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Here’s the latest edition in a billboard advertising campaign that goes back to 1987 – when downtown’s LeRoy Jewelers began taking a whimsical look at goings-on in Tacoma.
As Americans are forced to rediscover the concept of “saving,” some are fearful that we have lost a generation of investors in the financial firestorm of the past two years. Former British Prime Minister Benjamin Disraeli’s admonishing words ring especially true in these tough times. He said: “Beware of endeavoring to become a great man in a hurry. One such attempt in 10 thousand may succeed. These are fearful odds.”
State money that had been earmarked for improvements to help keep Russell Investments in downtown Tacoma still will be spent in the city, even though Russell is moving its headquarters to Seattle, Gov. Chris Gregoire said Wednesday.
Plans to renovate the landmark Elks Temple downtown and develop the lot adjacent to it are on track despite downtown’s loss of Russell Investments.
Regionalism died last week.
Russell Investments’ departure next year opens more than 200,000 square feet of prime office space in the downtown market.
Go ahead with your designated period of mourning, all you Tacoma economic gurus. Sackcloth and ashes make us look fat. So beg pardon while Le Schnoz skips ahead to our designated day of Russell-related gallows humor.
Russell Investments’ parent company paid $115 million for the 42-story downtown Seattle tower known until recently as the WaMu Center, according to a document filed Thursday with King County.
In opting for a future in Seattle, the Russell Investment Group made a sober business decision based on its perceived interests. We get that.
“Obviously I’m very disappointed with the decision and in the short term it’s not good for Tacoma, but it does create opportunities. … Over the last several years, a number of companies looked in Tacoma and we haven’t had the space.”
It’s the region’s gain, not Tacoma’s loss.
For months, keeping Russell Investments’ headquarters in Tacoma was Job One for downtown decision-makers. After the announcement Wednesday that Russell would move to Seattle, the game of hard-to-get got a lot less interesting.
The experience of losing a downtown, hometown anchor is nowhere near unique for those who do business in Tacoma.
Russell and Tacoma.
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© Copyright 2009 Tacoma News, Inc. A subsidiary of The McClatchy Company
1950 South State Street, Tacoma, Washington 98405 253-597-8742
© Copyright 2009 Tacoma News, Inc. A subsidiary of The McClatchy Company