On the heels of Washington Mutual – whose shares rose 29.3 percent today – shares in other Western thrifts and savings and loan institutions also rose. This was not necessarily the case for commercial banks.

Of 28 Western thrifts tracked by Bloomberg, overall share prices rose 1.83 percent. The shares are down 31.58 percent over the last year.

The optimistic coattails did not extend to 207 commercial banks in the West, whose shares fell 0.09 percent on the day, and are down 30.61 percent for the past 12 months.

The American Institute of Certified Public Accountants offered the results today of a study showing that 41 percent of American adults are holding off on major life decisions either because they are financially strapped or worried about the country's economy.

The decisions include home ownership, higher education, marriage, children, medical procedures and retirement – and the reults represent an 11 percent increase from a year ago, when 30 percent of U.S. adults said they were delaying decisions for the same reasons.

Of the 41 percent of the 2008 survey respondents who said they are postponing life goals, 28 percent cited a lack of savings as the principal reason, while 18 percent pointed to concerns about the state of the economy.

General anxiety over the economy is high, with 54 percent of the entire survey sample expressing a pessimistic outlook over the next year.

Carl George, chair of the AICPA’s National CPA Financial Literacy Commission, said, “It’s alarming that so many more people are choosing not to get married, buy a home or further their education because they don’t have the money. We know people are having a hard time making ends meet, which can affect life goals. It’s important that they try to save, even if it’s only a small amount each week.”

I’ve checked two sites offered by the Institute, and both look interesting. They look to offer help for people interested in financial education – savings and such.

The first, www.360financialliteracy.org, gives an overview of financial issues at all ages, and the second, www.feedthepig.org, is aimed at preparing 25-to-34 year-olds for long-term financial security.

Just a reminder – for those of you who need reminding about what happens next Tuesday, April 15.

If you need assistance with your tax preparation, the Tacoma Internal Revenue Service office will be open weekdays, 8:30 a.m. to 5:30 p.m., and on Saturday, April 12, from 9 a.m. until 1 p.m.

The office is located at 1201 Pacific Ave.

The trial of a former Boeing Co. inspector accused of leaking sensitive company information ended Monday in a hung jury, according to The Associated Press.

After almost a week of deliberations, jurors remained split 10-2 in favor of convicting Gerald Eastman on several counts of computer trespass, said Dan Donohoe, spokesman for the King County prosecutor's office.

Prosecutors will decide in the next two weeks whether to retry him, Donohoe told the AP.

Eastman, 46, was accused of downloading Boeing computer documents and sharing them with The Seattle Times for stories about air safety.

=> Read more!

By JESSICA MINTZ
The Associated Press

SEATTLE — Washington Mutual Inc., the country’s largest savings and loan, is close to landing a $5 billion cash infusion from private equity group TPG and other investors, a person familiar with the matter said Monday.

Wall Street cheered news that WaMu may join a growing list of battered financial institutions that have secured much-needed cash since the credit crisis began last summer. Shares jumped 32 percent, or $3.26, to $13.43 in midday trading.

The investment would give TPG, formerly Texas Pacific Group, a mix of common and preferred stock, totaling less than 25 percent of WaMu’s outstanding shares, according to the person, who asked not to be named because the deal has not been announced. TPG would also get a seat on WaMu’s board.

Other investors include existing WaMu institutional shareholders and other private equity groups, the person said.

The Wall Street Journal reported the deal in Monday editions.

Shares of the Seattle-based thrift have come under heavy fire as problems in the housing and credit markets have deepened.

WaMu’s stock shed nearly 70 percent in 2007, and the sinking value of WaMu’s mortgage portfolio and soaring loan-loss provisions — the amount it socks away to cover bad loans — led to a $1.87 billion fourth-quarter loss.

If the deal goes through, WaMu will be one of the first retail banks to accept billions in outside funding, with hopes of distancing itself from the subprime crisis.

So far, it has been mostly investment banks holding huge positions in bad mortgages that are roaming hat in hand.

Merrill Lynch & Co. announced in January it would take $6.6 billion from three foreign investment funds. Morgan Stanley sold a portion of itself to China Investment Corp., an investment arm of the Chinese government, for $5 billion in December. And in November, Citigroup Inc. took $7.5 billion from the Abu Dhabi Investment Authority in exchange for up to 4.9 percent of its equity.

Banks are also issuing new shares to boost capital. Last week, Lehman Brothers Holdings Inc. raised $4 billion in a stock offering and Swiss bank UBS AG announced plans to seek $15.1 billion.

Executives have said fallout from the mortgage crisis would continue to slam the company’s finances through 2008, and said up to $8 billion more will be needed this year to cover future loan losses.

As of Friday, WaMu’s stock had fallen another 25 percent in 2008. Cuts to its credit ratings erased a brief moment of investor optimism sparked by a positive comments from Chief Executive Kerry Killinger at a Wall Street conference in January.

At the time, Killinger said WaMu had enough cash and access to loans to get through the fiscal year.
Late last year, the thrift dismantled its subprime mortgage operation, closed more than half of its home loan centers and sales offices, shut down call centers and eliminated more than 3,000 jobs. It also shuttered WaMu Capital Corp. and stopped selling mortgage-backed securities.

The company slashed its dividend and raised $2.9 billion in a December stock offering. At the time, analysts said they did not believe that was enough to carry the thrift through the fiscal year.

Killinger’s $14.4 million in compensation last year, despite the huge losses and dividend cuts, has angered some shareholders.

=> Read more!

Alas there will be no giant donut (as speculated by a slightly hopeful reporter) this week folks.

The Associated Press has revealed Starbucks' big surprise scheduled for tomorrow. It's free coffee.

Here's the scoop:

Starbucks Corp. is hosting a nationwide coffee-tasting to celebrate the launch of its new “everyday” brew.

Customers who line up at most of the coffee retailer’s U.S. stores Tuesday morning will get a free 8 oz. cup of Pike Place Roast from 9 to 9:30 a.m. Pacific Time (12 to 12:30 p.m. Eastern).

Chairman and Chief Executive Howard Schultz says Pike Place Roast has a bold flavor, smooth finish and “subtle, rich flavors of cocoa and toasted nuts.”

It will be freshly roasted, hand-scooped, freshly ground and brewed in small batches that sit for no longer than 30 minutes.

Starbucks will sell it — both regular and decaf — alongside rotating coffees of the week.