The Biz Buzz

Get the most up-to-date news, insights and analysis of Tacoma, Pierce County and South Puget Sound business.

NOTICE: The Biz Buzz has moved.

With the launch of our new website, we've moved The Biz Buzz.
Visit the new section.

Archives: Nov. 2009

Nov.
30th

State workers’ comp premiums will increase an average of 7.6 percent next year

The state Department of Labor & Industries announced today  that workers’ compensation premiums will increase by an average of 7.6 percent in 2010.

“I do understand how difficult the economic environment is right now and wanted to keep the increase as low as possible,” said L&I Director Judy Schurke in a press release.
Read more »

Nov.
30th

Boeing delivers airborne warning and control aircraft to Australian Air Force

Boeing has delivered the first two of six Wedgetail Early Warning and Control aircraft to the Royal Australian Air Force.

The Wedgetail aircraft are modified Boeing 737-700 airliners equipped with a sophisticated suite of sensors and battle management computers.

The Wedgetail program has been plagued with delays as Boeing and its subcontractors worked to get the state-of-the-art equipment functioning properly.

The mission of the Wedgetail is to director offensive and defensive forces while maintaining a continuous surveillance of airborne and maritime targets.

Nov.
30th

Shopping tips from the attorney general

Attorney General Rob McKenna’s office often is the last resort for some consumers who’ve found out that their holiday purchases and the merchants from whom they bought leave much to be desired.

To avoid those traps and to help consumers make their case for refunds or repairs, the attorney general this holiday season has published a list of cautionary tips to make the season go more smoothly:

“You’ll have yourself a merrier little Christmas if you don’t wait on rebates, read the fine print on return policies, and follow a few other common-sense suggestions,” McKenna said.

1. Bring ads

Read more »

Nov.
30th

Auto inventory at the Port of Tacoma shrinks

Early this year, as auto sales nationwide crashed with an uncertain economy and difficult financing, imported autos began piling up at the Port of Tacoma.

Now, with the economy showing signs of revival and automakers cutting production to match demand, those vast lots full of unsold cars and trucks are shrinking.

Here are the figures from the Port of Tacoma:

February autos in storage: 47,000.
Mid summer autos in storage: 32,100.
November auto inventory: 12,600.

————————————————————————

Nov.
27th

FDIC names Sterling, Evergreen and Pacific International in October orders

The Federal Deposit Insurance Crop. on  Friday released its list of 80 enforcement actions taken in October. The list contained mention of  two cease and desist orders against Washington banks.

Both Spokane-based Sterling Savings Bank and Seattle-based Evergreen Bank were ordered to take certain measures to stabilize their financial situations.

Both were required to satisfy certain requirements for sound leadership and to work to increase the financial health of their institutions.

Spokesmen were unavailable from either bank on Friday.

Also on Friday, the FDIC said it had ordered, and Seattle-based Pacific International Bank had agreed to pay, a penalty of

Read more »

Nov.
27th

State investigation against Puyallup “broker” has concluded, broker says

A state investigation concerning Shawn Portmann of Puyallup – who was alleged to be an unlicensed mortgage broker or loan originator – has concluded, and Portmann has agreed to a state order issued in September.

“We have complied and the investigation is closed as of last Friday,” Portmann said Friday.
The State Department of Financial Institutions said in a Temporary Order to Cease and Desist that Portmann, operating with S&P Lending Group LLC, had conducted business as “Senior Loan Officer” and “engaging in the business of a mortgage broker or loan originator without first obtaining and maintaining a license.”

Read more »

Nov.
25th

Kent’s Naverus Inc. sold to GE

A Kent company that pioneered satellite-based navigation procedures for commercial airliners has been been sold to General Electric Co.’s aviation unit.

Naverus Inc., founded by two Alaska Airlines pilots, has developed global positioning system-based procedures for navigating airliners precisely on complex landing and takeoff paths.

Alaska Airlines first developed those procedures in the mid-’90s for navigation to Alaska airports frequently socked in by bad weather and restricted by nearby mountainous terrain.

Naverus has developed Required Navigation Performance procedures for numerous airports in the U.S. and Australia. It has also created precise approach paths for Chinese airports in the Himalayas.

No

Read more »

Nov.
25th

Museum of Flight offering free youth admissions

Seattle’s Museum of Flight is offering youth 17 and younger free admission from Dec. 1 through Dec. 20 thanks to a grant from a Seattle foundation named after a longtime Seattle resident and World War I pilot Norman Archibald.

Archibald, the author of a popular book, “Heaven High, Hell Deep,” was shot down and captured as he flew along the German front in France in World War I. He was imprisoned in a German concentration camp.

An exhibit in the museum’s lobby and in the J. Elroy McCaw Personal Courage Wing will tell the story of Archibald’s career.