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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Richard Lackey has been elected to the board of directors of Lakewood’s Northwest Commercial Bank, said CEO & President Kurt Graff in a release this week. Lackey previously served on the board of Cascade Community Bank.
At 57, Lackey, is a partner in the certified public accounting firm Shannon & Associates of Kent.
Lackey graduated from Michigan State University and serves as both a CPA and a certified financial planner.
The addition comes as Northwest Commercial plans a September launch of a branch in Auburn. The new store will be the bank’s first full-service branch since opening six years ago.
Lackey has served on the City of Kent budget committee and the Kent Public Market Development Authority board. He was a member of the Rotary Club of Kent and served on the club’s board of directors. Additionally, he was a founding board member of the Kent Chamber of Commerce Foundation.
He and his wife, Raquel, have two grown children and one grandchild. They make their home on Mercer Island.
Northwest Commercial Bank, formed in 2002 by a group of Lakewood area investors, reported total assets of over $70 million at the end of July.
American Airlines, working quickly to replace its fleet of fuel-guzzling MD-80s, has ordered six more 737-800 jets from Boeing.
The new order brings American's orders for the Renton-built twin jet to 36 next year and 40 in 2010.
American is retiring its McDonnell Douglas MD-80s to save fuel. The 737-800 uses 20 percent less fuel per passenger than the MD-80.
American says it is talking with Boeing about additional orders for the popular 737 to replace MD-80s retired to the desert. At the start of the current fuel price escalation, American operated more than 300 MD-80s.
Alaska Air Group's financial viability is ranked first among U.S. legacy airlines in a new study by aerospace publication Aviation Week.
The SeaTac-based airline holding company, parent of Alaska Airlines and Horizon Air, is ranked 15th among 32 legacy carriers worldwide in Aviation Week's financial evaluation.
That ranking puts it ahead of every other U.S. legacy carrier and above low-cost and regional U.S. carriers ranked by somewhat different standards.
The aviation publication's council of advisors gave Alaska a total score of 55.9. That's an aggregate of scores it earned on their evaluation's of the airline holding company's liquidity, fuel cost management, financial health, earnings performance and asset utilitization.
After falling to a low of $10.10 a share five weeks ago, Alaska shares closed Tuesday at $22.56 a share. The stock was down in early trading today. Airline stocks have been buoyed in recent weeks by falling oil prices.
Tops on the Aviation Week list was Singapore Airlines with a total score of 93.3. Second was Malaysian Airlines System and third was Spain's Iberia Airlines.
Among U.S. legacy carriers, Alaska was followed by Continental, American, Northwest, US Airways, United, Delta and Hawaiian.
In a separate ranking for low-cost and regional carriers, Allegiant was best among U.S. airlines followed by Southwest. Allegiant's total score was 55.5, and Southwest earned a 53.6 score.
Meanwhile among 21 aerospace companies, Aviation ranked The Boeing Co. third after Lockheed Martin and Portland's Precision Castparts Corp.
You may remember a power outage on the Tideflats July 3 that briefly cut power to some industries and caused an incident at U.S. Oil and Refining.
In that incident, oil sprayed over a small area from plant machinery coating some cars with petrol.
The accident happened when a straddle carrier at the Port of Tacoma's Pierce County terminal hit a power pole.
Now security footage of that accident from port security cameras has been posted on YouTube. Some members of the Longshore Union aren't happy with that posting, and the Port of Tacoma wants to know how its footage made it to the popular Web site.
The accident is being investigated by the terminal operator, and the parties involved, the terminal operator, the port and Tacoma Power are sifting through the details to find out who will pay for the damages.
"What's fortunate is that there were no major injuries to the straddle carrier driver," said port spokeswoman Tara Mattina. "But we're curious how that tape got on the Internet and we're investigating," she said.
