Archive of: Lakewood

Title Issue

Owners are no longer in denial about home values

American homeowners' perceptions of the value of their own homes moved more in line with reality at the end of 2008, at least when it came to hindsight. More than half believe their own home lost value during the year, according to the recent Zillow Homeowner Confidence Survey. This is markedly more than the 38 percent who believed their home's value was declining when asked during the second quarter of 2008.

February 2009

More counties added to disaster benefits roster

Workers in Grays Harbor and six other counties may now be eligible for disaster unemployment benefits if they lost their jobs or cannot work because of the storms and flooding that struck the region in January.
Residents of these counties have until March 11, to apply for the benefits. 

February 2009

State error that caused false refunds might cost businesses

Department of Labor and Industries officials say the agency has now corrected a duplicated line of computer coding that inflated the refund payments given to businesses through the state's Retrospective Rating Program.

That means businesses using the program will receive smaller refund checks beginning this month. And they might also have to pay back those refunds dating back to three years ago. The department is having state's attorney review the case, but three years is the maximum.

February 2009

Prosperity on Purpose event set for next week

The Tacoma Regional Convention & Visitor Bureau is one of six regional groups that have partnered to hold Prosperity on Purpose, a special event designed to stimulate Pierce County's business growth and market share.

"There is no better time to mobilize the community in building prosperity together," said Tammy Blount, president/CEO of the CVB. "This event offers an exciting opportunity to be proactive in generating business in 2009. Attendees can kick-start their sales and marketing strategies, create new relationships and maximize existing ones to produce win-win business deals."

February 2009

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
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