May 29 / Davenport Hotel acquires Hotel Lusso
The Davenport Hotel Inc., which operates the Davenport Hotel & Tower at 10 N. Post in downtown Spokane and is owned by Walt and Karen Worthy, said it had bought the four-story boutique Hotel Lusso, located across Sprague Avenue at 1 N. Post, from Joe and Mary Dinnison, for an undisclosed sum. The Hotel Lusso offers 48 guest rooms and about 4,000 square feet of meeting space. The separately owned 360 restaurant and Cavallino Lounge, which occupy space in the building, will continue as tenants there, said Davenport spokesman Tom McArthur.
May 29 / Itron announces stock offering
Itron Inc., the Liberty Lake-based maker of automated meter-reading technology, announced last week the sale of 2.75 million shares of its common stock. The last reported sale price of its common stock a day earlier as reported by the Nasdaq was $55.81 a share. The company said it expects to use about $125 million of the net proceeds from the sale of the shares to repay a portion of its outstanding nonconvertible debt and the rest for general corporate purposes. Closing of the offering was expected to occur on or about Wednesday, June 3, the company said.
May 29 / SIA passenger, cargo numbers decline
A total of almost 238,000 airline passengers arrived at and departed from Spokane International Airport in April, a 17 percent decrease from the total in the year-earlier month, the airport said. Inbound and outbound air-cargo tonnage at SIA fell to 3,834 tons in April, a decrease of 16.2 percent from April 2008.
May 29 / Cd'A office project planned
Construction of a six-story office building to be called The Plaza on Sherman, at the east end of downtown Coeur d'Alene, could start late this summer and take a year to complete, said Boise-based developer VIQ Development LLC. Lease rates for the planned building overlooking Coeur d'Alene are set at $22 to $25 per square foot with terms of three to 10 years, VIQ said.
May 27 / Coldwater Creek posts loss
Coldwater Creek Inc., of Sandpoint, posted a net loss of $7.6 million, or 8 cents a share, for its fiscal 2009 first quarter ended May 2, compared with a net loss of $9.2 million, or 10 cents a share, in the year-earlier quarter. Its quarterly net sales dipped 6.3 percent. The company said it expects a smaller second-quarter loss, and it remains committed to cutting expenses.
May 27 / Deaconess to discontinue level II trauma care
Deaconess Medical Center said it won't renew its level II trauma designation with the Washington state Department of Health this fall and will stop offering major trauma care. The hospital decided to take that action after receiving notice that Providence Sacred Heart Medical Center & Children's Hospital, with which it currently shares the designation on alternating weeks under a joint operating agreement, will begin offering those services every day this fall, Deaconess spokeswoman Christine Varela said. Varela said only 1 percent of emergency room cases fall into the category of level II traumas.
May 23 / Airport to get $4 million CERB loan
The Community Economic Revitalization Board said it will award Spokane International Airport a $4 million loan for the engineering and construction of an about 48,000-square-foot hangar for the operation of two aerospace businesses. The airport originally had requested $6.8 million for the estimated $11.6 million project, and is considering ways to reduce the cost, SIA spokesman Todd Woodard said. The airport would contribute $1 million to the project, and the businesses, Cascade Aerospace USA and Associated Painters, each would contribute $2 million, Woodard said.
Subscribe today to our free E-Newsletters!SUBSCRIBE