Between April 11 and today, the state general fund collected $94.3 million – or 8.3 percent – more than was forecast. This brings the cumulative increase for the past two months, since the March forecast, to $141.1 million, or up 7 percent.

Once again Revenue Act collections (sales, use, business and occupation and public utility taxes) and real estate excise tax payments accounted for most of the positive variance for the month, said Chang Mook Sohn, director of the Washington Economic and Revenue Forecast Council.

In a regular letter to the council issued this afternoon, Sohn explained that the variance “reflects stronger than expected economic activity and consumer and business spending.”

However, he wrote, a large real estate excise tax variance – $58.7 million – was due to three unusually large and unexpected payments, not an improving housing sector. Excluding these transactions, receipts would still be substantially higher than expected for the month, at $37.3 million, or 3.3 percent, as well as cumulatively, up by $68.1 million or 3.1 percent) for the two months.

Is your iPod lacking? Have no fear.

Amazon.com today launched its Amazon Podcasts network, an original podcast series offering customers four unique channels of free content: Amazon BookClips, Music You Should Hear, Significant Seven and Amazon Wire, all available at www.amazon.com/podcast.

The company expects to offer additional channels in the next few months. Each podcast is available via streaming and download from Amazon.com, and through RSS and iTunes. Amazon Wire is also available on TiVo.

Chilly and wet weather, higher gasoline prices, and an earlier Easter holiday in April caused many retailers to report disappointing sales for April, BusinessWeek.com reported this morning.

But one of the winners was Costco Wholesale (COST), which said same-store sales (at stores open for at least one year) rose 7%, beating the 6.3% estimate from analysts. The big-box retailer said total sales for April rose 12% from a year ago to $4.94 billion.

Joseph Agnese, an analyst at Standard & Poor's Equity Research, said in a research note that he continues to expect Costco to benefit from an acceleration in square footage growth, leading to increased sales leverage. Agnese reiterated his buy recommendation on Costco shares and kept his fiscal year 2007 (ending August) earnings per share estimate of $2.57. However, he lifted S&P's 12-month target price on the stock by $1 to $61, based on updated forward p-e and relative valuation analyses.

Costco shares were trading slightly lower, to $54.81, on the Nasdaq May 10. They are not far from a 52-week high of $58.70 hit on Feb. 7, 2007.

Analysts had expected sales for retailers to be weak last month, but some were more disappointing than others. Many merchants blamed the weather and the shift of more sales in March because of the earlier Easter holiday.

The International Council of Shopping Centers (ICSC) survey of 51 retailers said chain-store sales dropped a record 2.3% in April from a year ago. The decline marks the largest since the trade group started keeping records in the 1970s. The results came in much weaker than already-depressed forecasts, as the sharp reversal in the weather from the balmy March to poor weather in April, the pull-ahead of Easter sales into March, and higher gas prices all conspired against sales in the month.

Paul Turek, regional labor economist for Washington's Employment Security Division, sent us his most recent post on gas prices after seeing our story in today's paper.

Here's what he said:

The notion that this might be some type of organized conspiracy can be put to rest through the courtesy of an economic explanation. There are three major forces behind the recent rise in gasoline prices:

1. The rebound in crude oil prices

2. Strong demand for gasoline in the U.S. coupled with weaker imports of gasoline

3. Weaker refinery capacity and activity

Get the details.

=> Read more!

The Franciscan Health System of Tacoma has received the 2007 Washington State Quality Award for performance excellence.

Gov. Christine Gregoire presented the honor on Wednesday during a ceremony at the Greater Tacoma Convention and Trade Center. Other recipients were the University of Washington Medical Center in Seattle, Qualis Health of Seattle and the Richland School District.

“This award acknowledges the dedication and commitment to excellence that are shown every day by the nearly 6,000 employees at the Franciscan Health System,” said Franciscan Chief Financial Officer Mike Fitzgerald.

Using criteria established by the Malcolm Baldrige National Quality Award program, the Washington State Quality Award (WSQA) program honors organizations with proven and sustainable accomplishments in business performance and overall excellence.

“The process has been a very interesting and rewarding experience for us, from completing our application to hosting site visits by the professional and inquisitive analysts,” said Laure Nichols, senior vice president for Strategic Planning and Business Development for Franciscan.

WSQA is a non-profit organization, authorized by the Washington State Legislature, to promote the success of Washington public and private sector organizations.

The Franciscan Health System includes St. Joseph Medical Center of Tacoma, St. Clare Hospital in Lakewood, St. Francis Hospital in Federal Way, Franciscan Hospice House in University Place, and a network of primary-care and specialty-care clinics and physicians. Franciscan will open St. Anthony Hospital in Gig Harbor in early 2009. Also, Enumclaw Regional Hospital is in the process of affiliating with the Franciscan organization.

The hotel occupancy rate in Tacoma rose 10.7 percent in March, an increase second only to Spokane, which saw an increase of 12.2 percent. Statewide, the rate rose 5.9 percent.

Fully 77.9 percent of rooms were occupied in Tacoma in March, reported Bellevue hospitality consultant Wolfgang Rood this week. Statewide, 72.1 percent of rooms were taken.

Occupancy rates and average room prices were up in all regions of the state, Rood said.

The average daily room rate in Tacoma, $75.34, increased 4.7 percent over the past 12 months. The statewide rate, $116.42, was up 6.5 percent.

Downtown Seattle hotels charged the highest average rate, at $155.29, and the Tri-Cities asked the state's lowest, at $74.71.

Statewide occupancy rates in March fell in both Oregon (0.8 percent) and Idaho (3.5 percent), Rood said.