Archive of: Thurston County

Title Issue

Venture CEO in talks with investors

The Federal Deposit Insurance Corp. made public Friday a directive requiring Venture Bank to raise more capital or sell itself by April 14.

"The regulators like the use of deadlines - they love them," said Jim Arneson, Venture Bank's president and chief executive officer. "This is one of many that have been discussed. We're continuing to work, and we're encouraged by the interest that's been shown by investors."

March 2009

Venture Bank under extreme scrutiny

A "corrective action directive" issued by Federal Deposit Insurance Corp. in February and made public on Friday imposes severe controls on Venture Bank of Lacey. The order gives it until April 15 to raise additional capital by selling new shares of stock or accept the sale of Venture to another bank.

Senior management officials of Venture Financial, the holding group that controls Venture Bank, did not provide a response to the development Friday, nor say whether it had exercised its right to appeal the "Supervisory Prompt Corrective Action Directive" in February.

March 2009

Around the Sound

"Breakfast with Congressman Adam Smith," co-sponsored by the City Club of Tacoma and the Chamber, is set for Wednesday at 7:30 a.m. at the Landmark Convention Center.

Bayview School of Cooking Director Nancy Hebb will illustrate the versatility and magic of the yellow citrus jewel in her daily cooking regimens in the class "When Life Give You Lemons" on April 14 at 6 p.m. at Bayview, on the second-floor mezzanine of Bayview Thriftway in downtown Olympia. Visit www.BayviewSchoolofCooking.com.

Looking for ways to bump up your business' bottom line? The City of Tacoma's Community and Economic Development Department wants to help you learn how to do just that. At "Reboot your Business: Finding Opportunities in the Present Economy," a free Economic Gardening workshop, speaker Tina Janni will provide insights on how business owners can navigate through economically turbulent times and position their businesses for future success. Tacoma business owners can choose between two free sessions: April 16 between 5:30 and 7:30 p.m. or April 17 between 8 and 10 a.m. The workshops will take place at Bates Technical College in the Clyde Hupp Board Room, located at 1101 S. Yakima Ave. Participants should enter through the courtyard on South 12th Street. For more information, e-mail cclifford@cityoftacoma.org.

March 2009

State takes action against health care workers

The Washington State Department of Health has revoked or suspended the licenses, certifications, or registrations of these health care providers in the South Sound.

March 2009

Recovery Act doubles small business bond guarantee

Small businesses that need surety bonds to compete for construction and service contracts may qualify for U.S. Small Business Administration-backed bonds of up to $5 million. The higher amount, a result of the recently approved federal Recovery Act, is more than double the previous $2 million maximum surety bond guaranteed by SBA.

Through SBA's Bond Guarantee program, SBA guarantees bid, payment and performance bonds. Surety bonds protect the project owner against financial loss, if contractors default or fail to perform.

March 2009

GET Enrollment tops 100,000

While wrapping up a record enrollment year for Washington's Guaranteed Education Tuition Program, or GET, state officials confirmed yesterday the 100,000th enrollment in the nation's fastest growing prepaid tuition plan.

New accounts are up 21 percent from last year, with just days left until the March 31 enrollment deadline, said Betty Lochner, director of GET.

March 2009
Clarion Hotel begins exterior remodel

Clarion Hotel begins exterior remodel

The new owners of the Clarion Hotel in downtown Olympia, have just finished a full remodel of the facility's meeting and banquet space and have already begun the full exterior remodel work.

March 2009

Port traffic to pick up soon

The 2009 Marine Cargo Forecast released by the Washington Public Ports Association and the Washington State Department of Transportation, states the current downturn in container cargo imports is temporary, and that cargo for most commodity types is expected to increase significantly during the next 20 years. Port of Tacoma handles the most containerized traffic in the state.

March 2009

Frontier signs FDIC deal for changes

Frontier Financial Corp. has signed an agreement with the Federal Deposit Insurance Corp. and State of Washington Department of Financial Institutions that changes its lending policies, administration and management. The cease and desist order was the result of an examination conducted by governmental regulators last year.

March 2009

Blog Watch: money matters

The AWB has a few items about ways to view the state's budget shortfall and how it can be fixed.

March 2009
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