July 24 / Clearwater Paper's earnings fall

Clearwater Paper Corp., of Spokane, reported second-quarter net income of $11.7 million, or 52 cents a common share, compared with earnings of $21.5 million, or 91 cents a share, in the year-earlier period. Net sales for the latest quarter were $471 million, down from $473.6 million in the year-earlier quarter. President and CEO Linda Massman said the company's new tissue facility in Shelby, N.C., is ramping up consistent with its expectations, and the company expects its earnings before interest, taxes, depreciation, and amortization (EBITDA) to increase substantially in 2014.



July 24 / Potlatch's net income jumps

Potlatch Corp., of Spokane, reported second-quarter net income of $19.2 million, or 47 cents a diluted share, up sharply from $5.1 million, or 13 cents a share, in the 2012 second quarter. The company said it had revenues of $133.2 million in the latest quarter, up from $117.5 million in the year-earlier period. President and CEO Michael Covey said all of the company's business segments had strong operating results, despite continuing weakness in lumber prices and seasonality of log-harvesting activity, and its wood-products segment had its best quarter in almost a decade.



July 23 / Employment here rises

About 211,600 people held nonagricultural wage and salary jobs in the Spokane area in June, up by 3,200 from the June 2012 level, but down 800 from May this year, preliminary state figures said. Preliminary results from another state survey put the unemployment rate here at 8.1 percent during June, down from 8.5 percent in the year-earlier month.



July 22 / Commissioners approve ballot tax measure

Spokane County Commissioners approved placing a property tax-increase measure on the Nov. 5 election ballot that would pay for removal of low-income residences near Fairchild Air Force Base, which had raised development-encroachment concerns. The measure would assess county property owners up to 6.5 cents per $1,000 of assessed valuation, equating to $13 a year on a $200,000 home, for a period of up to nine years. Proceeds from the tax increase could be used only for things such as the purchase of residential property there and the relocation of residents to protect Fairchild, the county's largest employer, the resolution said.



July 18 / Avista takes hit from generator failure

Avista Corp., of Spokane, said a generator failure at a Montana coal plant will force it to buy about $12 million worth of replacement electricity this year. Avista owns a 15 percent interest in two units at the Colstrip generating plant in the southeastern part of the state, and one of the units' generators broke down July 1. Repairs are expected to take at least six months to complete and to cost about $30 million, with that cost to be shared proportionately among all of the owners. Avista said it will replace the lost electricity through purchases on the wholesale market.



July 18 / Seattle bank to buy BofA branches

Washington Federal Inc., Seattle-based parent company of Washington Federal, said it has agreed to buy 51 Bank of America branches, including 19 in Eastern Washington, in all representing about $1.8 billion in deposits and $11 million in loans. The acquisition, expected to close in the fourth quarter, will boost Washington Federal to a total of 236 branches in eight Western states.



July 16 / Galena silver mine cuts workforce

U.S. Silver & Gold Inc. said it was laying off about a third of its employees at the Galena Mine in North Idaho due to falling silver prices. The company said it was cutting 126 of 351 employees at the Galena Mine Complex, near Wallace. Producing an ounce of silver at the mine costs about $16, and silver prices have dropped from about $30 an ounce to about $20 this year, cutting into profitability, the company said.