Dec. 16 / Employment here drops
Nonagricultural wage and salary employment in the Spokane area dropped to 220,400 in November, a decrease of 1,100 jobs from the November 2007 level, according to preliminary state figures. Preliminary figures from another state survey put the unemployment rate at 6.4 percent during November, up from 4.6 percent in the year-earlier month.

Dec. 16 / Gold Reserve attempts to block takeover
Gold Reserve Inc., of Spokane, said it's seeking an injunction in the Ontario Superior Court of Justice to prevent Vancouver, British Columbia-based Rusoro Mining Ltd., from proceeding with a takeover bid. On Monday, Dec. 15, Gold Reserve urged shareholders to wait for a recommendation from its board of directors on Rusoro's unsolicited offer of three shares of Rusoro for each Gold Reserve share or equity unit. Gold Reserve said it's pursuing legal action against Rusoro and its financial adviser, Endeavour Financial International Corp., because Endeavour also has provided advisory services to Gold Reserve.

Dec. 10 / Passenger numbers drop at SIA
Airline passenger numbers at Spokane International Airport fell 8.1 percent to 267,000 in October compared with the year-earlier month, though they increased 1.6 percent through the first 10 months of the year to 2.9 million. Air-cargo tonnage at the airport fell to 4,200 tons in October, down 13.2 percent compared with the year-earlier month, while for the year tonnage was down about 3 percent.

Dec. 5/ Sterling gets $303 million in bailout deal
Spokane-based Sterling Financial Corp. said it sold 303,000 shares of preferred stock to the U.S. Department of the Treasury in a $303 million deal intended to ensure the availability of credit to businesses and consumers through the bank. In return, the bank said it will pay Treasury a cumulative compounding dividend of 5 percent for the first five years and 9 percent after that. Sterling also issued Treasury a warrant that allows it to purchase 6.4 million shares of common stock at a fixed price of $7.06 per share.

Dec. 3 / Pearson Packaging buys Chicago company
Pearson Packaging Systems, a West Plains maker of packaging equipment, said it has acquired Goodman Packaging Equipment, a longtime Chicago-area producer of top-loading case packers. Pearson President and CEO Michael Senske said Goodman Packaging's manufacturing and assembly operations will be moved to Pearson's facility on the West Plains, but that Pearson will maintain an engineering, service, and sales support office in the Chicago area. He said the acquisition is expected to boost Pearson's revenue by $10 million over the next year, and that the company will add up to 15 people here.

Dec. 3 / 2009 county budget cuts 58 positions
Spokane County commissioners approved a $440 million 2009 budget that will include a general fund of $146 million and the elimination of about 58 positions, the county said. About 10 employees will be laid off and the rest of the job cuts will be through elimination of unfilled positions, retirements and attrition, and voluntary reduction of hours, said Martha Lou Wheatley-Billeter, a county spokeswoman.