Jan. 12 / Sterling hit with class-action suit
Seattle-based law firm Hagens Berman Sobol Shapiro LLP said it and Pennsylvania-based Brodsky & Smith LLC filed a class-action lawsuit in U.S. District Court alleging that Sterling Savings Bank and its Spokane-based holding company, Sterling Financial Corp., failed to protect employees' investment in company stock through the company's 401(k) plan. By maintaining a large investment in company stock long after the stock became an imprudent investment, Sterling and other defendants failed to properly manage pension funds, the suit alleges. A Sterling spokeswoman said the company will defend its actions vigorously.

Jan. 11 / Avista's Washington customers could see bill cut
Avista Corp., of Spokane, said electricity rates for its 232,000 Washington customers will fall by an overall 7 percent beginning Feb. 12 if the Washington state Utilities and Transportation Commission approves a request the company filed Jan. 8 to eliminate an energy cost surcharge. The surcharge is designed to recover, or rebate to customers, extraordinary changes in certain power supply costs that are above or below the amount included in base customer rates. If the request is approved, a residential customer using an average of 1,000 kilowatt-hours of electricity a month would see a $5.35 decrease in their monthly bill, to $71.79 from $77.14, and commercial customers also would see an average 7 percent decrease, Avista says.

Jan. 11 / Spokane Airways prevails in court, files claims
Spokane Airways filed claims with the Spokane Airport Board, Spokane County, and the city of Spokane, seeking $4 million to $8 million in damages, plus about $500,000 in attorney fees and related costs, for unlawful condemnation of buildings it had occupied at Spokane International Airport. The filings followed a decision by the state Supreme Court not to review lower-court rulings that the condemnation was improper.

Jan. 6 / Bankruptcy filings up here, in North Idaho
Bankruptcy filings in the U.S. Bankruptcy Court's Eastern District of Washington rose to 7,234 in 2009, up from 5,507 filings in 2008. In the district, the number of filings hit a high of 11,506 in 2005, then dropped sharply to 3,350 filings after changes in bankruptcy laws were enacted and have been rising steadily since then. Meanwhile, in the Coeur d'Alene court of the U.S. Bankruptcy Court's Idaho District, preliminary reports indicate that filings rose to 1,214 in 2009, up from 744 in 2008.

Jan. 4 / Spokane Valley council terminates city manager
The Spokane Valley City Council voted to terminate its contract with City Manager Dave Mercier. The council voted 5-2 to approve a motion by Councilman Bob McCaslin to terminate Mercier's contract in a no-fault separation. Mercier gave his resignation at the meeting and is on paid administrative leave until Feb. 5.

Dec. 23 / Avista rate hikes approved
The Washington state Utilities and Transportation Commission approved rate increases for Spokane-based Avista Utilities electric customers of 2.8 percent, or $12.1 million a year, and for the utility's natural-gas customers of 0.3 percent, or $557,000. The company had sought an electric rate increase of $37.5 million and a natural-gas rate increase of $4.9 million. The company expressed disappointment. The commission approved a rate of return on equity of 10.2 percent for the company. Avista had sought an 11 percent return.

Dec. 23 / Fire guts Arbor Crest mansion
A fire gutted the historic Arbor Crest Cliff House mansion, at 4705 N. Fruitland Road, damaging the interior extensively and destroying its antique furnishings. Jim van Loben Sels, general manager at Arbor Crest Wine Cellars & Nursery Inc., which owns the mansion, said the winery hopes to restore the 1920s-era structure to its original condition. The fire is believed to have been caused by a problem with an electrical source, such as a surge protector, van Loben Sels said.