Monthly Archives: September 2010

Monday markets extend September rally ahead of Fed meeting

Dow up 93 points so far today, at 10,701.

NEW YORK (AP) — Stocks extended their September rally into a fourth week Monday as investors hoped for more moves by the Federal Reserve to prop up the economy.
Buying accelerated after the Standard & Poor’s 500 index broke through the high end of its recent trading range. Technical analysts see that as a hopeful sign for the market.
The Dow Jones industrial average rose nearly 100 points in midday trading. Broader indexes also rose more than 1 percent. Buyers were also encouraged by an announcement from a group of economists declaring that the most recent recession ended in June 2009.
There is a growing expectation that the Fed’s rate-setting committee could relaunch programs to buy Treasurys and mortgage bonds in an effort to further stimulate the struggling economy. At the very least, it might hint at future plans to make such moves following its one-day meeting Tuesday.
“The Fed will hint at it, put it on the table, but not do anything,” said Brian Gendreau, a market strategist at Financial Network Investment Corp.
While many economic indicators have topped forecasts in recent weeks, propelling stocks higher, the economy is far from strong. If the Fed starts buying bonds again it could drive interest rates lower, enabling companies and consumers to get cheaper loans. The Fed had a similar bond-buying program in place earlier this year. Treasury prices were little changed Monday.

Kitsap Business Briefs

Urgent Care Clinic Opens on Island
The Doctors Clinic has opened its third urgent care office in the existing Doctors Clinic facility at 945 Hildebrand Lane NE on Bainbridge Island.
The Doctors Clinic already had urgent cares in East Bremerton and Poulsbo. They offer care without an appointment, provided by physicians and without the facility fee that hospitals charge.
“With our commitment to answering the health care needs of our community we are making the move to provide urgent care throughout Kitsap County at three TDC Urgent Care locations,” said Dr. Brian P. Wicks, president of The Doctors Clinic.
My Kids’ Cookies
Opens in Winslow
My Kids’ Cookies & Coffee has opened at 400 Winslow Way East at the corner of Ericksen Street in Winslow. It offers freshly baked treats as well as a full coffee bar and is open seven days a week. Reach them at (206) 780-3091.
On the Job
w Gregg Epstein of Bainbridge Island BBQ recently was awarded overall best barbecue in the first Suquamish Clearwater Casino BBQ competition. Contestants were rated in four categories by six judges. After 28 hours of meat smoking, Team Bainbridge Island BBQ scored the most points overall to take home the trophy and the competition purse.
w Kevin Krieger has been named Geico field representative of the year for his sales performance, team leadership and community involvement. His office at 9853 Silverdale Way ranked number one among Geico’s 150 field offices across the country. Staff members are agents Cassidy Brott, Chaila Davis, Gina Roof, Kashia Thurman, Sally Wallace, Trudy Polito, and office manager Sandra Lea. They are involved in numerous community activities with the Silverdale Chamber of Commerce and the Puget Sound Naval Base Association.
w Derek Mills of Port Orchard has been named a financial representative for Country Financial. Mills earned a degree in social science from Washington State University in 1995, and resides in Port Orchard with his wife, Jennifer, and their two children, Sophia and Davis. He serves clients from his office at 4707 S. 19th St., Suite 120, in Tacoma. Reach him at (253) 472-2932.
Business Calendar
Sept. 22
What: North Mason Chamber of Commerce will have a no-host luncheon membership meeting catered by Lennard K’s Boat House Restaurant.
When: 11 a.m. new member orientation; 11:30 a.m. lunch and networking; noon to
1 p.m. program.
Where: Mary E. Theler Center, Highway 3 in Belfair.
Cost: $15 with reservation and prepayment; $20 for non-members.
Registration: Visit

Oct. 13
What: Greater Poulsbo Chamber of Commerce will meet Oct. 13 in Poulsbo with Janice Miller of Women in Transition as guest speaker. Luncheon dining tables sponsored by Kitsap Physical Therapy.
When: 11:30 a.m. social, noon luncheon.
Where: Sons of Norway Lodge, Marine Room, Poulsbo.
Kitsap Sun staff

Friday stocks waver after drop in consumer sentiment

Dow up 22 points so far, at 10,594.

NEW YORK (AP) — Stocks wavered Friday after upbeat earnings news from major technology companies was tempered by a discouraging report on consumer sentiment.
The Dow Jones industrial average, which has been rallying throughout the month, rose about 3 points in early afternoon trading. It had been up as much as 55 points earlier.
Stocks started the day on an up note following strong earnings from BlackBerry maker Research in Motion Ltd. and software company Oracle Corp. Those gains mostly evaporated in late morning trading after disappointing results came out from the University of Michigan/Reuters poll of consumers.
The S&P 500 briefly traded at its highest level in four months before slipping back into the same range it has been in since late June. Traders are keeping a close eye on the 1,131 level in the S&P, which was the highest point it reached in intraday trading on June 21. It nearly crossed that barrier in early August before going into a swoon that lasted most of last month.

READER CALL-OUT: Would you support a world-class sportsmen’s club here?


I am preparing a story about the Gig Harbor Sportsmans Club contemplating relocating its facility to Kitsap County. It could be a world-class facility with shooting and archery ranges and more. A club representative toured Port of Bremerton land in the South Kitsap Industrial Area on Wednesday, and has also looked at private property in the area. What do you think? Would this be good for bad for Kitsap?

Sign your full name and hometown, please. You can post here; e-mail me at; or call me at (360) 475-3783.


Rachel Pritchett

Thursday stocks slip as S&P hits top of trading range

Dow at 10,594 this afternoon.

NEW YORK (AP) — The stock market lost its forward momentum Thursday as investors began to pare their stock holdings following a two-week surge. News of a retrenchment by FedEx Corp. also discouraged buyers.
FedEx, which investors see as a bellwether for the U.S. economy, said it would eliminate 1,700 jobs in an effort to fix its money-losing U.S. trucking business. FedEx also gave an earnings forecast that fell short of expectations.
The Dow Jones industrial average edged down 2 points in afternoon trading. Broader indicators posted slightly larger losses.
Another factor keeping buying on hold is the fact that the S&P 500 Index, the benchmark most used by professional investors, is approaching the high end of its recent trading range. Investors are often hesitant to push a major index outside of recently tested limits for fear that automated selling programs could kick in and send prices lower.
Over the past few days the S&P has approached 1,131, a level it has not touched since June. Market analysts have long paid attention to technical trading levels such as these, but they are especially important now since electronic trading is so prevalent.

Monday stocks climb on bank reform, China growth

Dow at 10,517, up 55 points so far today.

NEW YORK (AP) — Stocks extended their rally into a third week Monday as investors sent bank stocks higher following new global regulatory requirements and China’s economy continued its robust growth.
A round of corporate dealmaking also gave a lift to stocks. Hewlett-Packard Co. said it will purchase security software provider ArcSight Inc. Dollar Thrifty Automotive Group Inc. said it accepted Hertz Global Holdings Inc.’s acquisition offer. Acquisitions are often a sign that companies are confident the economy is going to expand soon.
The Dow Jones industrial average rose nearly 43 points in afternoon trading after paring early morning gains. If the Dow holds onto gains Monday, it would be the eighth time in nine days that the index has risen.
“The package of catalysts is a perfect backdrop for a market trying to confirm global economic growth,” said Quincy Krosby, a market strategist at Prudential Financial. Dealmaking and the expansion in China further reduced worries about the economy falling back into recession, Krosby said.
Stocks pulled off their highs Monday afternoon as investors pulled money out of retail stocks ahead of the government’s monthly retail sales report due out Tuesday.
Global regulators agreed to reforms that could help avoid another credit crisis that plagued financial markets worldwide in 2008 and early 2009. Banks will gradually have to increase their reserves to protect against potential losses.

Kitsap Business Briefs

On the Job
Chief Operating Officer Paul Uhlig will assume responsibility for the daily operations of Liberty Bay Bank and board Chairman Bill Parnell will provide daily board oversight and direction, the bank announced last week. They will fill in for former President and CEO Bill Fogarty. A search for a permanent replacement is expected to be complete within three months, according to a statement from the bank.

Scott Richards, a physical therapist for Kitsap Physical Therapy and Sports Clinics, recently was awarded the title of sports certified specialist through the American Physical Therapy Association. She is one of only two sports specialists in Kitsap County and 18 in the state. The SCS designation gives recognition for expertise in rehabilitation of sports-related injuries. Reach him at (360) 792-1015 or visit

Lanny Ross of Bremerton has been re-elected to the executive board of the National Active and Retired Federal Employees Association. He represents NARFE Region IX, which includes Washington, Oregon, Montana, Alaska and Idaho, and his two-year term begins Nov. 1. He spent 32 years as a federal civilian employee, working for the Department of Defense at the Puget Sound Naval Shipyard.

Molly McCabe of A Kitchen That Works in Poulsbo has been selected as a subject matter expert for the U.S. Green Building Council’s Green Home Guide. The Guide is a web-based databank of information on sustainable design and construction practices as well as materials. Consumers also can post questions on the Web site to be answered by the guide’s panel of experts. Reach her at (206) 780-1906.


Sept. 15
What: Representatives from the Island Gateway Project on Highway 305 and Winslow Way will provide an overview on their signature downtown Winslow project at the Sept. 15 luncheon meeting of the Bainbridge Island Chamber of Commerce.
When: 11:30 a.m. Sept. 15
Where: Wing Point Golf & Country Club, 811 Cherry Ave. NE on Bainbridge Island.
Cost: $15.
RSVP: Call (206) 842-3700 or visit

Sept. 30
What: Habitat for Humanity of Mason County will have a grand opening Sept. 30 for its new Belfair store. There will be a ribbon-cutting, music, balloons for the kids, refreshments for all and the opportunity to win a new gas dryer. The Belfair store will offer new, gently used and surplus home improvement items including appliances, furniture, windows, tile, doors and more at pocketbook-friendly prices.
When: 11:30 a.m. Sept. 30
Where: 22653 NE Highway 3 in Shelton.
Info: Call the office at (360) 426-8134 or visit
Kitsap Sun staff