Business

Business
7:42 am
Wed May 30, 2012

Can Seattle sustain another major sports venue?

Could a new basketball and hockey arena hurt ticket sales for other teams in the city? That’s what some King County officials are worried about. The fear is that Seattle could end up with too many big-time sports teams and that there wouldn’t be enough entertainment dollars to go around.

Fake drugs
6:54 pm
Tue May 29, 2012

Fake Adderall pills hit the market

If the label of ingredients on the Adderall pack says "singel entity," that's a tip-off for trouble.
FDA/Flickr

Originally published on Wed May 30, 2012 5:48 am

A shortage of Adderall began last year, sending millions of people with attention deficit/hyperactivity disorder and narcolepsy on perpetual wild goose chases to find drugstores with the pills they need to stay alert and focused.

So it's not surprising that Adderall counterfeiters have seized a big marketing opportunity. What is surprising is their clumsiness.

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NPR Tech/Business
2:48 pm
Tue May 29, 2012

Facebook stock falls another 9 percent

Originally published on Tue May 29, 2012 1:52 pm

Facebook's stock fell $3.07 to end the day at $28.84. That's first time it's fallen below $30 since the stock went public.

That price is also 24 percent below its opening price of $38.

The Wall Street Journal that the drop had to do with negative sentiment about the stock, as well as the fact that today traders were able to trade on derivatives.

The Facebook stock saw so much trading, the Journal reports, that it triggered Nasdaq's short sale circuit-breaker.

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Economy
8:39 am
Mon May 28, 2012

Alaska Airlines tries do-it-yourself luggage tagging

Alaska Airlines will try out a new do-it-yourself luggage tagging system at SeaTac. Photo courtesy Alaska Airlines

Originally published on Fri May 25, 2012 4:49 pm

Alaska Airlines is trying out a new luggage-tagging system at SeaTac Airport. It relies on customers using new kiosks to weigh their own bags and print out and attach labels.

Travelers still must drop off luggage with agents and show I.D. But airline spokeswoman Bobbie Egan says the change should save some time. She says Alaska and its sister carrier Horizon tried out the system last year in Bend.

"We wanted to roll it out very slowly so that we could work out any kinks and basically interact with our customers and find out how they like it."

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Salmon virus
9:56 am
Sat May 26, 2012

Virus found in Washington fish farm; stock killed

BAINBRIDGE ISLAND, Wash. — A deadly fish virus detected in Washington state waters for the first time has forced a salmon fish farm to kill its entire stock.

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Air travel
9:35 am
Sat May 26, 2012

Delayed at the airport? They're working on it

An air traffic controller works at the Atlanta TRACON, or terminal radar approach control, facility in Peachtree City, Ga. The FAA's NextGen program will modernize the air traffic control system, transforming it from radar to GPS-based technology.
David Goldman AP

Originally published on Sat May 26, 2012 7:52 am

When the summer travel season begins, airline passengers typically brace for delays as vacationers fly in larger numbers and the inevitable weather-related disruptions occur.

The Federal Aviation Administration, which oversees the nationwide system of air traffic control, is hoping to make some of those delays a thing of the past. It's developing what it calls "Next Generation" technology. The NextGen program will modernize the air traffic control system, transforming it from radar to GPS-based technology.

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Amazon shareholder meeting
2:30 pm
Thu May 24, 2012

'Huge victory' - Amazon drops ALEC, will spend millions on AC

Protesters gathered in front of the Seattle Art Museum where Amazon held its annual shareholder meeting.
Ashley Gross KPLU

"Today we saw a huge victory..."

Michelle Wilson, a Senior Vice President at Amazon, told shareholders at the company’s annual meeting today in Seattle that Amazon would drop its support for the controversial group ALEC because the public policy organization had made decisions unrelated to Amazon’s business.

Jeff Bezos, Amazon's founder and CEO, also told shareholders that the company would spend $52 million to add air-conditioning to its packaging facilities this year.

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Business
8:16 am
Wed May 23, 2012

Update: Seattle joins state in sinking floating billboards

The proposed signs can be seen on Lake Washington in this screen grab from KING 5.

The state Transportation Department has torpedoed a proposal for floating billboards on Lake Washington in Seattle.

The company's owner said he'll pursue other Seattle waters. However, the Seattle Times reports the city of Seattle says no deal.

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protesting wall street
4:48 pm
Tue May 22, 2012

In a season of protests, Amazon prepares for annual meeting

In this photo from Working Washington website, protesters give Amazon a taste of what the group hopes will be a big day for them, and the company.

With the Occupy Seattle protests having morphed into a movement targeting banks and companies that protesters believe do not live up to progressive ideals, the local protest movement self-dubbed “Working Washington” says it will be at Amazon’s annual shareholder meeting Thursday in force.

And, with continual protests focusing on its Seattle offices, as Seattle tech blog Geekwire reports, the company is warning protesters to stay off its property.

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Facebook IPO
9:12 am
Fri May 18, 2012

Facebook's shares rise at opening, then dip toward $38 initial price

Emmanuel Dunand AFP/Getty Images

Originally published on Fri May 18, 2012 1:03 pm

  • Steve Henn talks with Steve Inskeep on 'Morning Edition'

Facebook's much-publicized first sale of stock to the public started with a bang late this morning as the price per share jumped. But though the volume of shares sold was a record for an initial public offering, the stock's price gave up its gains as the day continued.

By the end of trading in the U.S., Facebook had settled right at the $38 initial offering price that had been set before shares went on sale.

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The Two-Way
7:09 am
Fri May 11, 2012

JPMorgan 'rogue trader' losses send chills through markets

Originally published on Fri May 11, 2012 8:46 am

"It was a bad strategy. It was badly executed."

The words of JPMorgan Chase's CEO, Jamie Dimon, as he admitted late yesterday that the investment bank — or, more precisely, a single "rogue trader" working for the bank, had lost some $2 billion in the last six weeks in risky hedge-fund trades.

The news has sent chills through the markets. Shares of JPMorgan Chase, the largest U.S. bank, lost 7 percent in after-hours trading and British bank Barclays lost 2.9 percent, while more than 2 percent was shaved from Royal Bank of Scotland.

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Amazon
5:24 pm
Thu May 10, 2012

Warehouse workers protest at Amazon corporate offices

Former Amazon warehouse worker, Karen Salasky, addresses protesters at Amazon headquarters.
Paula Wissel KPLU

Amazon will be having its annual shareholder meeting in Seattle on May 24 and Seattle area unions are gearing up. Today, they staged a protest in the plaza below Amazon's new headquarters buildings in the South Lake Union neighborhood.

It was something of a forerunner to a rally planned for the upcoming meeting.  Several union activists carried signs that read,

"Hello, Amazon, see you on May 24."

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Cruise ships
12:05 pm
Mon May 7, 2012

Cruise ships sailing from Seattle to Alaska down from 2010 peak

ms Oosterdam at Smith Cove Cruise Terminal in Seattle
Peter McGraw Port of Seattle

The number of cruise ships sailing to Alaska from Seattle remains down from the peak of two years ago.  In 2010, 223 ships made the trip.  This year, 202 ships will sail from Seattle.  It's a slight uptick from last year when 196 ships used Seattle as a homeport during the summer Alaska cruising season.

The Port of Seattle says  revenue from the cruise business remains strong .

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Business
12:54 pm
Thu May 3, 2012

Facebook sets $28 to $35 price range for IPO

NEW YORK — Facebook has set a price range of $28 to $35 for its initial public offering of stock.

At the high end, this could raise as much as $11.8 billion. That's much higher than any other Internet IPO in the past, even Google Inc. in 2004.

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May Day protests
5:20 pm
Wed May 2, 2012

Mayor: Safety trumped vandalism in May Day response

All that remained of May Day protests around Westlake Center on Wednesday were a few boarded up windows and lingering questions around why the violence had to break out when the vast majority of demonstrators were peaceful.
Erin Hennessey KPLU

City leaders in Seattle are thankful there were no serious injuries yesterday – only property damage. Mayor Mike McGinn says he regrets the vandalism, but he says officer safety and the safety of bystanders were his highest priorities.

The mayor and his police chief held a show-and-tell news conference today to highlight the variety of weapons they confiscated during the May Day demonstrations.

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