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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Tuesday, February 17th, 2009
Posted by John Gillie @ 02:34:55 pm

One of Europe's largest airlines, Air France/KLM, announced today it will delay delivery of five new planes from Boeing and Airbus to its fleet.

The airline said sour economic conditions required it to cut back expenses, thus the delivery delays.

The airline didn't say how many aircraft deliveries it would postpone from each manufacturer.

Air France said the postponements, however, will include Boeing 777 passenger jets and freighters and unspecified Airbus aircraft.

Aviation analysts are predicting the airline will cut back on deliveries of Airbus superjumbo A380 airliners.

Categories: General, Aerospace, Tourism
Posted by John Gillie @ 02:29:08 pm

Just when you thought you knew how to navigate the roads around Sea-Tac Airport, the airport is once again changing traffic patterns to accommodate construction.

Beginning Thursday, traffic exiting the airport parking garage will be routed directly from the toll plaza northbound onto the airport freeway. Traffic no longer will be able to exit from that freeway to access North 170th Street and to connect with International Boulevard southbound toward Tacoma.

Garage parkers wanting to head south should instead take the exit marked "Return to Terminal" and then exit the airport drive southbound on International Boulevard.

Construction on a new station for a light rail connection from the airport to downtown Seattle will block the former garage exit to the freeway. The light rail system is due to begin service late this year.

Categories: General, Aerospace, Tourism
Posted by John Gillie @ 02:14:48 pm

Now that the $789 billion stimulus bill is law, the White House has been quick to enumerate its estimates of just how many jobs will be created in next two years in each state and congressional district.

Here are the predictions:

Washington -- 75,000 new jobs

Sixth Congressional District, Rep. Norm Dicks - Olympic Peninsula, Gig Harbor, much of Tacoma -- 7,700 new jobs.

Seventh Congressional District, Rep. Jim McDermott -- Seattle, Vashon Island, Burien, Tukwilla, -- 8,500 new jobs

Eighth Congressional District, Rep. Dave Reichert -- eastern King and Pierce counties - 9,200 new jobs.

Ninth Congressional District, Rep. Adam Smith -- southern Pierce County, northern Thurston County, South King County -- 8,000 jobs

Those figures, of course, are based on population and job types and represent the most basic guesses about the effect of the stimulus.

The biggest winner in the stumulus job creation business is predicted to be California where 396,000 jobs are expected to be created by the infusion of new money.

Texas is in second place with 269,000 new jobs followed by New York with 315,000 jobs, Florida with 206,000 jobs and Illinois with 148,000.

At the bottom of the list are the less populous states, Alaska, North Dakota, Vermont and Wyoming with an estimated 8,000 new jobs each.

Posted by C.R. Roberts @ 01:49:38 pm

Tacoma-based Northern Lights Ventures has formed a strategic partnership with BNP Paribus Partners, the asset management division of one of Europe’s largest banks.

The partnership will “work closely to identify, invest in, and support the growth of institutional investment firms, primarily in the United States, but also in Asia and Europe,” according to a release today.

For BNP Paribus, the partnership will provide insight “into developing trends in the asset management industry” and help the company to find “exceptional investment managers with a strong potential for growth.”

Northern Lights – a private equity firm that scouts for and provides resources to money managers – was formed in 2006 by Paul Greenwood and Andy Turner, former executives at Russell Investments, and Tim Carver, formerly with Orca Bay Partners.

The partnership will offer the firm access to “one of the world’s preeminent banks, while at the same time allowing us to maintain our independence. Through BNP Paribus Investment Partners, we are able to further expand our reach globally, a major advantage for both our firm and our portfolio companies,” said Greenwood.

Details of the partnership were not disclosed, although the release did say Northern Lights management would retain “a large majority interest” in the firm.

Categories: General, Banking
Posted by Kelly Kearsley @ 01:17:04 pm

The Census is a year away, but the local Census office is hiring now.

More than 4,000 local workers will be needed to help with the Census 2010, according to Gov. Chris Gregoire's office. The hiring is taking place this month through May.

Most of the open positions are for Census takers -- people to update the Census address lists and the bureau's maps. They are temporary, part time positions and they pay a "good" hourly wage, according to the Census Bureau's job hot line.

No experience is required.

“This is not only an opportunity for thousands of Washingtonians to gain much-needed employment, this census ensures Washington receives its fair share of federal funds,” Gregoire said. “Every Washingtonian who completes the census form means about $800 of federal funds each year coming to Washington for roads, community and senior centers, schools, hospitals and emergency preparedness.”

Those interested in applying for employment should contact the Regional Census Center Recruiting Department at 866-861-2010 or go to www.census.gov/rosea/www/emply.html.

Categories: Aerospace
Posted by C.R. Roberts @ 12:38:26 pm

If you’re in the market for a job (and you like to work with ice cream), you’ve still got an hour or so to apply for a position at the newly remodeled Dairy Queen at 2110 Mildred Street in University Place.

I spoke this morning with owner Bob Mandel, who is overseeing interviews in the restaurant at a nearby bowling alley. He explained that he has invested $750,000 in the Dairy Queen – “from floor to ceiling” – and that he expects to reopen by March 2.

Beginning with interviews yesterday, he has hired 22 people so far, he said. He’s looking for a dozen more, from cooks to counter help. If you miss the chance to apply today, Mandel said he will be training at the store next week, and he'll continue to take applications after the store opens.

At least 150 people have applied, including overqualified candidates – ”people who shouldn’t be here.”

“I anticipate running a better store, a faster store,” he said. “I’m hiring more people. I’m going to hire enough people to do it right.”

Several former employees, including his manager of 11 years and a few others, will return to the restaurant when it opens. Mandel has owned the Dairy Queen for 18 years, and it has been a fixture on Mildred for at least 30, he said.

Posted by C.R. Roberts @ 07:08:42 am

Northwest Commercial Bank has received $2 million from the U.S. Treasury as part of the Capital Purchase Program stimulus package.

Kurt Graff, president and CEO of the Lakewood bank, said in a release Monday that the money would be used to provide funding for loans.

The bank “will make those funds – and more – available to individuals, businesses and builders in the local area at competitive rates,” Graff said in a release.

“We have continued making loans throughout this tough economic period and the additional funds will allow us to expand our loan efforts,” Graff said.

Categories: Banking