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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Bombardier Inc., the Canadian planemaker, has signed a sales agreement worth a reported $1.44 billion for 20 of its new C series aircraft with an Irish leasing company.
The twin-engine aircraft are to be delivered to Lease Corp. International Financing beginning in 2013.
The C series aircraft will compete with the smaller capacity versions of Boeing's 737 and Airbus's A320 series of aircraft.
The new planes feature fuel-saving geared turbofan jet engines from Pratt & Whitney.
The order is the second for Bombardier in recent weeks. Germany's Lufthansa signed an order for 30 C series aircraft three weeks ago.
Despite ample supplies of gas, the price of regular unleaded continues to rise gradually in Tacoma and in the country.
The average price for a gallon of regular hit $2.259 in Tacoma today according to TacomaGasPrices.com. That's 10 cents more per gallon than a week ago.
Nationwide, gas prices reached $2.03 a gallon today, up about 8 cents from a week ago.
But the good news is that that Tacoma area price is nearly $1.13 a gallon less than the same week last year.
The lowest price in the Tacoma area today was a Puyallup's Costco store which was selling a gallon for $2.05.
Expect to see gasoline prices to rise through spring as refineries shut down capacity to modify their processes to produce summer-grade gasoline.
Energy analysts expect peak prices in late spring will be substantially below last summer's $4.35 a gallon because of the recession and the reduced demand it brings.
Bill Ayer, chairman of SeaTac's Alaska Air Group, received compensation worth more than $2 million last year according to a government filing by his airline holding company.
Ayer heads a company that owns both Alaska Airlines and Horizon Air.
His total compensation last year was $2,022,664 compared with his 2007 compensation of $1,945,736. Those total compensation figures include a base salary plus various stock and stock option awards whose value varies greatly based on the current price of the airline holding company's stock.
The Alaska board of directors has maintained Ayer's base salary at $360,000 a year for the last three years. That base salary is less than the $551,375 average base compensation for the CEOs of rival major U.S. airlines.
According to Alaska's proxy statement, Alaska Airlines President Brad Tilden was paid compensation totaling $924,138 last year. Glenn Johnson, the airline company's chief financial officer, received $1,413,090.
Jeff Pinneo, President of Horizon Air, was paid $858,746 in 2008.
Former Alaska Executive Vice President for Marketing and Flight, Gregg Saretsky, earned $1,701,073. Saretsky resigned effective Dec. 31 last year.
His going away compensation package included $32,308 in payment for unused vacation and a $12,000 payment in lieu of outplacement services. He was scheduled to receive separation payments of $23,350 per month for 17 months beginning January 2009, and a monthly consulting payment of $31,817 per month for 12 months beginning January 2009.
He also received a payment of $36,000 instead of medical coverage for a period of two years following his departure.
