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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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Moody's Investors Service on Friday lowered Snoqualmie Entertainment Authority's corporate rating, probability of default rating and senior notes rating to Caa1 from B3.
According to a Reuters report, Moody’s said “the outlook is negative. The rating action is based on our expectation of a weak ramp-up for Snoqualmie Casino, which opened in November 2008, due to bad weather conditions that negatively impacted two months of operations and deteriorating economic conditions in the first half of 2009.”
Along with the weather, Moody’s mentioned the local economy by saying business at the casino “could be negatively affected by the aggravating economic pressures in the Seattle metropolitan area. The housing correction, which started locally in the second half of 2008, could be a significant weight through 2009.”
The weather, the economy and Boeing/Microsoft factor: “The dominant commercial aircraft and software sectors in the region have recently experienced significant layoffs. As a result of these challenges, we believe that (income before deductions) could be significantly lower than expected at the time of the rating assignment.”
Moody’s said the ratings have been lowered to Caa1 from B3 on $330 million in senior notes.
The casino last November.
I’ve left messages seeking comment both from the casino and the tribe, but have not heard back. When I do, I’ll update this report.
Joel G. Edwards has resigned as chief financial officer and treasurer of Tacoma-based Rainier Pacific Financial Group.
The news came today in a required filing to the U.S. Securities and Exchange Commission.
Edwards also resigned as CFO, treasurer and secretary of the company subsidiary Rainier Pacific Bank. The resignations will be effective on February 27.
John Hall, president and CEO of the holding group and the bank, will fill the vacancies created by Edwards’ departure, according to today’s filing.
No reason was given, and Hall has been unavailable for comment.
