Horizon Air flying larger aircraft out of Bellingham

Horizon Air began operating 70-seat aircraft on two flights a day between Bellingham International and Seattle on Sept. 1. They replace the 37-seat aircraft formerly used on all flights leaving Bellingham. Horizon also reduced the number of flights from eight to seven each day. Between the larger aircraft and service reductions, there are now 29 more seats available on Seattle-bound flights from Bellingham.

Horizon is the North America launch customer for the 70-seat Q400 turboprop, which is manufactured by Bombardier Aerospace of Canada.

 

Governor lauds WorkFirst

On the fifth anniversary of WorkFirst, the state released figures suggesting welfare caseloads are down 45 percent since the program began.

“In five years, WorkFirst has helped 138,000 parents leave welfare and stay off,” said Gov. Gary Locke. Locke said the program benefits business by reducing advertising and recruiting costs and offering tax credits for employers and training for employees.

The state set a five-year limit on receiving welfare case benefits when the welfare reform bill was introduced in 1997. Almost 1,400 families have remained on welfare for the past five years. Most will receive benefits beyond the five-year period either because they are unable to work, or because their job search has so far proved unsuccessful.

Future WorkFirst participants will be tracked by a computer system to ensure they remain active in the program.

 

State company seeks to forecast the market

Puyallup-based Bull Future is offering a new tracking service to help investors guide their way through the stock market. The company seeks to forecast stock performance like weather, using a specially designed algorithm. The company offers forecast information by subscription.

 

John L. Scott wins innovation award

John L. Scott Real Estate won the Inman Innovator Award for most innovative real estate company at a San Francisco conference. The company earned the award for, among other things, their Web site, which was the first real estate Web site in the Pacific Northwest to post photos of each property for sale.

 

New database integration software free for non-profits

Kirkland-based Core Logic Software is offering a new service evaluation program for integrating databases to the Internet free to non-profit groups.

Core Logic hopes to gauge market demand and potential value of this new software, which is designed to ease integration of pre-existing databases into the Web.

Currently, the company has worked with Densho: The Japanese American Legacy Project on a digital archive of research materials, including photos, video clips, documents and a multimedia curriculum designed with Stanford University. Densho is a Seattle-based non-profit organization dedicated to preserving Japanese American history.

 

Conservation groups wary of energy proposals

Save our Wild Salmon (SOS), a coalition of conservation organizations and fishing groups, is skeptical about new leasing arrangements for power produced by the Columbia and Snake River hydro systems.

The proposal would restructure power transmission over what is now the Bonneville Power Administration system, through a series of 20-year contracts. Changes are at the behest of federal regulators, who want to transform the power distribution system. The Federal Energy Regulatory Commission wants to set up a series of Regional Transmission Authorities to control transmission lines, substations and other equipment. Independent utilities and the BPA would surrender control to an RTO, which would be the only entity with control over distribution.

SOS is worried that a new series of contracts will do nothing to mitigate the effect that power generation continues to have on salmon. They believe the changes fail to address the relationship between power generation and salmon protection and increases pressure on the river systems to produce power. They are also worried that new plans will simply settle for management techniques that have failed, in their minds, to protect salmon stocks.

 

Frontier Financial posts record second quarter profit

Frontier Financial Corp. reported second quarter earnings of $9.1 million, up from $8.4 million in the second quarter of 2001.

The bank credits an increase in net interest income, improved efficiency and “enhanced fee income” for the rise in profits.

Frontier officials are restructuring their balance sheets to increase profits. This means they are focusing on better performing and less costly to maintain investments.

“We don’t anticipate a resumption of vigorous economic expansion during the balance of this year,” said Bob Dickson, president and CEO of Frontier Financial. “Therefore, more emphasis will be placed on enhancing fee income, improving efficiency and concentration on credit quality.”

 

MedZilla.com aligns with BioSourceLink.org

MedZilla.com, a Marysville-based Internet recruitment and professional community, has partnered with BioSourceLink.org, an online resource for life science professionals. Under the agreement, visitors to the BioSourceLink site will be able to access MedZilla content, including job listings and a resume database.

Representatives from both BioSourceLink and MedZilla said the alliance was natural because of both organizations’ focus on life sciences.

Joel Idelson, formerly a biotech recruiter, started BioSourceLink earlier this year. Frank Heasley formed MedZilla in 1994.

 

Small business organization ranks Washington in top 10

The Small Business Survival Committee ranked Washington State as the eighth most friendly small business climate in the nation.

“The Small Business Survival Index compares how government in the states treat small businesses and entrepreneurs,” said Raymond J. Keating, SBSC chief economist and author of the study.

The index measures 20 major government-imposed or government-related costs that impact small business, including many types of taxes, health care costs, electricity costs, workers’ compensation, crime rates, right to work, number of bureaucrats, and state minimum wages.

Washington ranks well because of the lack of personal income, capital gains, corporate income and added death taxes. In addition, the state ranks favorably in terms of health care costs and number of bureaucrats. However, the study points out that Washington carries the heaviest burden of sales, gross receipts and excise taxes and ranks poorly in terms of unemployment tax, workers’ compensation costs, the crime rate and gas taxes.

However, Carolyn Logue, Washington state director for the National Federation of Independent Business, said the top ten finish is misleading.

“The only reason our state ranks as highly as it does in the index is because of our lack of state income tax,” she said, in a statement. In other significant tax categories, she said the state ranks at or near the top of the country.

“One thing is clear: 9/11 and the dot-com bust can no longer be excuses for Washington’s dismal economic record. There are very serious structural problems with our state’s economy.”

One problem she cites is the state’s minimum wage law.

“The minimum wage is an entry-level salary,” Logue said. “Despite what proponents of increasing the minimum wage rates would have you believe, only a minuscule number of families depend on the minimum wage as their sole source of income.

“Small business abuse should be a crime,” Logue said.

“The best policy environment for entrepreneurship consist, of low taxes, restrained government spending and regulation and government fulfilling its duty of protecting life, limb, and property,” Keating said. “When it gets its policy mix right, a state is well positioned to compete both nationally and globally.”

The top five states, according to the index are South Dakota, Nevada, Wyoming, Texas and Florida. The bottom five are New Mexico, Minnesota, Maine, Hawaii and the District of Columbia.

 

Finance executives say they’re happy

A recent RHI poll found most chief financial officers are happy with their companies. In fact, 36 percent of CFOs say they hope to stay in the current position and almost one-third hope their next career move will be retirement.

Less than 10 percent of CFOs hope to start their own companies and only 12 percent hope to become a CEO.

“Finance professionals typically aspire to the position of CFO for an organization, so it’s not surprising to see high levels of job satisfaction among executives in this role,” said Paul McDonald, executive director of RHI Management Resources.

However, many senior financial professionals are baby-boomers and already making plans for retirement.

“As this trend gains momentum, there will be a greater demand for senior-level financial professionals to fill these vacancies,” McDonald said.

 

Weiss recommends four steps for choosing a brokerage firm

Weiss Ratings, a ranking agency for brokerage firms, has released four recommended steps when investors select brokerage firms. Recommendations are part of a larger report, Crisis of Confidence on Wall Street, addressing the run of bad corporate news that has depressed the stock market.

Step 1: Investigate the firm’s integrity.

Investors can use the National Association of Securities Dealers Regulation Web site (www.nasdr.com) to find information about individual brokers. Entering a brokerage firm name will bring up a report listing private and regulatory legal action against the firm.

Weiss Ratings has produced a study ranking the top 18 brokerage firms in the US for the period 1997 - 2001. Their study suggests Prudential Securities and Ameritrade rank worst in terms of legal actions brought against them. Fidelity Brokerage Services, Credit Suisse First Boston and Edward D. Jones ranked best.

Step 2: Check on the firm’s financial stability.

Investors should make sure they know if the firm has adequate capital or is exposed to excessive risk or legal action. According to Weiss, the least stable brokerages are Ameritrade, Merrill Lynch Pierce Fenner and Smith, and Credit Suisse First Boston. More stable brokerages include A.G. Edwards, Edward D. Jones and Fidelity Brokerage Services.

Step 3: Check on the firm’s track record before relying on a broker’s advice.

Check brokerage firm’s current or past ratings on particular stocks using a Web based financial information site, such as finance.yahoo.com or www.stockselector.com. Because conflict of interest can result in self-serving ratings, investors should make sure broker’s recommendations have a good track record. Weiss found that 47 brokerage firms gave “buy” or “hold” recommendations on firms that failed in the first four months of 2002. Salomon Smith Barney did not issue sell warnings of eight companies that went bankrupt, while their “hold” ratings remained public for some companies right up until they filed for bankruptcy. By contrast, Edward D. Jones didn’t recommend shares in failing firms and even was proactive about warning customers of impending trouble.

Step 4: Shop around for the best commissions.

Commissions can make a big difference to a portfolio. According to the Weiss report, high commissions can wipe out a $100,000 account in nine years, even with consistently profitable trades. Lower commissions can help the same account grow to over $208,000 in ten years. Merrill Lynch Pierce Fenner and Smith, UBS Painewebber and Salomon Smith Barney charge the highest commissions as full service firms. Fidelity Brokerage Services, TD Waterhouse Investor Services and Ameritrade are discount or online firms and charge the lowest commissions.

 

Whidbey Island Bank second quarter earnings up

Washington Banking Company, the holding company for Whidbey Island Bank, reported a 28 percent increase in second quarter earnings for 2002. Net income was $1.4 million, up from $1.1 million in second quarter of 2001.

Michael D. Cann, president and CEO of WBC, attributed the earnings increase to portfolio quality. “In addition to our ongoing portfolio review, we have strengthened our underwriting standards,” he said.

While the company appears close to hitting their targets for 2002, they do not intend to raise those targets. Instead, they expect the cost of expansion to help level out performance levels. Whidbey Island Bank is building a new loan production office in Smokey Point/Arlington, building two new buildings to relocate the Camano Island branch and seeking to lease office space for a Fairhaven branch in Bellingham.

 

South Sound seminar addresses financing

Financing Options for the Small Business Owner is a seminar presented by the Small Business Administration, the Washington State Office of Trade and Economic Development and the Better Business Bureau. In September, the seminar is in DuPont.

“This event is designed to help [small business owners] evaluate their small business financing needs and to help them gain access to the capital they need,” said Bob Meredith, SBA Seattle district director.

The program includes a panel of local financing experts talking about traditional and alternative sources of capital, and onsite lenders fielding questions about loans and sources of capital. Attendees are encouraged to bring their businss plans and loan proposals for one-on-one assistance.

 

Survey shows workers prefer temporary work to start

Almost half of the workers polled in a recent survey said a temporary assignment is the best way to assess whether a candidate is qualified for a job. Only 30 percent said the interview provided the best insight and only 12 percent said the reference check is best.

 

Trillium, Windermere merge RE sales forces

Semiahmoo Resort Properties, the real estate sales arm of Trillium Corporation in Blaine, has merged with Windermere Real Estate for the marketing of properties at Resort Semiahmoo.

As a result of the merger, Windermere will exclusively list and market a number of Trillium-owned development projects in Whatcom County. The Semiahmoo office is recruiting new agents in addition to retaining the agents working for the former Semiahmoo Resort Properties.

The operation will be overseen by Dan and Sharon Washburn, owners of the Windermere office at Semiahmoo as well as Windermere offices in Bellingham and Lynden. Jeff Johnson, former managing broker for Semiahmoo Resort Properties, will continue as the Trillium liaison with Windermere, helping to supervise sales efforts on all Trillium-developed projects.

Windermere currently captures about 19 percent of the market share in the Blaine/North Whatcom county area. The acquisition of Semiahmoo Resort Properties gives Windermere an instant market share of approximately 30 percent and a branch location in Semiahmoo.

 

WWU small business Unit honored by SBA

Western Washington University’s Small Business Development Center has received the “Million Dollar Club Award” from the U.S. Small Business Administration in recognition of its outstanding contribution toward small business assistance.

The award is given to small business support centers across the country that provide technical assistance to businesses which collectively invest $1 million or more through expansion during a one-year period.

A total of $8.9 million was invested by businesses assisted through the SBDC programs last year. During the past five years the organization has assisted small businesses that have invested a total of $22 million in Whatcom County.

The Small Business Development Center, located at 119 N. Commercial St., Suite 195, offers confidential counseling, primary and secondary research, conferences and seminars for business owners and managers.

The U.S. SBA provides primary funding for the center through Western Washington University. Other financial support comes from the Cities of Bellingham and Sumas, WWU, the State of Washington and through donations.

 

BPA financial woes force possible cuts

The Bonneville Power Administration (BPA) is facing a financial crisis brought on by higher costs and a reduction in its revenues. The agency markets power generated by federal dams on the Columbia and Snake rivers.

BPA conducted a series of public hearings in August to gather public input on its options. It is considering five possible approaches to addressing its financial problems:

• Raise rates under current rate mechanisms;

• Reduce costs and a smaller rate increase;

• Raise rates modestly and face possibility of missing Treasury payments;

• Borrow money to pay current expenses;

• Reset rates at a higher, flat level.

Some environmental organizations are already worrying that significant BPA budget cuts would fall heaviest on programs like salmon restoration, renewable energy and energy conservation.

 

Icicle Seafoods to farm out its re-packing needs

Icicle Seafoods of Bellingham is getting out of the re-packaging business and hoping to transfer that function to Bellingham Cold Storage (BCS). Icicle has asked BCS to come up with a proposal to handle its salmon, halibut and crab processing needs in Bellingham.

In an announcement, Icicle emphasized that it will remain in the seafood business, but will no longer handle the re-packaging process itself.

BCS has been working with Icicle on a plan to provide the processing service and continue to handle approximately 10 million pounds of seafood products at the waterfront facility in Bellingham.

Doug Thomas, BCS president and CEO, said he was hopeful that an agreement might be reached with Icicle, which had previously leased its pre-packing facility from BCS.

“We have been working with Icicle to provide a scenario whereby the required services continue to be handled here at BCS,” said Thomas. “If the transition is successful, BCS would take over much of the equipment and quite likely seek to employ several of the skilled Icicle employees to conduct the same business.”

Icicle will continue to operate their surimi plant, located at the BCS Orchard Street Complex. The surimi plant employees approximately 150 people and produces about 20 million pounds of artificial crab products a year.

BCS is the largest portside cold storage on the West Coast, with over one million square feet of freezing, storage and processing facilities and more than 350 customers in the seafood, agriculture and food-processing business.

 

Experimental concrete could reduce surface drainage

Ferndale Ready Mix and Gravel has installed a demonstration driveway project at a Bellingham home that uses a concrete product that allows water to percolate through its surfaces, reducing runoff to storm sewers to a low level. The project, announced by the Building Industry Association of Whatcom County, could “reduce or eliminate the need for expensive storm drains and subterranean story sewer systems,” the association said.

“Dealing with storm water runoff is of heightened concern in watersheds, fish and wildlife habitats, estuaries and other sensitive lands,” the association said in a recent announcement.

The project at the home of Chris Huff, 1615 14th St., in the Fairhaven district, uses “pervious” concrete. It is believed that the new kind of concrete mixture can trap oils and polluting chemicals that would otherwise flow into storm drains and pollute ground water and estuaries.

However, it is to be noted that pervious concrete is not generally recognized in local building codes and to date builders have not received any consideration in the permitting process by using this material.

 

Economic development unit seeks new president

The Bellingham/Whatcom Economic Development Council (EDC) announced that it is seeking “a highly motivated individual” for the position of president.

The EDC said its ideal candidate is an excellent communicator, effective manager and decision maker, strategic thinker and has the ability to affect change and provide direction in program planning as well as proven leadership ability.

The new EDC president must be able to develop partnerships with private business, organizations and government agencies. Applicants should send resumes by Sept. 15 to:

Search Committee, EDC, 105 E. Holly St., Bellingham, WA 98225. The organization’s email address is: rafeeka@bwedc.org.

 

Clean energy industries get boost from governor

Washington State is positioning itself to be an international leader in the development and promotion of clean energy industries. Gov. Gary Locke has announced the formation of the Northwest Energy Technology Collaborative, a voluntary effort of business, government, industry and educational institutions to further that goal.

The organizing group includes Lea Cheatham, director of the Washington Technology Center; Michael J. Weedall, vice president for energy efficiency, Bonneville Power Administration; Mike Lawrence, association laboratory directory, energy division, Pacific Northwest National Labs; Patrick Tam, director of Spokane Intercollegiate Research and Technology Initiative; and Tony Usibelli, assistant director of the state Department of Commerce, Trade and Economic Development.

Locke announced the new program at a press conference last month in Spokane.

 

Sunnyside Food Pavilion completes major remodel

Bellingham-based Brown & Cole Stores has opened its newly remodeled Sunnyside Food Pavilion in the Yakima Valley. The former $ave-On-Food$ store was refurbished in a $3.1 million project.

Kevin Hathaway, manager of the Sunnyside store, said extensive customer surveys were performed before any plans were finalized.

In its recent grand opening the store highlighted new departments, such as a full service pharmacy, a bilingual staff, a Dollar Store and a bulk foods section which includes pinto beans, chili pods, peanuts in the shell and spices.

Also included is El Mercado, a “store-within-a-store” that features many favorite brands from Mexico.

 

Deal with state AG gives PSE gas customers a break

Under an agreement reached last month with the state Attorney General’s office most Puget Sound Energy natural gas customers will see a decrease in their monthly bills beginning this fall.

The agreement, which must be approved by the Washington Utilities and Transportation Commission (WUTC), calls for a 6.6 percent increase in residential rates, reflecting higher gas delivery charges.

However the agreement also calls upon the company to adjust the amount it charges for the natural gas itself to reflect a drop in market price.

The exact amount is still undetermined, but the Attorney General’s office expects that cost decrease to more than offset the rate hike.

The proposed rate increase, affecting PSE’s business, industrial and residential consumers, would provide the company with a revenue boost of $35.6 million a year, well below the $82 million increase the company originally sought, the Attorney General’s office said.

 

Conseco Insurance debt picture called ‘weak’

Weiss Ratings, Inc., has lowered its investment rating on the Conseco Group of insurance companies to “very weak.” The Florida-based rating service said it was further reducing the insurance company’s ratings from a previous rating of “fair-to-weak” because of its high level of debt incurred during a period of aggressive acquisitions.

Since June, 1991, Weiss has never rated any of the Conseco subsidiaries higher than “fair” due to what the rating service considers to be Conseco’s “risky investment policy and its high level of debt, the servicing of which is an impediment to strong capital growth.”

 

Trottner’s Auto Repair logo – ‘thing of beauty’

Dave Trottner, owner of Trottner’s Auto Repair, is glowing over the new sign created for his shop by friend and customer Tod Johnson. The sign, displayed in front of the shop at 2005 Kentucky, in Bellingham, was created in ironwork.

It is a close replica of Trottner’s long-time company logo, an old-time racing carriage pulled by a classic trotter horse. The sign stands nine feet tall and includes a wrought iron base that can accommodate four large hanging flower baskets.

Johnson took on the Trottner sign as his first major project in what was a major career change.

 

Consignment shop adds more floor space

Consign America has increased its floor space to 6,000 square feet in an effort to provide more room to display quality used home furnishings. Owners Len and Jackie Jaggers said that the additional space will provide customers with a larger variety of furniture, art, collectibles and antiques from which to choose.

The larger space will also provide consignors with more opportunities to sell their goods. The shop is located in Bellingham at the corner of James and Alabama streets.

 

Enhanced data system available to RE brokers

Northwest Mulple Listing Service (NMLS) has developed an enhanced, web-based data system to assist buyers and sellers of real estate when working with brokers who are part of the system.

Kirkland-based NWMLS had been operating both a dial-up and web system for the past several months while planning and testing dozens of service enhancements. On July 22, the company officially retired its Compass dial-up system, unifying its members under a single, web-based database, known to its users as Locator.

Jack John, president and CEO of NWMLS, said the upgrade offers numerous benefits to consumers, even though they cannot access the information directly. The password-protected database contains information on nearly 30,000 active residential listings (mostly located in its 13-county service area), as well as searchable records on nearly 450,000 properties that members entered into the system during the past several years.

Users can search the database using numerous criteria, including price ranges, location, dwelling type and style, number of bedrooms and other property features and amenities. The system also allows users to exclude properties from search results using specified criteria. For example, if parents of infants and toddlers don’t want to consider homes with swimming pools, their agent can check an “exclude” box to eliminate those listings.

Other options on an “Agent Preferences” form make it easy for users to customize the system to save time and keystrokes. The system also allows users to generate Comparative Market Analysis reports as well as property history summaries and various statistical reports and charts and graphs.

Johnson said more than 1,350 member companies and approximately 15,200 licensed brokers and agents share property information through the NWMLS database.

 

Bellingham has several board openings to fill

Bellingham Mayor Mark Asmundson is seeking applicants for several open positions on city boards, committees and commissions. Interested parties can get an application from the mayor’s office at City Hall, 210 Lottie Street, second floor, or print one off the city’s web site at www.cob.org by following the Mayor’s office link.

Here are the panels for which applicants are sought:

Bellingham Sister Cities Advisory Board, two vacancies, one appointed by mayor, one by the board itself.

Bicycle and Pedestrian Advisory Committee, three vacancies.

Board of Code Appeals, one vacancy.

Building Services Division Advisory Board, in process of being formed. There are vacancies for a residential building contractor (BIAW member), a commercial contractor (BIAW or AGC member), and a specialty mechanical or plumbing contractor.

Community Development Advisory Board, two vacancies.

Downtown Parking Commssion, two vacancies.

Landmark Review Board, one vacancy.

Mayor’s Neighborhood Advisory Commission, one vacancy.

Public Works Advisory Board, three vacancies, all for architect and surveyor positions.

Watershed advisory Board, five vacancies on just-organized panel.

Whatcom Museum Society Board, one vacancy.

 

Bellingham PD wants citizens for academy

The Bellingham Police Department is now accepting applications for the Fall Citizen’s Academy 2002. The academy is a 13-week program designed to help citizens increase their understanding of how the police department works.

The academy includes courses on patrol, K-9, firearms, proactive policing, drugs, gangs, SWAT. The courses are taught by police officers with expertise in those areas.

To apply for the academy, citizens must be at least 18 years of age and must live or work in Bellingham. They must also commit to attending all of the training sessions. Applications can be obtained in the front lobby of the Bellingham Police Department during business hours or can be copied from the department’s web site at www.cob.org/police.

 

Study shows TV viewers misinterpret storm warnings

A professor at Western Washington University has concluded that television viewers in hurricane-prone areas often do not understand the difference between a hurricane watch and a warning, overestimating the time they have to prepare.

WWU psychology professor David Sattler interviewed 378 students at the College of Charleston, SC, which was struck in 1989 by Hurricane Hugo and has had repeated hurricane threats.

Sattler’s study showed that the students tended to overestimate the time they had to prepare when viewing currently used hurricane warning TV graphics. Sattler said there is a need for clearer and more meaningful graphics in broadcasting storm warnings.

His study, “Hurricane Preparedness: Improving Television Hurricane Watch and Warning Graphics,” was published in the International Journal of Mass Emergencies and Disasters.