The Biz Buzz

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Archives: Aug. 2010

Aug.
30th

Scam Alert: Better Business Bureau notes suspicious calls to Olympia area

The Better Business Bureau has issued an alert concerning a phone-fraud scam being aimed at residents of Thurston County.

“Olympia and Lacey residents have reported suspicious phone calls from an alleged business trying to collect credit card numbers and personal identification numbers — allegedly for verification purposes,” the bureau reported Monday.

The caller identifies the business as “Evergreen.”

If you get the call, don’t respond. Do not give credit-card information out to persons unknown to you.

The suspicious calls, the bureau said, derive from the 502 area code number. The actual number belongs to an unrelated Kentucky-based business, which is

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Aug.
30th

Russell employees, we want to hear from you

A weekly industry publication published a short article yesterday that Russell Investment’s parent company might be ready to sell it.

Such a rumor has made the rounds since even before Russell said last Sept. 9 it was leaving Tacoma for Seattle. Darryll Fortune, a spokesman for Russell parent Northwestern Mutual Life Insurance Co., told Investment News that Russell is not for sale. Jennifer Tice, Russell spokeswoman here in Tacoma, told the publication that the firm doesn’t comment on rumors.

The part that caught my eye was that Tice “disputed the notion that overall employees were unhappy about the move”

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Aug.
27th

FDIC releases recent orders; Cascade Bank of Everett named as consenting to changes while stock dips to 52-week low

The Federal Deposit Insurance Corp. today issued its monthly list of recent enforcement actions addressed to U.S. banks.

For Washington, the regulator noted a July 21 consent order agreed by Everett-based Cascade Bank.

The order, previously announced by the bank, said the bank had agreed to take several steps to ensure safety, soundness and liquidity.

Among the items agreed, the bank would:
• Ensure that the board of directors would take an active role, and that the management team would be qualified and experienced;
• Collect or charge-off all loans classified as a “loss,” and severely regulate other

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Aug.
27th

DFI warns: Beware when seeking a payday loan or short-term financing

If you’re looking for a small loan, be careful. Just because the lender advertises on TV or the Internet doesn’t mean the operation is legitimate.

The Washington State Department of Financial Institutions urged in a release today that consumers should be vigilant when seeking short-term and/or small loans from companies seen on TV or online.

That means read the small print and make sure any company you’re doing business with is licensed in Washington.

The protections offered by state law may not be available to consumers using these services from out-of-state.

“Most Internet-based payday loan lenders are, in fact, not

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Aug.
27th

Once more a Dreamliner delay

Boeing had been hinting for months that its year-end deadline for delivery of its first commercial 787 Dreamliner could slip into next year.

Early this morning, the company made it official.

In a brief statement, Boeing said the delivery of the first Dreamliner to launch customer All Nippon Airways would occur sometime in the middle of the first quarter of next year.

The company blamed a variety of problems: the unavailability of engines in a timely manner from British engine maker Rolls-Royce, problems of workmanship on the horizontal tail supplied by Italian parts maker Alenia and problems with fitting some

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Aug.
26th

Lakewood business owner wins enterprise honor

A Lakewood business owner, Patrick L. Hughes, has been named national Minority Small Business Person of the Year at the National Minority Enterprise Development Week Conference in Washington, D.C.

Hughes is owner of Hughes Group LLC, a firm that provides services to the military and business community.

“We are honoring the Hughes Group today for its extraordinary commitment to excellence in providing innovative products and services to the federal government and commercial markets,” said federal Small Business Administration Administrator Karen G. Mills. “Mr. Hughes’ commitment to excellence has made his small business the third fastest growing minority business in Washington

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Aug.
26th

Boeing will begin training airline Dreamliner pilots next month

With the first delivery of Boeing’s oft-delayed 787 Dreamliner just a few months away, Boeing said Thursday it will begin training pilots for the plane’s launch customer, All Nippon Airways, next month.

Boeing has already installed Dreamliner full flight simulators in its Tukwila training center and in similar facilities in London, Tokyo and Singapore.

The company has also developed a computerized training course for Dreamliner mechanics.

The new plane is in the final phases of testing. One of the five test aircraft flew from Seattle’s Boeing Field this week with plastic appendages taped to its wings and tail.

Those

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Aug.
26th

Horizon Air is changing its business model

Regional airline Horizon Air told employees this week it will make substantial changes in the way it operates next year, turning responsibility for marketing and selling its tickets over to its sister carrier, Alaska Airlines.

Under the new arrangement, designed to take effect in January, all Horizon flights will operate under what’s known as a capacity purchase agreement with Alaska. Under that agreement, Horizon will fly the routes that Alaska dictates for a price fixed by its sister carrier. Alaska will market those flights and retain all of the ticket revenue.

The arrangement, which now covers about 45 percent

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