Over in the Politics blog, Jared Paben put up a post about bills being presented that would either suspend the minimum wage increases during periods of high unemployment or be adjusted for restaurant staff that receive tips. Here’s the (link)
It’s still early in the session, but it’ll be interesting to see if either bills get much traction.
From The Associated Press:
Starbucks Corp.’s fiscal first-quarter profit increased 10 percent as the coffee company added stores, customers and new products.
The Seattle-based company reported after the market closed Thursday that it earned $382.1 million, or 50 cents per share, for the quarter that ended Jan. 1. That’s up from $346.6 million, or 45 cents per share, in the same quarter last year.
Its total revenue increased 16 percent to $3.44 billion.
A few items I noticed while starting to put together my Sunday retail column…
– According to its Facebook page, the Beach Store Cafe on Lummi Island (near the ferry dock) has closed. The owners thanked the community for its support for the past three years and said it was closed until further notice.
– Dickey’s Barbecue Pit in Lynden (8082 Guide Meridian) will soon be opening. The construction is done and now it’s down to the final inspections, said Owner Cheri Benson in an email.
From the Employment Security Department:
OLYMPIA – Washington employers will collect a record $56 million in 2011 federal tax credits because they hired certain hard-to-place job seekers.
The Work Opportunity Tax Credit provides up to $2,400 in tax savings per worker to businesses that hire military veterans, the disabled, ex-inmates, food-stamp recipients and individuals who receive Supplemental Security Income. Additionally, businesses that hire long-term welfare recipients can save as much as $9,000 per person over two years.
In 2012, businesses can enjoy even greater tax savings for hiring veterans, including up to $5,600 for long-term unemployed veterans and as much as $9,600 for those who have a service-connected disability.
With some economic data driving down the U.S. dollar, the loonie reached parity with the U.S. dollar for the first time in 2012. Here’s a (link) to a Reuters article providing some details. According to the article, experts expect the Canadian dollar to hover around parity for the next couple weeks.
From Washington State Labor & Industries:
The state Department of Labor & Industries (L&) is extending its quarterly filing deadline for State Fund employers to submit their workers’ compensation premiums from midnight Jan. 31 to midnight Feb. 3. Employers will be allowed this extra time because of the recent snow storm that shut down businesses in much of the state.
“So many businesses were hard hit by loss of power and access to computers during last week’s ice storm,” said Beth Dupre, Assistant Director for Insurance Services. “Many lost several days of productive work. It’s our hope that this extension will help our customers as they recover from this disruption.”
If employers file electronically or by mail and pay by check, they may deduct the penalty and interest from the total due. If employers file and pay electronically, they should pay the full amount due, but the penalty and interest will be credited to their account and available for the next filing quarter. It can also be refunded upon request.
The fastest way to file is at www.QuickFile.Lni.wa.gov. No password is required and employers can pay with paper or e-check, sign up for an email reminder, and print out a copy of their report. For access to account details, employers can file through the online Claim & Account Center.
Here’s a (link) to an article in The Province about Vancouver’s plans for a $1.8 billion remodel. Included in this article is how it will be partially paid for - A $5 fee per ticket, which starts in May.
According to the article, one of the goals for the remodel is to position Vancouver as even more of a gateway to the Asian market.
Whatcom County’s unemployment rate took a big jump between November and December, but it may have more to do with how these rates are calculated than a big shift in the local economy.
The preliminary report indicates Whatcom’s unemployment rate was 8.1 percent in December, up from a revised rate of 7.3 percent in November, according to the state Employment Security Department. Whatcom’s December rate was about the same as a year earlier, when the rate was 8.2 percent.
Between November and December, Whatcom County lost 1,200 non-farm jobs, according to the report. However, even though the unemployment rate is about the same as last December, the non-farm sector added 1,000 jobs since last December.
Given that nothing big happened between November and December in the local labor force, it’s possible the preliminary December rate is too high, said Reinhold Groepler, a regional labor economist for the state in a report accompanying the data. He expects the December rate to be revised to about 7.6 percent, consistent with seasonal factors and year-over-year non-farm job growth.
The number of people actively seeking work last month was 8,360 last month, up 790 compared to November, according to the report. Last month’s number was actually down by 350 people compared to December 2010.
I’ll have further details later today on the Herald’s home page.
Here’s a news release about Allegiant establishing some new flights through Oakland. I’ll check to see if it impacts Bellingham in any way.
OAKLAND, Calif. —Allegiant announces the establishment of a new base of operations at Oakland International Airport as of April 26, 2012.
The company will base two 166 seat, MD-80 series jet aircraft at the airport and create jobs for approximately 60 people including: flight attendants, pilots, mechanics and airport service personnel. In conjunction with the base, Allegiant will begin new, nonstop air service to the Bay Area from seven markets. The carrier will offer introductory fares as low as $29.99* one-way, including taxes and fees, to the following cities from Oakland International Airport:
Billings, Mont. – begins April 26 with fares as low as $39.99 each way
Bozeman, Mont. – begins April 27 with fares as low as $39.99 each way
Kalispell, Mont. – begins April 27 with fares as low as $39.99 each way
Idaho Falls, Idaho – begins April 27 with fares as low as $39.99 each way
Medford, Ore. – begins April 26 with fares as low as $29.99 each way
Missoula, Mont. – begins April 27 with fares as low as $39.99 each way
Redmond, Ore. – begins April 26 with fares as low as $29.99 each way
Flight days and times can be found at allegiant.com.
News release for business owners:
Gov. Chris Gregoire has asked the Washington State Department of Revenue to grant tax return filing extensions to Washington businesses affected by the recent winter storm.
“The heavy snowfall and freezing rain resulted in road conditions and power outages that clearly affected the ability of some businesses to file their state excise tax returns on time,” Gregoire said. “I have asked DOR to grant filing extensions to these businesses, and to waive penalties for those unable to meet the deadline. This request won’t impact the state’s tax collections. It merely pushes it back a bit to give our business owners who need it a much needed break.”
Revenue Director Brad Flaherty said businesses need to request the extension prior to the Jan. 25 due date for monthly filers or the Jan. 31 due date for quarterly and annual filers.
“We realize this is short notice for monthly filers. A business that is not able to request an extension prior to the due date may still request a penalty waiver for late filing penalties due to circumstances beyond their control,” Flaherty added.
Businesses should call the Department at 1-800-647-7706 to request an extension. Penalty waivers must be requested in writing and can be submitted in the department’s electronic filing system or emailed to communications@dor.wa.gov.
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