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Archives: March 2010

March
31st

Boeing to take $150 million charge due to health care bill

Boeing Co. will take a charge of $150 million due to the recent health care overhaul legislation, the aircraft maker said Wednesday.

The charge will hurt earnings by 20 cents per share in the first quarter of 2010, The Associated Press reported.

In 2013 Boeing will no longer be able to claim an income tax deduction related to certain prescription drug benefits for retirees. Accounting rules require that the company take the charge during the period the legislation is enacted.

Several other companies have said they will take accounting charges due to the health care reform bill including AT&T, AK

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March
31st

Frontier stock dips to 52-week low; board orders change in annual meeting while a top executive resigns

Stock in Everett-based Frontier Bank fell to a 52-week low today on news this week that President John Dickson has abruptly resigned.

At the market’s close, the stock was trading at $1.95, down 16 cents.

Neither Dickson nor Frontier Chairman and CEO Patrick Fahey offered comment on the change in leadership.

Frontier’s board last week reported to the Security and Exchange Commission that it had decided to change the date of its annual meeting. Previously, Frontier shareholders would meet within 120 days of the end of the bank’s fiscal year. Now, the meeting can be held at any time within

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March
30th

American Fast Freight now at new Fife location

American Fast Freight is up and running at its new location in Fife.

The transportation and logistics  company celebrated its new 80,000-square-foot building with an open house last week, though they officially moved there in January. The company ships cargo to Alaska, Hawaii, Guam and Puerto Rico.

American Fast Freight had leased property in the Tideflats from the Port of Tacoma, but moved to make way for the port’s now canceled plans to build container terminals on the Blair Waterway.

The new facility has about the same amount of warehouse as the company’s last location, but was designed with a

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March
30th

New Pacific Avenue lease for UWT?

The University of Washington Tacoma is in talks with a potential tenant who wants to open a restaurant on Pacific Avenue next door to a Subway restaurant and a local bookstore.

The school wouldn’t confirm the name of the tenant on Tuesday, but the state liquor board posted notice recently on the door of 1914 Pacific Ave. that University Gyro House had applied for a license to sell beer there.

The 1,400-square-foot retail bay is on the ground floor of the William W. Philip Assembly Hall, which opened in September 2008. It’s one of two retail bays in the school-owned

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March
30th

Class A office space in Tacoma will be scarce until Russell vacancy

Once the Washington Attorney General’s Office and Grant Makers move into the recently completed Pacific Plaza in downtown Tacoma in the second quarter this year, Class A office vacancies in Tacoma’s Central Business District will drop below one percent, a new report says.

The report from commercial real estate firm Colliers International notes, however, that that scarcity of Class A space will take a sharp reversal when Russell Investments moves its headquarters from downtown Tacoma next fall to downtown Seattle’s former Washington Mutual headquarters tower.

The Russell move will vacate the investment adviser’s 224,000-square-foot headquarters on downtown Tacoma’s A Street.

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March
30th

Airbus aerial tankers are unfit for war zones – UK paper

Britain’s new fleet of Airbus A330-based aerial tankers can’t refuel warplanes over Afghanistan or other war zones because they’re unequipped to fly in “high threat environments,” a British publication says.

The Mail said the tankers need armor, antimissile systems and early warning electronics to allow them to operate in hostile environments. Equipping the 14 Airbus tankers with that equipment would cost British taxpayers millions more, a report from Britain’s National Audit Office said.

The A330-based tankers are similar to the ones that Airbus parent EADS is contemplating offering the U.S. Air Force in a competition for a 179-plane contract. Boeing

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March
30th

Seaplane airline links with Alaska Air frequent flier program

The nation’s largest passenger seaplane airline, Kenmore Air, has allied itself with SeaTac’s Alaska Air and its frequent flier plan.

That new alliance means that Kenmore Air passengers can earn 250 Alaska Airlines Mileage Plan miles for every Kenmore Air flight.

Alaska Mileage Plan members can redeem 10,000 miles for a Kenmore Air roundtrip flight between Seattle and Victoria, B.C. or any Washington destination beginning April 15 for travel beginning in June.

Kenmore Air flies to Victoria and destinations in the San Juan Islands via seaplane from Lake Union in Seattle and from Kenmore on Lake Washington. Seasonally, the airline

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