July 28 / Potlatch posts lower net
Potlatch Corp., of Spokane, reported second-quarter net income of $3.7 million, or 9 cents a share, from continuing operations, down from $18.9 million, or 48 cents a share, in the year-earlier quarter. The company said it recognized a tax benefit during the quarter of $5.8 million, or 15 cents a share, for renewable electricity it has generated and sold since 2005. Potlatch spun off its pulp and paper operations into Clearwater Paper Corp. in December.

July 24 / Air-travel passenger numbers, air cargo off here
Spokane International Airport reported that 276,000 passengers arrived and departed here in June, down 13.5 percent from its passenger count in the year-earlier month. SIA also said that 3,700 tons of air cargo was either shipped out or sent here during the month, down 17 percent from June 2008's tonnage.

July 23 / Sterling posts $33.9 million loss
Sterling Financial Corp. reported a second-quarter net loss of $33.9 million, or 65 cents a share, compared with net income of $11.7 million, or 23 cents a share, in the year-earlier quarter. For the first half of the year, Sterling reported a net loss of $58.7 million, or $1.13 a share, compared with net income of $14.6 million, or 28 cents a share, in the first half of 2008. The company said it remained focused on managing the challenges posed by a difficult economy, but was encouraged by its progress in achieving credit resolution.



July 22 / Ambassadors' net rises, but it's sued
Ambassadors Group Inc., of Spokane, reported net income of $19.2 million, or 99 cents a share, for the second quarter, up from $17.2 million, or 87 cents a share, for the year-earlier quarter. The company also said a class action had been filed against it in U.S. District Court here on behalf of buyers of its stock between Feb. 8, 2007, and Oct. 23, 2007. The suit alleges that the company and certain of its executive officers violated federal securities laws by making untrue statements about the company's stock or by omitting material facts about the stock, Ambassadors said. The company denied the allegations.

July 20 / Longtime Valley caf closes doors
Percy's Caf Americana, a longtime restaurant located at University City Shopping Center, in Spokane Valley, closed after losing its lease, owner Pat Kroetch said. She said she's looking for another location to reopen it. Her father, Percy Howell, opened "Golden Hour" at the U-City location in 1968, and in 1984, Kroetch bought it and renamed it Percy's in honor of her father, and later renamed it Percy's Caf Americana.

July 17 / Sacred Heart appeals state ruling
Providence Sacred Heart Medical Center & Children's Hospital asked the Washington state Department of Health to reconsider its denial of a certificate of need for 152 adult acute-care beds the hospital wants to add. In June, the department approved the hospital's request for 21 intermediate-care nursery beds, but didn't grant the addition of any new adult-care beds. The decision pertained to a roughly $85 million portion of a planned $175 million expansion project, but a hospital executive said earlier that if the ruling wasn't overturned, other parts of the project might not be able to proceed.

July16 / Coeur to sell interest in mine
Coeur d'Alene Mines Corp., of Coeur d'Alene, said it has agreed to sell back to Perilya Ltd., of Perth, Western Australia, its 100 percent interest in the Broken Hill mine, in Australia, for $55 million (Au.) in cash. Coeur d'Alene Mines said the sale would strengthen its balance sheet, enhance its liquidity, and contribute to its growth initiatives, such as its Kensington gold deposit in Alaska, where Coeur hopes to open a mine.

July 14 / City requires study for proposed whitewater park
The city of Spokane's planning services department ruled an environmental impact study will be needed for the proposed whitewater park on the Spokane River just west of downtown to address potential adverse impacts on fish habitat, maintenance and monitoring of the structure, and dewatering issues. The planning department is reviewing the project for a shoreline conditional-use permit that's required for the park to move forward. The city's parks and recreation department applied for that permit for the project.