Archive for April, 2011
I was going through Bellingham’s latest building permit data and found some interesting tidbits:
– Wal-Mart has applied for a permit to remodel the store. It’s a $927,652 project. It doesn’t list anything about expansion, just some updating to the current store.
– A sign permit application has been submitted for “The Market at Lakeway” at 1030 Lakeway Drive. That’s the shopping center currently undergoing a remodel that was formerly home to the Lakeway Cost Cutter.
– A tenant improvement permit was submitted for a new clothing store at Bellis Fair mall, called Pinky.
Government regulators closed five banks earlier this afternoon. Details below. I’ll do another post if any other banks are shut down before I leave the office:
No. 35-36: First National Bank of Miami and Cortez Community Bank of Brooksville, Fla. were closed. Both were then taken over by Premier American Bank of Miami. Estimated cost to the FDIC: $61.5 million.
No. 37-38: First Community Bank of Dallas, Ga. and Park Avenue Bank of Valdosta, Ga. were closed. Both were taken over by Bank of Ozarks of Little Rock, Ark. Estimated cost to the FDIC: $398.1 million.
No. 39: Community Centra Bank of Mount Clemens, Mich. was closed, then taken over by Talmer Bank & Trust of Troy, Mich. Estimated cost to the FDIC: $183.2 million.
I received a call from a reader wondering why Pro Tool closed and if it had moved. (It was at 2238 James St. in Bellingham near Trader Joe’s). I had missed that one in my regular checking around town for business openings/closings. Anyone have details about when and why it closed?
From The Associated Press:
The Federal Deposit Insurance Corp. said Friday that in March it lifted a May 2009 cease and desist order on Spokane-based AmericanWest Bank and directed Summit Bank in Skagit County to find new capital or a buyer.
AmericanWest Bank last year was bought in bankruptcy court by SKBHC Holdings and infused with $185 million in new capital. In the May 2009 enforcement order, regulators told the bank’s management to stop unsound banking practices, such as making lots of poor loans.
The FDIC order to Summit Bank in Burlington directs it to come up with fresh capital or sell itself to restore its capital to required levels.
Anderson Paper & Packaging Company of Ferndale will have a grand opening of its Earthcare Outlet Store, located at 5461 LaBounty Road, from 10 a.m. to 4 p.m. on Friday, May 20.
The addition of the Earthcare Outlet Store will provide the small business owner or homeowner the opportunity to purchase a wide range of products, previously not feasible due to the typically large quantities required for wholesale purchasing, according to a press release from the company.
The outlet store will provide the general public with the ability to purchase wholesale items with wholesale pricing but in manageable retail quantities. Products will include janitorial supplies and equipment, safety supplies, shipping and packaging supplies, and a selection of office supplies for home or business use.
At the grand opening there will be a barbecue from 11:30 a.m. to 1:30 p.m. featuring Hempler’s hot dogs and Pepsi products, along with door prize drawings throughout the day. Product vendors will also be on hand offering product demonstrations.
An official ribbon cutting ceremony, conducted by Ferndale’s Mayor Gary Jensen and attended by members of Ferndale’s Chamber of Commerce, will occur at 12:30 p.m.
Anderson’s product portfolio includes paper, packaging, janitorial, safety and office supplies. Founded in 1992, Anderson provides service throughout the Pacific Northwest, as far south as Tacoma and up into Western Canada.
A company in Tacoma is laying off a significant number of workers, according to the Worker Adjustment and Retraining Notification sent out earlier today by Washington’s Employment Security Department:
Company: Pinnacle Foods Group (Tacoma) will lay off 139 employees,
effective June 23, 2011
Date of Notification: April 26, 2011
Here’s a list of new and existing businesses that have registered in Bellingham between April 21-26. It’s listed by business name and address it is doing business:
DKDiesel Performance & Offroad, 2432 E Bakerview Road, Bellingham
Subway #49828, 21 Bellwether Way #109, Bellingham
Alfa Laval Inc., 5400 International Trade Dr Richmond, Va.
R & R Plumbing, 5694 3rd Ave., Ferndale
Battery Power Systems, 201 Frontage Rd N #A, Pacific, Wash.
Miranda D Barnett, 2825 Meridian St., Bellingham
Campus Pinch, 114 E Chestnut St., Bellingham
Below are some highlights from Allegiant’s first quarter report. The airline has some of its operations based in Bellingham:
– 14.4 percent operating margin.
– 33rd consecutive profitable quarter, 10th consecutive quarter the increase has been in double digits.
– Operating revenue for the quarter: $193.2 million
– While profitable, growth was slower than in previous quarters the past few years. “Our current capacity plans remain very constrained, all in an effort to manage through this period of rapid fuel price escalation. Once we believe fuel price increases begin to moderate, we expect to return our rate of growth to our historic norms,” said Maurice J. Gallagher Jr., CEO of Allegiant Travel Company in the report.
– Allegiant had 1.54 million passengers in the first quarter, up 7.2 percent year-over-year. The load factor was 89.6 percent last quarter, up from 88.2 percent a year earlier.
I spotted a press release from Technomic Inc. on a study about the Top 500 largest U.S. restaurant chains, which had some interesting information about growth.
Here are some basics:
– The top 500 largest U.S. restaurant chains posted an overall increase of 1.8 percent in sales between 2009 and 2010. Sales increased for those Top 500 to $234 billion in 2010 (up from about $230 billion in 2009).
– McDonald’s remained the top restaurant, followed by Subway. Starbucks moved up to third on the list, ahead of Burger King and Wendy’s.
What I found interesting was the top 10 fastest growing chains. Only two on the top 10 list have restaurants in Whatcom County (Five Guys and Panda Express). I feel out of the loop when it comes to fast food chains, because I only recognize half of those on this top 10 list. Any thoughts on which ones ought to be in Whatcom County?
1. Five Guys Burgers and Fries (up 38 percent in sales, 35 percent in units)
2. Jimmy John’s Gourmet Sandwich Shop (up 22 percent, 20 percent)
3. Chipotle Mexican Grill (up 21 percent, 14 percent)
The Bellingham office of the Washington State Department of Revenue is hosting a free workshop for new and small business owners from 1-4 p.m. on Tuesday, May 10, at the Washington State Patrol/Washington State Dept. of Transportation Conference Room, located at 3920 Airport Way (at turnoff to airport), in Bellingham.
Participants will learn about Washington excise taxes, reporting classifications, deductions, tax incentives, sales tax collection, and record-keeping requirements. All receive a workbook and reference guide to Department of Revenue rules and regulations.
To register, visit the Department of Revenue web site at this (link) or call 360-594-4840.