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Archives: May 2011

May
26th

Tacoma-Pierce County Chamber announces new CEO

The Tacoma-Pierce County Chamber announced this morning it has hired a new CEO: Tom Pierson, the current CEO of the Federal Way Chamber.

The Tacoma nonprofit business organization has been searching for a new CEO since last fall when longtime leader David Graybill retired.

According to the Chamber’s news release, Pierson has led the Federal Way group for eight years and doubled its membership to nearly 500 businesses. The Tacoma group has lost membership, and therefore revenue, during the past few years.

Here’s the Chamber’s announcement:

Tom Pierson will bring his passion for business, problem-solving and collaboration south as the

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May
25th

Number of banks, bankers dips in Q1; profitability and portfolios improve

In some respects, Washington banks insured by the Federal Deposit Insurance Corp. did better in the first quarter than they did in the first quarter of 2010.

In others, not. Very much not.

In its quarterly report out this week, the FDIC said it insured 79 institutions in Washington – down from 88 in 2010 and far down from 96 in 2009.

Among other data:

• First-quarter net income for insured banks was $47 million, up from a loss of $139 million a year before and a loss of $181 million in 2009.
• Total assets for 79 institutions

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May
25th

Horizontal tail for stretched Dreamliner may be built in Puget Sound area

The composite horizontal tail for Boeing’s 787-9 Dreamliner will be designed and built in Boeing facilities in the Puget Sound area, the head of Boeing’s commercial division told Wall Street analysts this week.

Jim Albaugh, president of Boeing Commercial Airplanes, said the tail would initially be designed and built in prototype form at Boeing’s Development Center at Boeing Field with production later expanding at other Boeing sites.

One of the potential sites is Boeing’s Frederickson plant where the company builds the 787-8′s vertical tail and the tail for the Boeing 777.

The Italian company that makes the horizontal tail for

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May
25th

Dreamliner construction rate accelerating

Boeing says it is dialing up the assembly rate of its long-delayed 787 Dreamliner.

The company said this week that it will gradually increase that production to 10 a month in 2013. It now produces two a month at its Everett plant. The first production Dreamliner is due for delivery this fall.

The company is building a second assembly line for the 787 there and another in North Charleston, S.C.

Aerospace blogger Jon Ostrower said he’s heard that the company could accelerate production to as high as 17 planes a month if it got its supply chain functioning

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May
25th

Don’t count on a 737 decision from Boeing at Paris Air Show

It now looks like Boeing won’t be making up its corporate mind about whether to re-equip its venerable 737 with new engines or design a whole new aircraft anytime before late this year.

Some pundits had hoped that Boeing, which has seemed to favor the all-new approach compared to the upgrade approach that its rival, Airbus, has chosen for its A320 line of single-aisle aircraft, would make its choice known at next month’s Paris Air Show, the aircraft industry’s biggest event of the year.

But Boeing executives this week told analysts meeting in Seattle that the decision is still six

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May
25th

Sound Credit Union merger with Watermark receives regulatory approval; next step is approval from Watermark members

Tacoma-based Sound Credit Union is one step nearer to its merger with King County’s Watetrmark Credit Union.

Sound announced today that the National Credit Union Administration and state regulators have approved the $1.1 billion merger. Washington regulators gave approval on March 23, pending NCUA approval. NCUA regulators approved the merger on Monday.

The next step in the process requires approval by Watermark members. Next month, Watermark will host a trio of town meetings for members. The members will then vote, and results are expected to be announced by June 24.

“We are moving forward. It’s pretty exciting,” said Richard Brandsma,

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May
25th

Tacoma Food Co-op hires general manager

As first noted over on Tacoma KOMO, the Tacoma Food Co-op has hired an entrepreneur with a background in the grocery business to be the general manager of its planned retail store on Sixth Avenue.

Henri Parren most recently was the general manager for Spud.com, a western North America online-based grocery delivery service. He also has been a part-owner and vice president of operations for Tacoma-based Griot’s Garage, a premier car-care company.

“Henri grew up on Dutch farmland where the sustainable lifestyle was the norm. The daily home cooked meals included a lot of fresh, organic and

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May
24th

IRS grant application period open for organizations offering tax assistance

If your organization can provide tax counseling, the Internal Revenue Service is accepting applications for grants.

The window is open between now and June 30 for applications to offer Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grant programs, the IRS said today in a press release.

Organizations that have previously provided training may apply for up to three years.

The 2012 application packages and guidelines are available on the IRS website. More information about the TCE and VITA grants is available in Publication 4680 TCE & VITA Grant Programs.

In 2011,

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