRES/PROMOTIONS
Survon Narcisse wishes to simplify that which is simple, to abbreviate that which has already been abbreviated. If u cn rd ths, thn u wll ndrstnd.
Tacoma-based BLRB Architects is the firm recommended by a committee of Tacoma school officials and teachers to design a remodel for the historic Washington Elementary School building.
State lawmakers say talks continue on a more than $1 billion public-works package that could potentially put 25,000 people to work, many starting in the summer construction season just months away.
We are a state of gamblers whether our game is the lottery, pull-tabs, the horses or something within the neon of a casino. And the state wants to know who gambles, how people feel about gambling and what people know.
You’ll have more company on some full Southwest Airlines flight beginning this summer.
Proponents of a state bank or investment trust might not phrase it quite this way, but one of the arguments driving their proposals for a government-owned-and-operated financial institution appears to be, “Why not? We can’t do any worse than the commercial banks.”
Knowing the rules of the game will help you decide how best to support your candidate.
Homeowners in a large swath of Bonney Lake and Sumner suffering from a power blackout Friday, found out the hard way that a backup generator is only as good as its fuel supply.
Sea-Tac Airport’s three runways and all its taxiways and terminals were once again open for business Friday, but the effects of two days of ice and snow lingered in the terminal and in airline schedules.
Washington’s unemployment rate fell to 8.5 percent in December from 8.7 percent in November even as the state shed more than 10,000 jobs in the period, according to the state Employment Security Department.
Good for some, not so good for others.
LOS ANGELES — Microsoft Corp. battled through a weak PC market to post flat earnings in the final quarter of 2011, boosting sales of servers, Xbox games and its Office productivity software while trimming losses at its Bing search engine.
The Port of Tacoma, seeking to match its ambitions with new economic realities, is in the midst of drafting a new plan to guide it for the next five years.
How much in savings and investments should you have by age 35 or 45? Or, for that matter, at 65 when you’re likely to be near retirement?
Sea-Tac’s newest foreign carrier, Dubai’s Emirates Airline, said Thursday that it expects Indian expatriates could provide a substantial share of the passengers on a new flight from here to Dubai.
ROCHESTER, N.Y. — The ripple effect from Eastman Kodak Co.’s bankruptcy reorganization extends in many directions: Employees brace again for layoffs, retirees fret over health care coverage, and the photography icon’s biggest creditors and stakeholders – from movie studios and big-box retailers to CEO Antonio Perez – are preparing for a sharp sting in their pocketbooks.
SAN FRANCISCO — Google’s moneymaking machine misfired badly in the fourth quarter as its advertising prices fell during the holiday marketing season.
LOS ANGELES — Apple on Thursday promised to reinvent the textbook and offer a new experience for students and teachers by way of an update to its iBooks app for the iPad, iPhone and iPod Touch.
WASHINGTON — If a day without Wikipedia was a bother, think bigger. In this plugged-in world, we would barely be able to cope if the entire Internet went down in a city, state or country for a day or a week.
Tacoma longshoreman Dick Marzano will succeed Commissioner Connie Bacon as president of the Port of Tacoma Commission for 2012.
A new list of the 10 most popular American companies in China is dominated by Pacific Northwest companies. Four of the ten companies on the list compiled by 24/7 Wall Street are based in Washington or Oregon.
The International Monetary Fund said Wednesday that it’s aiming to increase its financial firepower by around $500 billion so it can give out new loans to help ease a worsening financial crisis.
U.S. homebuilders are growing a little less pessimistic about the depressed housing market after seeing more people say they might be open to buying a home this year.
The World Bank warned Wednesday of a possible slump in global economic growth and urged developing countries to prepare for shocks that could be more severe than the 2008 crisis.
U.S. factories are roaring back from the depths of the recession, cranking out more machinery, vehicles and energy.
Goldman Sachs’ net income fell 58 percent in the last three months of last year because of lower investment banking fees in a quarter marked by choppy financial markets.
ATHENS — The Greek government resumed talks with its private creditors in Athens on Wednesday in the hope of sealing a debt relief deal needed to avoid a disastrous default this spring.
BEIJING — The lamb chops were cooked to perfection. Fine wines flowed. Then came the piece de resistance — a 1997 Chateau Petrus Pomerol that can fetch about $2,000 a bottle.
NEW YORK — A major investigation of insider trading on Wall Street extended beyond the exclusive world of New York hedge funds when federal agents arrested four people Wednesday.
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