Archive of: Lakewood

Title Issue

Patriot Express loans top $250 million

In just 20 months, the U.S. Small Business Administration's Patriot Express Pilot Loan Initiative has approved more than $250 million in loan guarantees to nearly 2,900 veterans and their spouses who are using the SBA-guaranteed funds to establish and expand their small businesses.

The Puget Sound SBA office has processed 79 loans with a gross amount of $7,868,100.

More than 20 percent of the loans offered around the nation have come in the first four months of fiscal year 2009, and overall loan amounts have averaged around $88,000 per loan. Some 15 percent of the loans have gone to military spouses.

February 2009

COFFEE BREAK: Stimulus responses

The Business Examiner asked readers of the BE Daily on Wednesday to voice their thoughts on the various stimulus packages that have already passed or are currently under discussion. Will they work? Are they wastes of taxpayer dollars? Are they too little, too much? Here are some of those responses:

February 2009

Weyerhaeuser posts fourth quarter loss

Weyerhaeuser Co. has reported a net loss of $1.2 billion for the fourth quarter, or $5.73 per share, on net sales from continuing operations of $1.8 billion. Last year, Weyerhaeuser reported a fourth quarter net loss of $63 million, or 30 cents per share, on net sales from continuing operations of $2.5 billion.

February 2009

Job losses in building underlines need for action

The latest report on job losses in construction-related industries underscores the urgency of passing a job-boosting economic stimulus package focused on infrastructure, said Ken Simonson, chief economist for The Associated General Contractors of America.

February 2009

Venture reports fourth-quarter profit, year-over-year loss

Venture Financial Group, parent  company of DuPont-based Venture Bank, today announced a net loss of $21.4 million during 2008, compared to net income of $11.8 million during 2007. Though Venture lost money year-over-year, its fourth-quarter earnings were better than those of the previous quarter. The bank's net income during the fourth quarter was $1.4 million.

The losses of 2008 came as a result of the government conservatorship of  Freddie Mac and Fannie Mae, said bank Jim Arneson, president and CEO. As previously announced, the bank incurred an other-than-temporary impairment charge of $40.1 million during the third quarter of 2008 due to the conservatorship. During the fourth quarter, Venture sold its position in Freddie Mac and Fannie Mae preferred shares to recover the tax benefit. In conjunction with the sale of the preferred  shares, the bank took an additional loss in the fourth quarter of $1.5 million, bringing the total loss $41.6 million.   

"We took our big hit during the third quarter, and we lost money on the year, but the fourth quarter was profitable," Arneson said. "Capital is increasing, and we're looking to the future."

February 2009

Coalition forming to protect infrastructure spending

Pierce County Executive Pat McCarthy and Port of Tacoma Executive Director Tim Farrell are assembling a coalition of business and government leaders to preserve regional transportation funding that is under threat as the state and federal budgets work their way through the political roadway.

The coalition will be the topic of a RAMP meeting tomorrow morning at 8 a.m. at the Fabulich Center, at 3600 Port of Tacoma Road. RAMP, the Regional Access and Mobility Project, is a gathering of transportation-minded leaders from the South Sound that seeks improvements to the area's roadway and railways.

February 2009

People on the move

Ray LaForge, the former owner of Olympic Outfitters has been named the Olympia Downtown Association's Person of the Year. LaForge sold his 40-year-old, downtown business to Alpine Experience last year. LaForge was active in the association as well as having served as its president in 2003. One of the former owners of Wind Up Here, Paul Seabert, was named ODA's Volunteer of the Year.

February 2009

Business startup class set for Thurston

In the current uncertain economy, unemployment is steadily on the rise so many are looking at starting their own business around the South Sound. Business assistance centers are seeing a spike in client visits.

February 2009

State's economy depends on small business, study finds

Washington's economic recovery will depend on small business. That message is driven home in the newly updated Washington Small Business Profile released today by the Office of Advocacy of the U.S. Small Business Administration. The most recent data show that the state has 147,948 small employers, and they employ 98.2 percent of the state's workforce.
"Washington depends on small business for jobs and economic growth," said Shawne McGibbon, Acting Chief Counsel for Advocacy. "During this time of financial stress and economic instability, policymakers need to remember that the state's small businesses provide the economic base for its families and communities."

January 2009

Around the Sound

The Fife Regional Chamber of Commerce Employer Solutions Committee, which encompasses the communities of Milton, Edgewood, Fife, and the Port of Tacoma, is kicking off their 2009 topical series on Tuesday, Jan. 27. This month's 90-minute seminar luncheon, "How to Choose a Retirement Plan that Makes Sense for Your Business," will feature Stephanie McClain of Edward Jones. The luncheon will begin at 11:30 a.m. at Rushforth Construction at 6021 12th St. E, Suite 100 in Fife. To make your reservation, call the Fife Regional Chamber of Commerce at (253) 922-9320 no later than 11 a. m. on Jan. 26. Space is limited.

Ali Vincent and Devin Alexander of TV's "Biggest Loser" will come to Tacoma for "Do Something Healthy 10," which will be held Thursday, Jan. 29 at the Greater Tacoma Convention and Trade Center, 1500 Broadway in Tacoma. The presentation is sponsored by the MultiCare Center For Healthy Living and hosted by John Curley from KING-TV's Evening Magazine. The event will begin at 5:30 p.m. with a health fair and screening, followed by a YMCA Zumba dance-based fitness demonstration at 6:15 p.m. Vincent and Alexander will share their personal journeys to health and fitness at 7 p.m.  Pre-registration is required and tickets are $15. To register for Do Something Healthy 10 or to find out more about Pierce County's Biggest Winner and Million Minute Mission, go to, or call 1-800-485-0205. 

January 2009
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