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Archives: Jan. 2012

Jan.
26th

Tacoma’s Columbia Bank profits up for Q4 and 2011; board declares special one-time cash dividend

Given a strong net profit for the fourth quarter and for all of 2011, the board at Tacoma-based Columbia Bank has announced a quarterly cash dividend of 8 cents per share plus a special cash dividend of 29 cents per share.

The numbers, released early Thursday:
• Net income for the quarter at $14.8 million, an increase of 17 percent compared to $12.6 million for the fourth quarter in 2010.
• Quarterly per-share income of 37 cents, up 16 percent from 32 cents the year before.
• Annual net income of $48 million, up 86 percent from

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Jan.
26th

Snow and ice storm cost Alaska Airlines $3.5 million

Last weeks’s snow and ice storm cost Sea-Tac Airport’s biggest airline some $3.5 million, Alaska Airlines officials said in a fourth-quarter earnings call today.

Those costs were split between fares that were refunded because flights were cancelled and extra costs of coping with the ice.

The airline cancelled 33 percent of its flights late last week as ice coated planes and runways in the Pacific Northwest. A snow storm was followed by freezing rain which coated aircraft at Sea-Tac with a thick layer of ice which had to be removed before planes could depart.

Some 45,000 Alaska passengers were inconvenienced

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Jan.
26th

Alaska Air Group reports second year of record income, but fourth quarter lags

Fuller planes, better scheduling and route expansion helped SeaTac-based Alaska Air Group report record earnings today for the second consecutive year.

Alaska, parent company of Alaska Airlines and Horizon Air, says its net income for 2011 excluding special items totaled $287.4 million or $7.83 a share. That was higher than 2010’s record profits of $262.6 million or $7.14 a share.

“The improvment was due to schedule optimization and network expansion, high load factors, lower non-fuel costs and industry-leading customer service and operational performance,” said Alaska Air Group Chairman Bill Ayer.

While the airline holding company’s full-year results were higher than

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Jan.
25th

It’s that time again: Celebrate local businesses at Tacoma Shift Happens 2012

The second annual celebration of shopping locally happens Monday.

Tacoma Shift Happens, an initiative by business alliance GoLocal, is an attempt to get people to shift 10 percent of their spending from national chains to a locally owned businesses.

The event is open to the public, and everyone is invited.

Tacoma Shift Happens 2012 starts at 4 p.m. with a happy hour featuring a cash bar and more than 20 local food vendors, according to the event’s website. That leads into the featured proram, including the Mayoral State of the City address, followed by a showcase of

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Jan.
25th

Healthy profits mean big bonuses for Boeing employees

Boeing’s better-than-expected profits will mean fatter paychecks for the majority of Boeing’s Puget Sound workforce next month.

The company’s 2011 net income jumped by 21 percent, Boeing reported today.

The company’s Employee Incentive Plan will pay non-executive and non-Machinists Union members either 15 or 16 days of extra pay in their mid-February paychecks, the company announced in an internal memo today. About 109,000 employees company-wide will receive those bonuses. In the Puget Sound area, 48,497 workers will see the bonus in their paychecks on Feb. 16.

For a Boeing engineer making $100,000 a year, that means a one-time

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Jan.
25th

Port of Tacoma container business ekes out an increase

The Port of Tacoma’s dominant business eked out an increase last year, new statistics show, but that business volume remains far below its pre-recession highs.

The port’s terminals handled 1,488,799 cargo container units last year, figures released by the port this week show. That’s 2.3 percent above the 1,455,466 the port saw in 2010.

The port’s container business had fallen every year since 2006, when the port handled 2,067,185 container units. The business bottomed out in 2010.

The port’s higher container volume still falls substantially short of that of its Puget Sound rival, the Port of Seattle. Seattle

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Jan.
25th

Big Norwegian orders for Boeing, Airbus

Europe’s third largest discount airline, Norwegian Air Shuttle, announced orders and commitments for 222 aircraft worth $22 billion from Boeing and its European rival, Airbus.

The airline signed firm orders for 100 of Boeing’s new 737 Max aircraft and 22 orders for existing generation 737-800 airliners. The airline said it had signed a memorandum of understanding to purchase 100 Airbus A320neos.

The 737 Max and A320neo are the latest versions of each aircraft maker’s single-aisle aircraft, the 737 and A320 updated with new engines and aerodynamic improvements. The first A320neo is due for delivery in 2015. The 737 Max is

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Jan.
25th

Boeing earnings fly past Wall Street estimates but 2012 earnings may disappoint

Boeing Co. this morning delivered a big surprise to Wall Street this morning: earnings more than 80 percent above analysts’ average predictions.

Earnings for the fourth quarter totaled $1.84 a share. Wall Street had predicted a $1 per share profit.

Other fourth quarter numbers were up significantly. Revenues at $19.55 billion rose 18 percent from the fourth quarter of 2010. Earnings from operations, $1.597 billion, increased by 45 percent from the prior year. And net income bumped up 20 percent to $1.393 billion from the same quarter in 2010.

Boeing’s Puget Sound-based Commercial Airplanes Group saw significantly better

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