Archive of: Thurston County

Title Issue

GOP says, 'worry about jobs, too'

Republican state Rep. Ed Orcutt, a member of the Revenue Forecast Council and ranking member of the House Finance Committee, said today's weaker revenue forecast shows Washington is still troubled.

"The governor needs to do more than shed a few state jobs; she needs to shed state regulations that are leading to more and more people being unemployed," said Orcutt.

September 2009

New state revenue forecast down

As required by law, the state's economist, Arun Raha, Ph.D., issued his updated revenue forecast for the current two-year budget cycle, and again tax collections are falling behind estimates.

The September forecast for the 2009 to 2011 biennium is $29.6 billion, which is $230.9 million less than was expected in June. Of that decrease, $109.6 million is attributable to weaker than forecast spending by consumers.

September 2009

Price set for Heritage stock offer

Heritage Financial Corp. announced Wednesday evening the pricing of its new underwritten public offering of 3.7 million shares of its common stock.

The stock in the holding company for Heritage Bank goes to market at a price of $11.50 per share. The company expects net proceeds of approximately $40.5 million after deducting underwriting discounts and commissions and estimated offering expenses. This new capital 

September 2009

Fate of Venture Financial remains unclear

While operations return to "normal" at offices that were Venture Bank branches before last Friday when state Department of Financial Institutions took over the DuPont-based bank, the future of the bank's holding company remains uncertain.

"Venture had more than $57 million in state and local government deposits - a fact that underscores the importance of the Public Deposit Protection reforms" imposed this year, said Washington State Treasurer James McIntire. "As unfortunate as it is to see a local financial institution fail, it is comforting to know that safeguards now in place helped facilitate a smooth transition to new ownership with First-Citizens Bank & Trust Company."

September 2009

Blog Watch

Friday will be International PARKing day, according to details at Look for some downtown Tacoma parking spaces to be replaced with a park-like atmosphere.

The Washington State Labor Council blog links to the national story of President Obama's visit to the AFL-CIO convention. He reportedly said he's committed to the same goals as the union movement: restoring the economy, getting health care for everyone and passing the Employee Free Choice Act.

September 2009

Soft market pulls property valuations down

A slowing real estate market influenced property assessments that are being mailed to Thurston County property owners on Friday.

The 2009 assessed value of real property countywide is $28.174 billion, which includes $514 million in new construction. However, removing the value increase due to that new construction, the overall decrease in real property's assessed value is $1.24 billion.

This is the second consecutive year that Thurston has had a drop in assessed values, with the decline in assessment year 2009 being greater than the reduction in 2008.

September 2009

Coffee Break: bank angst

With last week's fall of Venture Bank, the Business Examiner would like to know how safe you feel about your banking relationship.

Share your thoughts by commenting to this question by clicking the Read Article/Comment link below. Responses run on Friday.

September 2009

Heritage Financial offering stock

Heritage Financial Corp. of Olympia has commenced an underwritten public offering of approximately $35 million of its common stock. The net proceeds from the offering will be used to support opportunistic acquisitions, organic growth and general corporate purposes.

September 2009

PSE wins national 'Green Power' award

With more than 24,000 residential and business participants throughout Western Washington, Puget Sound Energy's Green Power Program was named Utility Green Power Provider of the Year by the 2009 Green Power Leadership Awards.

The awards, co-sponsored by Center for Resource Solutions, U.S. Department of Energy and U.S. Environmental Protection Agency, serve to recognize the leading actions of organizations, programs, and individuals that advance the development of green power sources.

September 2009

Building products pricing creeps up

After nearly one year of decline, prices for construction materials rose 1.0 percent in August, according to today's Producer Price Index report by the U.S. Labor Department.

Despite the increase, on a year-over-year basis, construction materials prices are down 7.4 percent.

September 2009
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