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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Friday, September 26th, 2008
Posted by C.R. Roberts @ 04:52:29 pm

David Bennett, director of public relations for the Washington Credit Union League called this afternoon to say, “One thing that I haven’t heard any eporting on is the National Credit Union Administration, the NCUA, that administers the credit union insurance fund, the National Credit Union Union share insurance fund.”

Let's change that.

Not unlike the FDIC – which has been much in the news lately and which insures accounts at banks – the NCUA insures the accounts of credit union members.

Bennett also said, “Historically, bad times for banks are good times for credit unions.” And these are bad times for at least one bank, the former Washington Mutual.

So how good are the times for credit unions?

TAPCO and BECU, Bennett said, seen a good number of new customers. Tacoma’s TAPCO, he said, “has run out of switch kits for former Washington Mutual customers, and they’re having more printed.” As the name implies, a switch kit allows a customer of one institution to change allegiance.

Bennett said that statewide, between last December and this June, “62,789 new member accounts were opened. During the previous six months, June-December 2007, 23,531 new accounts were opened. That’s an increase of 39,258.”

Categories: Banking
Posted by John Gillie @ 09:49:15 am

The big malls in Tacoma and Tukwila aren't the only ones adding new shopping opportunities these days.

Dave Eatwell at the Puyallup Main Street Association tells us that Puyallup's downtown has added a clutch of new merchants this summer, and others plan to open later this fall:

* Ace Hardware. This new store opened quietly in late July next to Safeway on Meridian in the old Dollar Store space. A grand opening is set for Oct. 17. The owners, Don Heston and his son, Jeff, have years of construction trade and hardware store experience.

* North Pacific Office Systems. This office equipment sales, repair and rental company opened in mid-summer at 205 S. Meridian. The company also offers comprehensive copying services. Jack Gosser and Ed Forghani are co-owners with four dozen years of experience in the copying business.

* A Formal Choice. This boutique sells "modest prom and temple-ready bridals." Naomi Kearns and Margaret Johnson are the proprieters of this new store at 104 W. Meeker St.

* Swanky Couture and Salon. This summertime addition to downtown Puyallup's merchant mix offers women's apparel, beauty and spa services on Meridian Ave.

* Porter's Barbeque. This downtown barbeque restaurant will occupy a portion of the old Bubble Island space on Meridian Ave. Porters sells barbeque at Mariners games.

* Unlocking the Body Massage Therapy Studio. Licensed massage practioner Sybil Johnson offers medical massage, acupuncture, relaxation massage, counseling and spa treatments at 105-A W. Main St.

* Yoga Soleil. Owner Anne Arnston and her staff offer a full range of yoga classes and training at 110 E. Stewart St.

* Mazatlan Restaurant. The local Mexican chain is renovating a former retail space at downtown at Main St. and Meridian Ave. as the site of its new restaurant. Opening should be later this fall.

Posted by John Gillie @ 09:15:21 am

The Boeing Co. reported 24 new orders this week bringing total orders for the year to 610 commercial aircraft.

Significant among those orders were nine for Boeing 767 twin jets. That airplane, which first entered service in the early '80s, had seen its orders dwindle in recent years as Boeing developed the 787 to replace it.

With delays of up to two years in 787 deliveries, the 767 production line is reviving. Boeing didn't identify the origin of the nine new orders, but reports earlier this week noted that Japan's All Nippon Airways, launch customer for the 787 intended to order nine 767 and four 777s to augment its fleet in light of late 787 deliveries.

The new orders also included 10 unidentified orders for 737s, four for 777s and one for a Boeing Business Jet, the corporate jetliner version of the 737.

Categories: General, Aerospace, Tourism
Posted by John Gillie @ 09:09:11 am

Let's hope Boeing vice president Randy Tinseth is correct in his recent prediction about oil prices.

Tinseth, in Australia to visit customers and Boeing facilities, told the media in Sydney that the company expects oil prices to stabilize around $70 to $80 a barrel over the next two decades.

That's more than $25 less than oil futures have been pegged at this week and half what they hit in mid-summer.

Those high oil prices drove gas prices locally above $4.35 a gallon and put huge dents in airlines' bottom lines.

Categories: General, Aerospace, Tourism