Sept. 22 / BNSF seeks abandonment of rail line in Idaho
The Idaho Public Utilities Commission said there were no objections at a public hearing on Fort Worth-based BNSF Railway Co.'s proposed abandonment of a 6-mile section of rail line between Post Falls and Coeur d'Alene. BNSF's request notes that a master plan for the area includes expansion of education institutions, commercial, wholesale, retail and residential development, as well as the creation of parks and trails.
Sept. 21 / Sterling shareholders authorize more stock
Sterling Financial Corp., of Spokane, announced that its shareholders voted to approve an increase to 750 million shares, up from 100 million shares, in the total number of shares of the company's common stock that its board is authorized to issue. Sterling, which owns Sterling Savings Bank, said in a proxy statement that it could issue additional shares to meet future business and financing needs.
Sept. 21 / AmericanWest share price falls out of Nasdaq compliance
AmericanWest Bancorporation, of Spokane, said it received notice that the minimum bid price of its common stock had fallen below $1 a share for 30 consecutive business days, putting it out of compliance with Nasdaq rules. The company said it could regain compliance if its stock closes at $1 per share or higher for a minimum of 10 consecutive business days by March 15, or Nasdaq could tell the company in a subsequent compliance period that its stock was subject to delisting.
Sept. 21 / L&I proposes average 7.6 percent rate hike
The Washington state Department of Labor and Industries proposed an average 7.6 percent general rate increase in workers' compensation premiums for next year. L&I in June said preliminary numbers showed a 15 percent to 20 percent increase might be necessary for next year. L&I Director Judy Schurke said the state "pushed this proposed increase down to the lowest possible level given the uncertain state of our recovery from this deep recession."
Sept. 17 / Group seeks levy to cut dropout rate
Children's advocates here formed a political action committee to urge the Spokane City Council to ask voters to approve in April 2010 a levy of 35 cents per $1,000 of assessed property value for creation of a $5 million fund that would pay for programs aimed at reducing the 8 percent annual high school dropout rate here. Ben Stuckart, a member of the committee, said the Spokane City Council will decide within the next two months whether to put the measure on the April election ballot.
Sept. 15 / Commissioners reopen jail-site review
Spokane County commissioners reopened the site-selection process for a proposed new jail. Commissioners had earlier picked a jail site near the county courthouse, but decided to revisit the issue because Sheriff Ozzie Knezovich said the cost estimate to construct a jail tower there had risen to $265 million, compared with $229 million for a horizontal structure built elsewhere. Knezovich also said he and six members of his command staff will forgo raises to help reduce the number of potential job cuts in his department due to county budget pressures.
Sept. 15 / Whitworth president to step down
Whitworth University President Bill Robinson announced he will step down at the end of the academic year. During his 17-year tenure, enrollment at the Presbyterian Church-affiliated private university has grown 60 percent to 2,675 students, and campus improvements have exceeded $83 million. The university said it had launched a nationwide search for its next president, and Robinson had agreed to serve until a new president is in place.