The Northwest Multiple Listings Service breaks down Pierce County into more than 100 neighborhoods and then groups those into 17 areas including Central Tacoma, North Tacoma, Gig Harbor, Lakewood and Sumner.

Here's a look at the median price of homes and condos sold in March by area and the percentage change when compared to the median home price in March 2008.

Areas that had less than 10 homes sold -- Roy/McKenna/Harts Lake and Anderson Island -- are not included in the chart.

One MLS area -- Graham and East Pierce county -- did show a year-over-year price appreciation. But keep in mind that the figure is derived from a relatively small amount of sales, 16 total for the month compared to 38 sales in the same month the previous year.

Occupancy at hotels statewide was down in February compared to the same month a year ago, and the average price of a room slipped in most regions, reports Bellevue hospitality consultant Wolfgang Rood.

The occupancy rate in Tacoma and Pierce County, with 65.9 percent of rooms taken, was off by 7.3 percent from February 2008, Rood said in his monthly report. Statewide, the 56.3 percent occupancy rate was down 12.6 percent.

The Tri-Cities - Central Washington region saw the greatest decline, down 18.8 percent on the year. The Tacoma-area decline the state’s smallest.

The average cost of a room was down 6.9 percent statewide in February, to $111.34, Rood said, while the average rate in the Tacoma area – $80.90 – was up 1.6 percent. Southwest Washington and the Tri-Cities - Central Washington regions also saw gains, both up by more than 4 percent. Bellevue and the Eastside saw the greatest decline, down 11.7 percent.

Layoffs begin today at downtown Tacoma's biggest employer, Russell Investments.

About 400 of the investment advisory firm's 2,000 workers worldwide will receive notice today that their jobs are ending, said Russell spokeswoman Jennifer Tice.

Clearing out at Russell headquarters today.

Tice declined to say how many of Russell's Tacoma headquarters staff of 1,100 will be affected.

"We're not breaking it down by location or by function," she said.

Russell, like many firms in the banking and investment business, has been hit hard by the decline in the world economy. The staffing reductions are designed to reshape the company into a leaner and more focused organization.

"A workforce reduction was necessary and the majority of this effort occurred today, primarily impacting non-client facing roles. We remain committed to serving the needs of our clients and we do not expect any impact on our investment capability," the company said in a statement.

While the Russell spokeswoman wouldn't say what areas of the company are being affected most, she did say that none of the senior analysts and few portfolio managers will be leaving the privately held company.

Some employees may be leaving the company by the end of the week, while others may stay on longer to smooth the transition, Tice said.

Because employment laws differ worldwide, she said, some layoffs may require more time in other countries, she said.

Most of the workers who will be leaving, however, are expected to be gone by April's end.

Russell is providing workers with a transition and severance package that includes help in finding new work, said Tice. She declined to discuss the amount of severance pay or insurance, if any, that will be available to laid off workers.

Russell in the last year has seen the departure of a legion of senior managers including CEO Craig Ueland and longtime chairman Mike Phillips. Other notable defections included Noel Lamb, Russell's chief investment officer for North America, Mark Amberson, head of money market funds, Philip Coates, a money market portfolio manager and Helen Stewart, head of credit research.

Others departing the firm in the last year were Frederic Jolly, Russell Investments' CEO for Europe, Africa and the Middle East and Jon Bailie, chief of the alternatives investments operation.

Some left because of reversals in Russell's business while others departed to take advantage of a bonus program that was due to change at the end of 2008.

The firm's hedge fund programs shut down after discouraging results, and the company's parent, Milwaukee's Northwestern Mutual, reportedly had to infuse $764 million into Russell's money market fund to backstop sour investments in bankrupt Lehman Brothers.

Northwestern Mutual bought Russell from its founding family for $950 million in 1998.

Russell is not alone in the asset management business in trimming its workforce and expenses. According to Financial News Online, rivals such as Legg Mason, Putnam Investments and BlackRock have made similar expense-cutting moves.

Meanwhile, the company has delayed any decision about where to locate a new headquarters building.

Tacoma and Seattle have been battling for that honor for months with Tacoma offering some $148 million in incentives to remain in the community and the Downtown Seattle Association mounting a campaign recently to attract Russell there.

Michelle Berg of Good Karma Boutique in Fircrest writes to say that she and other business owners will host an auction and party on Saturday evening, April 18, to help another business owner, Geraldine Budrovich, with recent medical expenses.

“As a small business owner myself I can only imagine what a burden it must be weighing on her,” Berg says.

The event – slated for 5 p.m. to 8 p.m. at 614-618 Regents Blvd. in Fircrest – will feature food and beverages catered by Poppy Seed Cafe. Auction items will include the work of local artists as well as meals from several upscale Tacoma restaurants. Also, look for light makeovers and scalp massages from local professionals.

In business for nearly 30 years, and for more than 12 at her current location, Budrovich owns the lamp shop Jerika’s at 614 Regents Blvd. From my own experience, it’s maybe the best place in the area to get just the right bulb, the right shade and the right lamp. The store was last featured in The News Tribune in November, 2007.