The Biz Buzz

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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Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.
Wednesday, March 5th, 2008
Posted by C.R. Roberts @ 03:31:49 pm

Tacoma drivers, take a bow. (Don’t do it if you’re driving; wait until you stop, and then bow.) Today you set a record – if you bought gas.

The price of a gallon of regular-grade gasoline hit an all-time Tacoma high today at $3.469.

That’s up two cents from yesterday and up nearly 43 cents from a month ago.

Seattle and Vancouver also hit records today at $3.48 and $3.441 respectively. Bellingham retained the laurels of having the state’s most highly priced gas, at $3.524, while Spokane marked Washington’s lowest at $3.312.

State residents were not far away from the nation’s leader, Hawaii, where drivers today are paying $3.569, according to AAA. To get the country‘s cheapest gas – you’re looking at Missouri, where a gallon goes for $2.976.

But then, you’d have to drive to Missouri to buy some.

Categories: General
Posted by C.R. Roberts @ 03:09:38 pm

The Milgard School of Business at the University of Washington Tacoma has selected three South Sound men to be awarded the school’s annual Business Leadership Awards. The three, who exemplify outstanding business achievement, will be honored at a gathering on April 30, 2008.
They are:

• Michael A. Tucci, who has been named Business Leader of the Year. Tucci is chairman of the board for Tucci & Sons, the company started by his father in 1950 that is now a third-generation family enterprise.

• Ben Pentecost, Small Business Leader of the Year. Pentecost is co-owner of Rickabaugh Pentecost Development, LLC, and has helped build one of the largest utility contractors in the region.

• George Cargill, Non-Profit Business Leader of the Year. As Chairman of the Board of the United Service Organization of the Puget Sound Area, Cargill continues the tradition of assisting and honoring thousands of military and service members in the area.

Categories: General
Posted by C.R. Roberts @ 03:03:37 pm

Alas, poor Bill Gates. No longer does he wear the crown given to the planet’s richest man.

Forbes Magazine’s list of the the world’s billionaires – released this afternoon – proclaims that investor (and Gates bridge-buddy) Warren Buffett has risen past the Microsoft co-founder to take top spot in the annual snapshot of worldwide wealth.

With the surging price of Berkshire Hathaway stock, Buffett’s wealth rose to an estimated $62 billion, as of Feb. 11, up $10 billion from last year. Gates is up $2 billion from a year ago, and is now worth $58 billion – but be slips two spots to rank third on the list.

Mexican telecom tycoon Carlos Slim Helu is up $11 billion from last year, and is now the world’s second richest person, with an estimated net worth of $60 billion.

The number of billionaires rose this year to 1,125, up 179 from last year. Their total net worth is $4.4 trillion, and two-thirds are self-made. They come from 54 countries and one principality, and the list includes the first black Africans: Nigeria’s first billionaire, Aliko Dangote (#334); and South African Patrice Motsepe (#503). Russia has replaced Germany as the No. 2 country, with 87 billionaires. Seventy percent of this year’s newcomers are from Russia, India, China, and the U.S.

Fifty billionaires under the age of 40, and the youngest is 23-year-old Facebook founder Mark Zuckerberg (#785), who debuts with $1.5 billion.

For the full list, visit www.forbes.com/billionaires.

Categories: General
Posted by Marce Edwards @ 01:40:44 pm

Amazon.com Inc., the world’s largest Internet retailer, is seeking a wine buyer and may start offering the beverage as part of a new line of groceries, Bloomberg News reports.

Amazon.com started advertising on its Web site Feb. 27 for a senior wine buyer in its specialty foods group.

The Seattle- based buyer would be responsible for the “acquisition of massive new product selection,” building it “from the ground up.” It posted an ad for a delivery driver Feb. 1.

“Dry goods, produce, dairy, and beverages including wine and beer are part of this exciting extension of our business model,” the company said in the ad for the driver. Amazon.com spokeswoman Patricia Smith declined further comment today.

Categories: Shopping
Posted by Kelly Kearsley @ 01:24:22 pm

The median price and number of pending sales of Pierce County homes and condominiums declined in February compared to the same month last year, the Northwest Multiple Listing Service reported today.

The county counted 913 pending sales – sales that have yet to close – down 25 percent from February 2007. The median home price dipped 7.8 percent to $260,000. And inventory has spiked by 29 percent since last year.

Western Washington did see an increase in pending sales from January to February, including in Pierce County where pending sales jumped by 38 percent over the month.

Posted by Marce Edwards @ 08:53:03 am

Boeing Co. expects to receive a debriefing from the U.S. Air Force Friday concerning the company’s defeat in bidding for a $35 billion tanker program, said Integrated Defense Systems Chief Executive Officer Jim Albaugh.

“We will only protest in the event we think there is an irregularity in the proposal phase,” he said at a Citigroup conference today.

“Any company that protests and makes protest a part of their capture strategy is doing a real disservice to the country and the military.

Categories: Aerospace
Posted by C.R. Roberts @ 07:31:00 am

I caught up yesterday afternoon with Aaron Artman, the general manager of the Tacoma Rainiers. He brought along one of the new caps that go on sale on the 15th.

The new logo is actually an "alternative cap logo" the team will be wearing, along with a new jersey, for selected games.

The primary logo, which shows Mount Rainier, will be retained, as will the primary teal color scheme. Notice how the new look echoes the compass that's prominent with the parent Mariners.

Categories: General