Washington's largest publicly traded company, Costco, reported lower earnings today as weaker consumer demand made itself felt even at the discount retailer.

The warehouse retailer posted third quarter income of $209.6 million or 48 cents a share down from $295.1 million or 67 cents a share in the same quarter last year.

That income was less than analysts had predicted. The average of analysts' predictions was 53 cents a share.

Revenues decreased 4.8 percent to $15.48 billion.

Some of those decreases were the result of lower gas prices and a $34 million charge the company took to settle a lawsuit over membership renewals.

Employee benefit costs also rose mainly due to heavier usage of health insurance by employees.

Average Tacoma gasoline prices continued their steady ascent this week rising 6.4 cents since last week, but prices still look reasonable compared with this week last year.

Prices then were $4.054 for a gallon of unleaded regular gas and rising rapidly. Those prices would peak in mid-July 2008 at more than $4.34 a gallon.

Fuel prices then fell below $2 a gallon in mid-December.

While Tacomagasprices.com reports the average price for unleaded is more than $2.60 a gallon in Tacoma today, gas is still available for as low as $2.41 a gallon at a Puyallup ARCO station and at Puyallup's Costco.

News Tribune business columnist Dan Voelpel will become Puyallup's new economic development director beginning June 15.

Voelpel's thrice-weekly column has appeared in The News Tribune since May 2003.

"Writing this business column was the best job I've ever had," said Voelpel in explaining his move to the city job. "But Puyallup's offer to do something different and challenging was too attractive to pass up."

Puyallup City Manager Gary McLean said the city hopes to tap Voelpel's extensive knowledge of the business community and development issues.

"Dan's regional contacts, insight, background and energy make him the right choice for Puyallup," said McLean. "For the last six years, while working for The News Tribune, Dan developed a deep understanding of economic issues facing the South Sound. Prior to that, his 12 years working in the Tacoma City manager's office gave him the government experience that is essential for this job."

The new economic development director served as communications supervisor for the City of Tacoma from July 1991 to May 2003.

Voelpel said he's eager to begin the new job.

"If you look around the Puget Sound region for cities with the greatest upside, Puyallup tops the list. It has positioned itself as a desirable destination for a wide range of business and investment opportunities," Voelpel said.

In recent years, Puyallup has redeveloped its downtown, improving streets and infrastructure, building a new city hall, library and market pavilion. On South Hill, the city is working with the new owner of a former microchip plant to renovate that high-tech campus into a more marketable property.

Alaska Airlines has added Fiji-based Air Pacific to its stable of airline partners, the two airlines announced today.

The partnership will allow the two airlines to grant mileage credit to each others' frequent flier program members and to offer codeshare flights.

Codeshare flights are flights that appear on one airline's schedule but are flown by another airline.

Travelers will be able to receive Alaska Mileage Plan miles for flights they take on Air Pacific.

The first fruit of the new collaboration will be an arrangement under which Vancouver, B.C. travelers can book a flight to Fiji on Air Pacific. The first leg of that flight will be flown by Alaska from Vancouver to Los Angeles where travelers will transfer to an Air Pacific Boeing 747 for the onward flight to Fiji.

That Vancouver-Fiji hookup will be available six days a week. It will replace a twice weekly service through Honolulu on an Air Pacific Boeing 737.

The Port of Tacoma Commission plans to meet Friday in executive session to discuss the performance of the port's Executive Director Tim Farrell, according to port commissioners.

The meeting follows a tense past two weeks that resulted in the commissioners receiving a petition -- signed by about a third of the port's staff -- declaring a "no confidence vote" in Farrell.

The petition began circulating shortly after the port notified 47 of its 256 employees that their jobs had been eliminated.

Commission President Clare Petrich said today that Friday's meeting is "a review of the performance status of Tim and of the situation of the layoffs."

Executive sessions are not open to the public and can be held to discuss only specific topics, according to the state's open meetings law. Governing bodies are not allowed to make decisions in executive session.

The commission met Wednesday -- also in executive session -- with Farrell and the port's senior management to discuss details of the layoffs, Petrich said this morning.

Friday's meeting is just between commissioners and Farrell will not be in attendance.

Under the state's open meetings law, governing bodies can meet in executive session to discuss a charge or complaint brought against a public officer or employee.

The employee being discussed can "request that a public hearing or open meeting be held regarding the complaint or charge," according to the state Attorney General's Web site.

Farrell said this morning that he was unaware of that provision in the law. He had no comment regarding the commission's meeting.

He has said that the port needs to reduce its staff to match its shrinking business. Cargo volume has dropped dramatically over the past two years.