Kitsap Business and Economy

Friday Dow Slips 63 Points

rachel pritchett — Fri, 19 Mar 2010 17:42:23 +0000

to settle at 10,715 so far today.

Did Boeing, Lawmakers Count Out EADS Too Soon on Tanker Deal?

rachel pritchett — Fri, 19 Mar 2010 17:41:48 +0000

PARIS (AP) — Aerospace and defense company EADS said Friday it is considering a new bid for a $35 billion Pentagon contract for midair refueling tankers but it will only compete if it has a fair chance against rival Boeing Co.
A consortium of EADS and Northrop Grumman pulled out of the bidding for the long-awaited, 179-tanker contract earlier this month. They said the terms of the deal appeared designed to favor a smaller jet offered by Boeing.
But Thursday, the Defense Department “indicated it would welcome a proposal from EADS North America as prime contractor for the KC-X tanker competition,” according to a statement Friday from EADS. It called the move “a significant development.”
EADS, the parent company of Airbus, said it would consider bidding again if it is given an extended deadline to prepare a new proposal — and, crucially, “if there is a fair chance to win.”
EADS and its American partner, Northrop, were initially awarded the contract for the tanker fleet in 2008, but Boeing protested and the deal was annulled later that year.
The withdrawal of the Northrop-led consortium left Boeing as the only bidder.

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Sterling Financial Reaches Deal

rachel pritchett — Thu, 18 Mar 2010 22:56:55 +0000

SPOKANE, Wash. (AP) — Sterling Financial Corp. of Spokane has reached a tentative deal with the U.S. Treasury and a potential investor in its battle for survival.
In a complicated plan months in the making, the Treasury would accept a steep markdown on the $303 million that it invested in Sterling only 15 months ago.
The company would raise an additional $650 million in capital from new investment. Sterling would also repurchase $238 million in trust-preferred securities for which it is offering 20 cents per $1 face value.

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Construction Community, Now’s the Time to Upgrade Your Green Certs

rachel pritchett — Thu, 18 Mar 2010 21:29:10 +0000

If you’re an unemployed construction worker, look soon for my story about some new green certification classes Olympic College will begin offering this spring. It’s another tool in the toolbox.

Rachel Pritchett

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Walgreens: No New Washington Medicaid Patients

rachel pritchett — Thu, 18 Mar 2010 19:57:45 +0000

SEATTLE (AP) — Walgreens has told Washington state officials that it will no longer fill prescriptions for new Medicaid patients as of April 16 because it isn’t being reimbursed enough by the state.
The Deerfield, Ill,-based drugstore chain, which has 121 pharmacies in Washington, says it will continue to serve its existing Medicaid patients, but can’t take on additional losses due to reductions in the state’s payments.
State Medicaid director Doug Porter tells The Seattle Times that Medicaid recipients should be able to easily find another pharmacy, and the state will help them locate one if needed.

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Thursday Dow Rises

rachel pritchett — Thu, 18 Mar 2010 19:54:26 +0000

So far today, it’s up 43 points, approaching the end of the day at 10,777.

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Anyone Miss Paper Transfers?

rachel pritchett — Thu, 18 Mar 2010 19:53:32 +0000

Bloggers,

I attended a meeting at the Bremerton Salvation Army about adjustments everyone’s having to make with the ORCA card, the regional tansportation card.

One problem continues to be Kitsap Transit’s lack of paper transfers. For those without an Orca card, they must pay the $2 fare each and every time they transfer buses. That can be a very expensive trip across town.

I didn’t hear any solution coming anytime soon.

Give me a call with you opinion.

Rachel Pritchett, reporter, 475-3783

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Frontier Bank Under 90-Day FDIC Deadline

rachel pritchett — Wed, 17 Mar 2010 21:27:41 +0000

Bloggers,

Following Frontier Bank’s revised 4Q net losses of $70 million, the FDIC has given the Everett-based bank 90 days to raise capital or find a merger.

Frontier has offices all over Kitsapland, with the biggest in Poulsbo, across the street from the new Liberty Bank. See the Puget Sound Business Journal piece on Liberty at:

http://seattle.bizjournals.com/seattle/stories/2010/03/15/daily20.html

Rachel Pritchett

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Brewery and Pub Opening in Manette

rachel pritchett — Wed, 17 Mar 2010 21:05:35 +0000

It’s called Der Blokken Brewery and Pub at 111 Perry Ave., in the old August Wynn establishment, known to others as the former nuclear-laundry building.

I just toured the facility run by Andrew and Jessica Husted, and it’s quite impressive. They’re doing a soft opening these next two evenings, then do a grand opening on Friday and Saturday. See my story soon at kitsapsun.com.

Rachel Pritchett

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Tour of Architects This Weekend on the Island

rachel pritchett — Wed, 17 Mar 2010 17:45:15 +0000

I love this event … Rachel

http://www.tourofarchitects.com/

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