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.
Monday, April 14th, 2008
Posted by Kelly Kearsley @ 02:45:24 pm

The Port of Tacoma and City of Tacoma are starting an 18-month trade project aimed at capitalizing on its long-standing sister city relationship with Fuzhou, China.

The pilot project aims to attract foreign direct investment from Fuzhou to the Tacoma area and develop export markets in Fuzhou for Pierce County companies.

To that end the port and city have hired trade representatives for offices in Tacoma and in Fuzhou.

"China is now Tacoma's largest trading partner by both volume and by dollar value, and Fuzhou is a key gateway to this market," said Connie Bacon, a Port of Tacoma commissioner.

Fuzhou is the capital of China's Fujian Province, which is on the country's southeastern coast, across from Taiwan.

Former Tacoma City Councilman Bill Evans pitched the project in conjunction with representatives from Fuzhou.

Bacon advocated for the port's involvement.

The city and port each contributed $100,000 for the initial pilot. The concept is to exchange trade representatives between the two cities.

The Port and City money helps fund a trade representative in Fuzhou and a project coordinator in Tacoma.

The Fuzhou Municipal People's Government is also sending a representative here to work out of the port's offices.

The port commission approved money for the project last fall. At that time, some questioned whether such a pilot project is needed.

The state's Community, Trade and Economic Development department already has offices in Beijing, Shanghai and Guangzhou. The Port of Tacoma too has offices in Shanghai and Hong Kong.

A task force including representatives from the city, port and World Trade Center Tacoma commissioned a feasibility study on the Fuzhou-Tacoma project last year.

That study found that while sister-city relationships alone don't promote business, they could open doors.

It also noted that such a program would need broad, consistent community support and a way to measure the office's success.

In interviews with other trade offices in China, the authors of the report noted that long-term commitment to the trade office is needed for its success.

Categories: Port and trade
Posted by Devona Wells @ 01:36:17 pm

Several weeks of two-hour workshops explaining changes in sales tax laws start Wednesday at the Federal Way La Quinta Inn & Suites.

This is a change impacting businesses that sell and then ship merchandise. Now companies collect sales tax based on the rate from where a product is shipped, according to a release from the Department of Revenue. Starting July 1, sales tax must be collected based on the rate where the items are being sent.

The changes, according to the release, impact only in-state sales.

Go to http://destinationtax.dor.wa.gov and click on "Attend a workhop" to find out where and when the subsequent workshops are taking place. There are two in Federal Way on Wednesday, though the morning one is already full. There are additional sessions through April, May and June in Tacoma, Olympia, Tukwila, SeaTac and Silverdale.

Categories: General
Posted by John Gillie @ 01:07:43 pm

Gas prices hit a new record here this week, a another in a string of new new highs for fuel.

According to AAA Washington, regular unleaded fuel in Tacoma averaged $3.534 a gallon in Tacoma today, up from $3.527 a month ago and from $3.093 a year ago.

Diesel was even more dear with average prices in the Tacoma area at $4.309 a gallon compared with $2.998 a year ago.

Categories: Aerospace
Posted by John Gillie @ 07:36:09 am

The Air Force's newest fighter, the F-22, will have to undergo more frequent inspections because of defects in aluminum forgings that Alcoa Inc. supplied, The Boeing Co. alleges in a lawsuit.

Boeing, which is a partner with Lockheed Martin in producing the stealthy fighter, alleges that Alcoa supplied it with the defective parts which it incorporated into the structure of the F-22.

Boeing produces the aft structure of the F-22 and its wings at a plant at Boeing Field in Seattle.

The more frequent inspections will be necessary to determine if the defective forgings are failing.

Categories: Aerospace
Posted by John Gillie @ 07:19:27 am

The Boeing Co. added 30 more jetliners, all of them 737s, to its order book last week.

Those orders bring Boeing's total for the year to 318. The 30 737 orders were entered by airlines that Boeing has not yet identified.

The 737, as normal, remains the most popular of the Boeing line of aircraft with 216 net orders for the year.

The 787 is second with 75 orders. The 777 has won 26 orders, while the 747 has won just one and the 767 none in 2008.

Categories: Aerospace
Posted by John Gillie @ 06:30:40 am

Saltchuk Resources, Inc., a Seattle-based private investment firm with major ties to the Tacoma area, could be the savior for bankrupt Aloha Airlines' cargo business.

Saltchuk, whose Tacoma connections include ownership of the Russell Building, of Totem Ocean Trailer Express and of Foss Maritime Co., has bid $13 million for Aloha's air cargo business.

Aloha quit flying passengers two weeks ago when it couldn't find financing to continue operating under bankruptcy reorganization.

Saltchuk has both air cargo experience through its Northern Air Cargo subsidiary in Alaska and strong connections to the Hawaiian business community.

It owns Young Brothers and Hawaiian Tug & Barge, two firms with a long history in the Hawaiian maritime business.The company also owns Hawaii Petroleum Inc., Maui Petroleum Inc. and Minit Stop convenience stores in the 50th state.

A bankruptcy court is expected to announce the winner of the auction to purchase Aloha Air Cargo on April 24. Two other potential bidders have expressed interest in the cargo operations.

Categories: Aerospace