Nov. 18 / Employment here falls
Nonagricultural wage and salary employment in the Spokane area fell to 220,200 in October, a decrease of 300 jobs from the October 2007 level, according to preliminary state figures. Preliminary figures from another state survey put the unemployment rate at 5.8 percent in October, up from 4.1 percent in the year-earlier month.

Nov. 12 / Ponderay Newsprint withdraws lawsuit
Ponderay Newsprint Co., of Usk, Wash., said it has withdrawn a suit it filed against the Pend Oreille County Public Utility District over the utility's plan to replace four turbines to satisfy a federal relicensing agreement for its Box Canyon Dam. The company anticipates the $126 million cost of the turbine replacements and other upgrades would increase the plant's power costs by almost $8 million a year, said Tom Garrett, Ponderay Newsprint's human resources manager. Ponderay Newsprint withdrew the suit to encourage discussion of possible alternatives to the planned turbine replacements that it's proposing, Garrett said.

Nov. 12 / Malls' owner eyes restructuring debt
General Growth Properties Inc., the Chicago-based owner of the NorthTown, Spokane Valley, and Silver Lake malls, said in a regulatory filing it might consider negotiating a restructuring of its debt, possibly under court supervision, to deal with billions of dollars worth of maturing obligations that it might not be able to refinance or repay. The company, the second-largest owner of U.S. malls, said it anticipates significantly increased risk in 2009 that its malls' tenants will fail because of economic conditions, reducing both its revenues and the values of its properties.

Nov. 5 / Red Lion's quarterly net dips
Red Lion Hotels Corp., of Spokane, reported third-quarter net income of $4.4 million, or 24 cents a diluted share, compared with $5.8 million, or 29 cents a share, in the year-earlier quarter. The company reported total revenues for the quarter of $56.9 million, up 4.3 percent from last year, primarily due to the addition of two hotels, in Anaheim, Calif., and Denver.

Nov. 5 / Potlatch closes mills temporarily
Potlatch Corp., of Spokane, announced temporary closures of some of its mills, including its plywood plant in St. Maries, Idaho, and a sawmill in Lewiston, due to poor market conditions. Production was halted at the St. Maries plant Nov. 10 through Nov. 17 and will be stopped again Nov. 24 through Dec. 1. The Lewiston mill closed Nov. 10 and will resume production Dec. 1, Potlatch said, adding that its Post Falls particle board plant, which closed earlier, will remain closed until orders increase.

Nov. 4 / Hecla reports loss
Hecla Mining Co., of Coeur d' Alene, reported a third-quarter loss of $7.2 million, or 5 cents a share, down from net income of $12.3 million, or 10 cents a share, in the year-earlier quarter. For the first nine months of 2008, Hecla recorded a loss of $39.5 million, or 31 cents a share, compared with net income of $44.6 million, or 37 cents a share, in the first nine months of 2007. The company attributed the quarterly loss to a dramatic drop in the price of silver and increased production costs.

Nov. 4 / Kaiser posts quarterly loss
Kaiser Aluminum Corp., of Foothill Ranch, Calif., announced a third-quarter net loss of $22.1 million, or $1.11 a diluted share, compared with net income of $24.8 million, or $1.22 a share, during the year-earlier quarter. Net income for the first three quarters of the year was $39.4 million, or $1.95 a share, down from $76.6 million, or $3.83 a share, in the year-earlier period. Kaiser blamed the financial downturn partly on declining metal prices, a production outage in Wales, higher energy-related costs, and operating inefficiencies.