The News Tribune Business Team will keep you updated on what's happening in the South Sound and beyond. Check here for news about economic development, aerospace, shopping and much more.
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Contributors
Marce Edwards is the business editor. She has been at The News Tribune for seven years and has written about technology and big businesses in the South Sound including Weyerhaeuser and Russell. Before moving to Tacoma, she worked at The Idaho Statesman in Boise. She is a Northwest native who likes to garden and refuses to use an umbrella. She lives in Tacoma with her husband and two kids.
C.R. Roberts is a Tacoma native. Before joining The News Tribune, he worked as a freelance writer and part-time cowhand on a cattle ranch in Northern Idaho. He writes about small business, personal finance and other business issues.
John Gillie writes about the aerospace and airline industries, commercial development and consumer issues. During his 30-year-tenure at The News Tribune he has covered issues as diverse as the Native American fishing rights disputes, crime and the courts, the wood products industry and energy. He lived in Tacoma with his family for 25 years, but now lives in Kent because his wife heads a five-state non-profit foundation headquartered in Ballard, and it only seemed a sensible compromise to make considering their workplaces are 40 miles apart.
Kelly Kearsley has been a business reporter at The News Tribune since 2005. She covers the Port of Tacoma and international trade. Being born and raised in Spokane she’s used to living in cities with inferiority complexes and, in fact, prefers it. Prior to working at The News Tribune, she spent three years as a reporter for The Bulletin in Bend, Oregon and another year working stints for The Associated Press and Seattle Times. She graduated from Pacific Lutheran University. She lives in Tacoma with her husband and miniature schnauzer.
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Amazon.com today announced it is seeking enthusiastic, energetic young Muggles under the age of 18 to be filmed sharing their excitement for the epic series and championing their favorite Harry Potter character.
Between five and 15 entrants will be selected as “Amazon Kid Correspondents,” and will serve as Amazon.com’s Harry Potter aficionados in media interviews and on the Amazon.com Web site leading up to the much-anticipated July 21 release of “Harry Potter and Deathly Hallows.”
Selected video submissions will be shown on the Amazon.com Web site for customers to enjoy. The deadline for submissions is 11:59 p.m. June 1; or when 1,000 eligible entries have been received, whichever comes first.
For information on the Harry Potter Kid Correspondent Quest and for Quest rules, visit www.amazon.com/kidcorrespondent.
Alaska Air Group stock hit a more than 2-year closing low today at $27.52 on news that the SeaTac-based airline holding company expects the second quarter to be less profitable than the same quarter last year.
The stock closed at $27.52 a share, the lowest closing price since May 6, 2005, when the stock closed at $27.13 a share.
The stock has dropped steeply since Alaska announced in April that its first quarter results were less than analysts had predicted. As recently as March 21, Alaska stock closed at more than $40.00 a share.
The lastest dip was propelled by an Alaska Securities and Exchange Commission filing in which the airline group said that while its costs per mile, per seat are expected to drop to 7.5 cents in the second quarter, the amount it receives from fares and other sources per mile is expected to drop 2.8 percent and its percentage of seats filled will decline by 1.8 percentage points.
Meanwhile the airline said it had found buyers for 20 of its Boeing MD80s, which it is retiring in favor of new Boeing 737-800s. The airline will lease back 16 of those planes until their replacement planes arrive.
In another more pleasant bit of aerospace industry financial news, The Boeing Co. closed at a new all-time high, $97.42 a share. Boeing executives told analysts Wednesday that the company expects rising earnings over the next two years generated by a record order backlog.
Air France and AirTran waded in with more Boeing orders today.
Air France ordered 18 more 777 widebodies to replace its remaining fleet of Boeing 747s. The 777 order was part of $7 billion order from Boeing and Airbus.
From Airbus, Air France ordered 30 more A320 family single-aisle aircraft. The French carrier also exercised options for two more A380 super jumbos. The additional two were part of the compensation Airbus provided Air France for its late delivery of the first 10 A380s Air France has already put on order.
Meanwhile, Orlando's AirTran Airways placed orders for 15 Boeing 737-700 aircraft. Those planes are due for delivery in 2010 and 2011. The airline currently has a fleet of 132 planes, 45 Boeing 737-700s, and 87 Boeing 717-200 aircraft. The company is attempting to take over Midwest Airlines, which has a fleet of 717s.
