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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Thursday, August 6th, 2009
Posted by John Gillie @ 04:11:36 pm

A California-based airborne Internet communications company with contracts to provide airborne Web service to both Alaska and Southwest airlines have received the go-ahead from the Federal Communications Commission.

Row 44 won permission to operate its satellite-based system after a long political struggle.

Its application was opposed by rival ViaSat.

Both Alaska and Southwest have been testing Row 44's broadband system on a handful of aircraft awaiting final approval from regulators.

Other airlines are using ground-based Internet providers that use transmitters mounted on cell towers to provide airborne coverage.

Alaska picked Row 44 as its Internet provider in part because the satellite-based system will reach aircraft flying over remote parts of Alaska, over the Pacific Ocean between the continental U.S. and Hawaii and over Mexico.

The airline said it plans to equip its fleet within a year.

Categories: Aerospace, Tourism
Posted by John Gillie @ 03:13:36 pm

EgyptAir announced today it is converting an order for two long-range Boeing 777 jets into an order for eight smaller 737-800 jetliners.

The company has seven 737-800 single-aisle jets in its fleet now, and it is taking delivery of five more of the 160-passenger jets this year.

The airline has five 777s in its fleet now with orders for six 777-300ERs beginning in 2010.

The airline will use the Renton-built 737s to provide regional service from its hub at the new Cairo International Airport.

Categories: General, Aerospace, Tourism
Posted by John Gillie @ 03:03:36 pm

The Federal Aviation Administration ordered U.S. airlines to modify their Boeing 767 twin jets to reduce the possibility of a fire in the planes' center fuel tank.

The federal agency gave airlines three years to modify the twin-aisle jets with an automatic fuel pump shut-off system. Domestic airlines have some 400 767s in their fleets.

The automatic systems would turn off fuel pumps in the center tank when fuel levels get low. Regulators fear that the fuel pumps could ignite a fire or an explosion because of vapors in the near-empty tanks.

Until the planes are modified, aircraft crews are being instructed to manually turn off the center tank fuel pumps when the fuel is exhausted.

Investigators believe that an explosion that ripped apart a TWA Boeing 747 near Long Island in 1996 may have been caused by stray electrical sparks in the near-empty center fuel tank.

Boeing advised airlines two years ago to begin making the modifications, but the planemaker's suggestion didn't carry the force of law.

Categories: General, Aerospace, Tourism
Posted by C.R. Roberts @ 12:44:00 pm

More details have arrived concerning the Columbia Bank stock offering.

In a filing released earlier today, Columbia Banking System said it will be selling 8.5 million shares of common stock at a public offering price of $12.25 per share.

After underwriting discounts and commissions, but before other expenses are calculated, the bank expects receive $98,918,750.

Underwriters have the option to purchase up to 1.275 million additional shares within 30 days to cover any over-allotments, if any.

The shares are being offered by prospectus. Keefe, Bruyette & Woods is serving as the lead book-running manager of the deal, with D.A. Davidson as co-manager.

In the prospectus, Columbia said it intends to use the proceeds “to fund internal growth and selective acquisitions that meet our disciplined criteria and for general corporate purposes. With respect to acquisitions, we may use proceeds of the offering to take advantage of opportunities such as FDIC-assisted acquisitions.”

Also, the bank said it might decide to "apply proceeds to the repurchase of all or a portion of the Series A Preferred Stock we have issued to the Treasury.”

Before any specific allocation of the funds, the bank said it will invest the proceeds in short-term interest-bearing investment grade securities.

With less than a half-hour left in trading today, Columbia stock is up 86 cents to $13.85, an increase of 6.62 percent on the day.

Categories: Banking
Posted by C.R. Roberts @ 11:53:01 am

Come one, come all, come those of you looking for work.

Three thousand jobs are about to open in Puyallup.

At the Fair.

The Western Washington Fair will begin hiring next Wednesday, Aug. 12, for its 2009 run.
The fair opens Sept. 11 and closes Sept. 27, and hiring will continue through Sept. 25.

Among the jobs available are positions in food service, games, rides, barns, retail sales and cleaning. And more.

Early applicants will get the best chance at the jobs of their choice.

Wages begin at $8.55 per hour, with some paying more based on duties and skills required, according to a release today from fair spokeswoman Karen LaFlamme.

Applications will only be taken in person at the WorkSource Employment Office on the north side of the fairgrounds at 9th Avenue Southwest between 4th Street Southwest and 5th Street Southwest.

Prospective employees must be at least 16 years old and be able to provide both a picture ID and proof of the legal to right to work – such as a Social Security card or alien registration card.