Money – MyNorthwest.com Seattle news, sports, weather, traffic, talk and community. Tue, 22 Apr 2025 15:57:24 +0000 en-US hourly 1 https://wordpress.org/?v=6.8 /wp-content/uploads/2024/06/favicon-needle.png Money – MyNorthwest.com 32 32 AT&T leaves Redmond Town Center as companies shrink their Seattle-area footprint /local/att-redmond-town-center-seattle/4078675 Tue, 22 Apr 2025 13:19:06 +0000 /?p=4078675 AT&T Inc. is departing its corporate office in Redmond in the latest major company exodus from the region, according to a .

AT&T, the third-largest telecommunications company, occupied an approximate 73,000 square-foot space in the Redmond Town Center, located at 7277 164th Ave. NE.

It is unknown if AT&T plans to relocate locally, as of the reporting. 成人X站 Newsradio and MyNorthwest have reached out to AT&T for comment.

Simultaneously, according to the CBRE report, AT&T has shrunk its staff significantly over the last five years. Once contracting 247,800 employees in 2019, AT&T reduced its staff to 140,990 by 2024.

The departure of major companies from Seattle

This departure coincides with a lot of tech companies readjusting their workspaces. Google announced it was shuttering its four-building campus in Seattle鈥檚 Fremont neighborhood last month, transitioning its employees to its South Lake Union offices, while Salesforce shrank its office space in Bellevue by roughly 20%.

Warner Bros. Discovery decided to move its Seattle-based staff to a smaller office in Bellevue. Disney renewed its Seattle lease, located within the Fourth & Madison Tower, earlier this year, but not without reducing the space needed from 170,000 square feet to 121,600鈥攁n approximate 28% reduction.

Last week, the streaming giant Netflix moved in the opposite direction, acquiring office space for its employees in the Madison Centre in Seattle.

According to The Puget Sound Business Journal, T-Mobile has let go of or offered to sublease entire buildings along the I-90 corridor near its Bellevue headquarters. Verizon took up T-Mobile’s offer, ditching a 71,000-square-foot office space in an Eastgate building for听a 32,682-square-foot space it subleased from T-Mobile.

Follow Frank Sumrall .听厂别苍诲听news tips here.

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Disney downsizes its Seattle office space in latest corporation exodus from region /local/disney-downsizes-seattle-office-space/4076971 Thu, 17 Apr 2025 15:32:42 +0000 /?p=4076971 The Walt Disney Company decided to downsize its office space in Seattle last quarter, according to a report from Commercial Real Estate last week.

The entertainment conglomerate renewed its lease, located within the Fourth & Madison Tower, earlier this year, but not without reducing the space needed from 170,000 square feet to 121,600鈥攁n approximate 28% reduction.

According to听, the Seattle office is dedicated to the technology sector for the Disney Corporation. Disney has occupied office space in Seattle since 1998.

The departure of major companies from Seattle

This office shuffling coincides with a lot of tech companies readjusting their workspaces. Google announced it was shuttering its four-building campus in Seattle’s Fremont neighborhood last month, transitioning its employees to its South Lake Union offices, while Salesforce shrank its office space in Bellevue by roughly 20%.

Warner Bros. Discovery decided to move its Seattle-based staff to a smaller office in Bellevue.

Last week, the streaming giant Netflix moved in the opposite direction, acquiring office space for its employees in the Madison Centre in Seattle.

MyNorthwest and 成人X站 Newsradio have reached out to Disney for comment.

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This will cost ‘half of my total anticipated profit’: Seattle businesses fight to survive turbulent tariffs /local/seattle-businesses-tariffs/4076934 Thu, 17 Apr 2025 13:42:49 +0000 /?p=4076934 The Trump administration’s shifting tariffs are wreaking havoc on Seattle businesses’ bottom lines and, in some cases, threaten their survival and the jobs they provide.

That’s what a group of Western Washington business and industry leaders is claiming. Flanked by Washington U.S. Senator Maria Cantwell, the group provided details on the impacts of the tariffs.

“Our brand is known for patented safe sleep products,” Jeff Damir, the COO of Seattle-based , told 成人X站 Newsradio.

Damir said most of what they sell is made in China (outside of a small line of “Made in USA” products) where they have long-standing relationships with factories. The products manufactured in China are now subject to the changing tariffs.

“Last month, we brought in a container鈥攁 container with a value of about $200,000鈥攁nd we had to pay an extra $20,000 to bring that in,” he explained. “This month, we’re bringing in another container. That container will cost us an extra $40,000 because the China tariffs went from 10% to 20%.”

Now? Swaddle Designs has a container of products to be shipped to the U.S. currently sitting in China. That container would cost them $300,000 in extra tariffs alone, given the 145% tariff increase.

They’re keeping it in China, hoping the tariffs will come down.

Can companies pivot to making products locally in the U.S.?

As for manufacturing products here? Damir told 成人X站 Newsradio it’s not practical or cost-effective.

“There’s just no way that we could ever bring production back,” Damir said.

What about businesses that already make their products in the U.S. with home-grown ingredients?

“I buy most of my ingredients locally, and I haven’t thought that I would be all that impacted,” said Molly Neitzel, the CEO of , a small Seattle-based chain. “What I didn’t think about until my CFO came to me is spoons.”

Molly Moon’s buys compostable spoons from a manufacturer in China, but under the current tariffs?

“The current structure will cost us about $240,000 this year,” Neitzel said. “That’s almost half of my total anticipated profit for 2025.”

A fractured relationship with Canada

It’s not just U.S. tariffs on imports causing challenges. Chris Stone, the deputy director of the , which represents more than 1,000 family-owned wineries and 400-plus farmers, said the tariffs have drawn retaliation.

“The best example would be Canada, our No. 1 export market, which literally evaporated,” Stone said. “Disappeared overnight.”

In response to the U.S. tariffs, Canada has banned U.S. alcohol sales鈥攁 loss of $10-12 million in business. Washington U.S. Senator Maria Cantwell pointed out that she helped promote American wines in Canada.

“I want you to know that I helped get British Columbia to put more Washington wine on their shelves,” Cantwell said.

She and Republican Iowa Senator Chuck Grassley have introduced the Trade Review Act, which they said would return most of the control over tariffs to Congress.

President Trump insists his tariffs will boost manufacturing in the U.S., give the U.S. leverage to reduce tariffs that other countries place on American products they import, and force countries to stop fentanyl from entering the U.S.

Heather Bosch is an award-winning for 成人X站 Newsradio.

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Egg prices increase to record high despite Trump’s predictions and bird flu outbreak slowing /local/egg-prices-trump-bird-flu/4074149 Thu, 10 Apr 2025 12:41:16 +0000 /national/egg-prices-increase-to-record-high-despite-trumps-predictions-and-bird-flu-outbreak-slowing/4074149 In defiance of President Donald Trump’s predictions, U.S. egg prices increased again last month to reach a new record high of $6.23 despite a drop in wholesale prices and no egg farms having bird flu outbreaks.

The increase reported Thursday in the means consumers and businesses that rely on eggs should not anticipate immediate relief. Demand for eggs is typically elevated until after Easter, which falls on April 20.

Industry experts were expecting the index to reflect a drop in retail egg prices because wholesale egg prices dropped significantly in March.

Bird flu outbreaks were cited as the major cause of price spikes in January and February after more than 30 million egg-laying chickens were killed to prevent the spread of the disease. Some farms that had fall outbreaks are resuming egg production after sanitizing their barns and raising new flocks.

Trump tried to take credit for the lower wholesale egg prices the U.S. Department of Agriculture reported in recent weeks. But experts say the president鈥檚 plan to fight bird flu by focusing on strengthening egg farmers鈥 defenses against the virus is likely to be more of a long-term help.

Since the current bird flu outbreak began, more than 168 million birds have been slaughtered, most of them egg-laying chickens. Any time a bird gets sick, the entire flock is killed to help keep bird flu from spreading. That can have an effect on the egg supply because massive egg farms may have millions of birds.

The disease is difficult to control because it is spread easily through the droppings of wild birds that carry the avian flu virus. Bird flu has also inflected other animals, including dairy cattle.

Earlier in the outbreak, egg prices spiked to hit $4.82 in January 2023 before gradually falling as low as $2.04 per dozen in August 2023. Generally, prices have since increased steadily.

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Forever no more. Operator of mall staple Forever 21 files for bankruptcy protection /local/forever-21-bankruptcy/4063881 Mon, 17 Mar 2025 16:20:44 +0000 /?p=4063881 Forever 21 has filed for bankruptcy protection听听and plans to close down its U.S. business as traffic in U.S. shopping malls fades and competition from online retailers like Amazon, Temu and Shein intensifies.

F21 OpCo, which runs Forever 21 stores, said late Sunday that it will wind down the business in the U.S. under Chapter 11 bankruptcy protection while determining if it can continue as a business with a partner, or if it will sell some or all of its assets.

鈥淲hile we have evaluated all options to best position the company for the future, we have been unable to find a sustainable path forward, given competition from foreign fast fashion companies, which have been able to take advantage of the de minimis exemption to undercut our brand on pricing and margin,鈥 Chief Financial Officer Brad Sell said in a statement.

罢丑别听听lets shipments headed to U.S. businesses and consumers valued at less than $800 to enter the country tax free and duty free.

Forever 21 stores in the U.S. will hold liquidation sales and the website will continue to run while operations wind down. The retailer鈥檚 locations outside of the U.S. are run by other licensees and are not included in the bankruptcy filing. International store locations and websites will continue operating as normal.

Authentic Brands Group owns the international intellectual property associated with the Forever 21 brand and may license the brand to other operators, F21OpCo said.

Jarrod Weber, Global President, Lifestyle at Authentic Brands Group, said the restructuring lets Forever 21 鈥渁ccelerate the modernization of the brand鈥檚 distribution model, setting it up to compete and lead in fast fashion for decades to come. We鈥檙e building a direct creation-to-shelf model that moves faster.鈥

He added that, 鈥淲e are receiving lots of interest from strong brand operators and digital experts who share our vision and are ready to take the brand to the next level.鈥

Forever 21 first filed for听听in 2019. The following year, it was acquired by a听听of parties including Authentic Brands Group and mall owners Simon Property Group and Brookfield Property Partners. In early January, Forever 21鈥檚 parent company, Sparc Group, merged with JCPenney to form Catalyst Brands, a new entity that also includes brands like A茅ropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and Nautica.

Forever 21 joins a slew of other retailers that have filed for Chapter 11 or are liquidating in recent months as retailers face a slowdown in consumer spending and are navigating rising operating costs amid inflationary pressures. They include fabric and crafts retailer听听补苍诲听. In February, Outdoor apparel seller听听which has operated stores for surfer and skater-inspired labels like Quiksilver, Billabong and Volcom, filed for bankruptcy 鈥 and said it plans to shutter its locations across the U.S.

From Jan. 1 through March 14, U.S. retailers have so far announced 3,735 store closures, according to Coresight Research鈥檚 weekly tracker.

Forever 21 had been battling a host of macroeconomic challenges as well as its own issues.

Forever 21 was founded in 1984 and, along with other fast-fashion chains like H&M and Zara, rode a wave of popularity among young customers in the mid-1990s. Their popularity grew during the Great Recession, when shoppers were seeking bargains. But Forever 21 went on an aggressive expansion just as shoppers were moving more online. Critics have said that Forever 21 was too slow to embraice online shopping.

The company also faced stiff competition from the likes of Shein and Temu, which churn out trendy items that are cheaper than what Forever 21 offers. For example, Forever 21 sells T-shirts for around $10. Temu has them for $5.

Neil Saunders, managing director of GlobalData, said in a statement that part of the problem now is that Forever 21鈥檚 stores are too big for its current needs and it鈥檚 in malls with not enough foot traffic.

鈥淔orever 21 was always a retailer living on borrowed time. Over recent years it has been hit with dual headwinds from a weak apparel market and stiff competition from cheap Chinese marketplaces,鈥 he said. 鈥淏oth things have eroded its standing and depleted its market share.鈥

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Gas pumps around Washington could be giving different amounts of fuel than what you paid for /local/gas-pumps-different-amounts-fuel/4063851 Mon, 17 Mar 2025 15:19:30 +0000 /?p=4063851 Have you ever wondered if your gas pump is really giving you the amount of fuel you鈥檙e paying for?

Here in Washington, the Weights and Measures program under the Department of Agriculture monitors that. Their job as inspectors is to check the accuracy, safety, and quality of each gas pump across the state.

Gas pumps are not their only task. They also check grocery store scales, highway weigh-stations, and any other commercial use scale in the state.



成人X站 7 found most gas stations in the Puget Sound area aren鈥檛 checked regularly due to a 鈥渟hortage of pump inspectors,鈥 according to Weights and Measures program manager, Tahis McQueen.

鈥淏ecause we are short-staffed, we have not been able to make those inspections in that timely 18-month time frame,鈥 McQueen said.

There are 1,055 gas stations across King, Pierce, and Snohomish Counties. Those stations are supposed to be inspected every two years or less, per state law.

成人X站 7 requested the gas station inspection reports for 2023-2024. 成人X站 7 received 75 reports.

Out of those 75 reports, 26 of them showed the pumps had an issue with useability and fill accuracy.

Summed up, only 7% of the county鈥檚 gas stations have been inspected in the past two years and 1/3 of the ones that have been inspected failed.

It鈥檚 easy to spot when a pump has been last inspected. Each pump at every station should have a sticker on it that has a hole-punched month and year.

成人X站 7 found many pumps across the three Puget Sound counties that had no sticker at all.

According to the reports, many stations have not been recently inspected. If the sticker date goes back more than a few years, it鈥檚 possible what鈥檚 on this screen doesn鈥檛 match what鈥檚 going into your tank. Pump errors are possible due to lack of accountability with few inspections happening.

Here in Western Washington, we know every penny matters when it comes to buying a full tank.

鈥淚f they鈥檙e above or below the zero marker, we have a tolerance of six cubic inches in either direction,鈥 McQueen said.

Six cubic inches comes out to be a little less than half a cup of gas.

Reports show some pumps are giving up to two whole cups less than what the customer paid for.

At the same time, other gas stations are giving more gas than paid for.

Either way, what鈥檚 in your tank doesn鈥檛 match what鈥檚 coming out of your wallet.

75 stations were inspected from 2023-2024. 26 of them failed the test due to calibration accuracy requirements. Out of the 26, 14 stations were giving gas away, benefitting the consumer, while 12 of them were not giving people what they paid for.

McQueen told 成人X站 7 the gas station operators are likely not doing this on purpose.

鈥淚t鈥檚 usually a problem with the actual meter it鈥檚 not tampering or anything like that,鈥 McQueen said.

But on the chance your favorite gas station fails an inspection, there are checks and balances.

鈥淚f there鈥檚 a problem with the accuracy of the meter, they will write the station up telling them what the issue was as far as accuracy goes and give them 30 days to get that fixed,鈥 McQueen said.

After that deadline, the state is then required to go back to that station and make sure the issue was resolved.

Below is a list of each gas station that was inspected from 2023-2024 in King, Pierce, and Snohomish counties. This information was given to 成人X站 7 via a request to the Washington Weights and Measures Department. 成人X站 7 asked them for all reports from those two years in those three counties.

If the gas station had an issue with a pump, the inspector flagged the problem and often issues the station a fine and a charge to fix the problem within a month. The statistics below represent inspection results from specific days in 2023-2024, they do not represent if the gas station currently has a calibration or system issue.



听Passed: Chevron, 11122 Steele Street S, Lakewood, WA, 98499

Passed: 76, 2601 N Stevens St, Tacoma, WA, 98407

Passed: Safeway, 11501 Canyon Rd E, Puyallup, WA, 98373

Passed: Chevron, 1772 S 72nd St, Tacoma, WA, 98408

Passed: Safeway, 2735 N Pearl St, Tacoma, WA, 98407

Passed: Shell, 801 S Hill Park Dr, Puyallup, WA, 98373

Passed: 76, 8817 Pacific Ave, Tacoma, WA, 98444

Passed: ARCO, 401 Ellingson Rd, Pacific, WA, 98047

Passed: Chevron, 2626 Bellevue Way NE, Bellevue, WA, 98004

Passed: Shell, 24821 NE Redmond Fall City Rd, Redmond, WA, 98053

Passed: 7/11, 22422 83rd Ave, Kent, WA, 98032

Passed: Pacific Pride, 22429 SE 231 St, Maple Valley, WA, 98038

Passed: ARCO, 1537 Duvall Ave NE, Renton, WA, 98059

Passed: Chevron, 601 Stevens Pass Hwy, Sultan, WA, 98294

Passed: Chevron, 502 W Stanley St, Granite Falls, WA, 98252

Abnormal: Chevron, 19923 International Blvd, SeaTac, WA, 98188

Abnormal: Shell, 24821 NE Redmond Fall City Rd, Redmond, WA, 98053

Abnormal: ARCO, 13055 NE 70th Pl, Kirkland, WA, 98033

Abnormal: Garry鈥檚 on Pearl, 4601 N Pearl St, Tacoma, WA, 98407

Abnormal: Chevron, 6701 6th Ave, Tacoma, WA, 98406

Abnormal: Fred Meyer, 33702 21st Ave SE, Federal Way, WA, 98023

Abnormal: 76, 719 91st Ave NE, Lake Stevens, WA, 98258

Abnormal: Shell, 6410 State Route 92, Lake Stevens, WA, 98258

Abnormal: Shell, 6410 State Route 92, Lake Stevens, WA, 98258

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Egg prices continue to hit records as Easter and Passover approach, but some relief may be coming /local/egg-prices-hit-records/4062140 Thu, 13 Mar 2025 12:34:30 +0000 /?p=4062140 听again reached a record high in February, as the听听continues to run rampant and Easter and Passover approach.

The latest monthly听听showed a dozen Grade A eggs cost an average of $5.90 in U.S. cities in February, up 10.4% from a year ago. That eclipsed听听of $4.95.

听has forced farmers to slaughter more than 166 million birds, mostly egg-laying chickens. Just since the start of the year, more than 30 million egg layers have been killed.

If prices remain high, it will be听听consumers have faced sticker shock ahead of听听on April 20 and听, which starts on the evening of April 12, both occasions in which听听prominent roles.

The price had consistently been below $2 a dozen for decades before the disease struck. The U.S. Department of Agriculture expects egg prices to rise 41% this year over last year鈥檚 average of $3.17 per dozen.

Related on MyNorthwest: Here鈥檚 how to get $2 eggs in Seattle and Tacoma

Lower egg prices on the horizon

But there may be light at the end of the tunnel. The USDA reported last week that egg shortages are easing and wholesale prices are dropping, which might provide relief on the retail side before this year鈥檚 late Easter, which is three weeks later than last year. It said there had been no major bird flu outbreak for two weeks.

鈥淪hoppers have begun to see shell egg offerings in the dairycase becoming more reliable although retail price levels have yet to adjust and remain off-putting to many,鈥 the USDA wrote in the听.

David Anderson, a professor and extension economist for livestock and food marketing at Texas A&M University, said wholesale figures dropping is a good sign that prices could go down as shoppers react to the high prices by buying fewer eggs.

鈥淲hat that should tell us is things are easing a little bit in terms of prices,鈥 he said. 鈥淪o going forward, the next CPI report may very well indicate falling egg prices.鈥

However, he doesn鈥檛 expect lasting changes until bird stock can be replenished and production can be replaced.

鈥淩ecord high prices is a market signal to producers to produce more, but it takes time to be able to produce more, and we just haven鈥檛 had enough time for that to happen yet,鈥 he said. 鈥淏ut I do think it鈥檚 going to happen. But it鈥檚 going to take some more months to get there.鈥

Emily Metz, president and CEO of the American Egg Board, said wholesale prices dropping is good news, but noted that increased demand for Easter could drive a temporary increase in prices.

鈥淚n addition, egg farmers are closely watching spring migration of wild birds, recognizing that wild birds are a leading cause of the spread of this virus and pose a great and ongoing threat to egg-laying flocks,鈥 she said.

Advocacy groups and others have听听into whether egg producers have used the avian flu to price gouge. But egg producers say the avian flu is solely behind the elevated prices.

惭别补苍飞丑颈濒别,听听补苍诲听听to offset the cost of eggs.

罢丑别听听丑补蝉听听to combat bird flu, including a $500 million investment to help farmers bolster biosecurity measures, $400 million in additional aid for farmers whose flocks have been impacted by avian flu, and $100 million to research and potentially develop vaccines and therapeutics for U.S. chicken flocks, among other measures. But it will likely take a while for that plan to make an impact.

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Local concern rising after stock market plunge /local/stock-market-plunge/4061013 Tue, 11 Mar 2025 12:14:24 +0000 /?p=4061013 The U.S. stock market saw a deeper sell-off on Monday as investors reacted to ongoing economic uncertainties, including trade policies and concerns over tariffs.

The S&P 500 fell 2.7%, bringing it nearly 9% below its all-time high from the previous month. At its lowest point, the index was down 3.6%, marking its worst single-day decline since 2022. That year, rising inflation fueled recession fears, though the economy ultimately avoided a downturn.

The Dow Jones Industrial Average dropped 890 points, or 2.1%, after recovering from an earlier loss of more than 1,100 points. Meanwhile, the Nasdaq composite slid 4%.



Although western Washington is on the other side of the country, locals are still watching what happens on Wall Street.

“My concern is that all of our retirement money is evaporating,” Lisa Kline said at Bellevue鈥檚 Downtown Park. “It鈥檚 a real big concern for all the Baby Boomers.”

“It affects my income in a way, long term,” said retired man Thaddeus Powell, of Bellevue. “If I can鈥檛 rely on the market, then I have to find something else to do. And, like I said, being (with a) disability, it鈥檚 pretty hard to get a job that way because I can鈥檛 work eight hours a day.”

Those issues came into sharp relief after the stock market had its worst day so far in 2025. Dropping nearly 1,200 points before rebounding slightly to end the day down nearly 900 points.

Dana Grigg, a Seattle-based investment advisor, said people should be concerned about a possible rocky road ahead.

“So, yes,” Grigg said. “The road could be rocky, but always remember, that鈥檚 why we get excess returns as investors because we鈥檙e willing to weather those storms.”

That seemed to be of little comfort here.



“I think we have, it is what it is, you know,” Bellevue man Scott Penner said. “I just wonder how long people are going to put up with it?”

It likely won鈥檛 be long before we begin to get those answers.

The stock market opens for business again Tuesday morning.

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Economic Blackout: Will a 24-hour boycott make a difference? /local/economic-blackout-february-28/4054646 Fri, 28 Feb 2025 13:55:48 +0000 /?p=4054646 A grassroots organization is encouraging U.S. residents not to spend any money Friday through an economic blackout as an act of “resistance” to protest what the group鈥檚 founder sees as the malign , big corporations and both major political parties on the lives of working Americans.

The People鈥檚 Union USA calls the 24 hours of spending abstinence set to start at midnight an “economic blackout,” a term that has since been shared and debated on social media. The activist movement said it also plans to promote weeklong consumer boycotts of particular companies, including 听and Amazon.

Other activists, faith-based leaders and consumers already are organizing boycotts听听that have scaled back their diversity, equity and inclusion initiatives, and to oppose President Donald Trump鈥檚 moves to听. Some faith leaders are encouraging their congregations to refrain from听, one of the companies backing off DEI efforts, during the 40 days of Lent that begin Wednesday.

Here are some details about the various events and experts鈥 thoughts on whether having consumers keep their wallets closed is an effective tool for influencing the positions corporations take.

Who鈥檚 behind the ’24-hour Economic Blackout?’

The People鈥檚 Union USA, which takes credit for initiating the no-spend day, was founded by John Schwarz, a meditation teacher who lives near the Chicago area, according to his social media accounts.

The organization鈥檚 website said it鈥檚 not tied to a political party but stands for all people. Requests for comment sent to the group鈥檚 email address this week did not receive a reply.

The planned blackout is scheduled to run from 12 a.m. EST through 11:59 p.m. EST on Friday. The activist group advised customers to abstain from making any purchases, whether in store or online, but particularly not from big retailers or chains. It wants participants to avoid fast food and filling their car gas tanks, and says shoppers with emergencies or in need of essentials should support a local small business and try not to use a credit or debit card.

People鈥檚 Union plans another broad-based economic blackout on March 28, but it鈥檚 also organizing boycotts targeting specific retailers 鈥 Walmart and Amazon 鈥 as well as global food giants Nestle and General Mills. For the boycott against Amazon, the organization is encouraging people to refrain from buying anything from Whole Foods, which the e-commerce company owns.

What other boycotts are being planned?

There are a number of boycotts being planned, particularly aimed at Target. The discounter, which has backed diversity and inclusion efforts aimed at uplifting Black and LGBTQ+ people in the past, announced in January听

A labor advocacy group called We Are Somebody, led by Nina Turner, launched a boycott of Target on February 1 to coincide with Black History Month.

Meanwhile, an Atlanta-area pastor, the Rev. Jamal Bryant, organized a website called targetfast.org to recruit Christians for a 40-day Target boycott starting March 5, which marks Ash Wednesday, the beginning of Lent. Other faith leaders have endorsed the protest.

The Rev. Al Sharpton, founder and president of the National Action Network, a civil rights organization, announced in late January it would identify two companies in the next 90 days that will be boycotted for abandoning their diversity, equity and inclusion pledges. The organization formed a commission to identify potential candidates.

“Donald Trump can cut federal DEI programs to the bone, he can claw back federal money to expand diversity, but he cannot tell us what grocery store we shop at,” Sharpton said in a statement posted on the National Action Network鈥檚 website.

Will the events have any impact?

Some retailers may feel a slight pinch from Friday鈥檚 broad “blackout,” which is taking place in a tough economic environment, experts said. Renewed inflation worries and Trump鈥檚 threat of tariffs on imported goods already have had an effect on .

“The (market share) pie is just so big,” Marshal Cohen, chief retail advisor at market research firm Circana, said. “You can鈥檛 afford to have your slices get smaller. Consumers are spending more money on food. And that means there鈥檚 more pressure on general merchandise or discretionary products.”

Still, Cohen thinks the overall impact may be limited, with any meaningful sales declines more likely to surface in liberal-leaning coastal regions and big cities.

Anna Tuchman, a marketing professor at Northwestern University鈥檚 Kellogg School of Management, said she thinks the economic blackout will likely make a dent in daily retail sales but won鈥檛 be sustainable.

“I think this is an opportunity for consumers to show that they have a voice on a single day,” she said. “I think it鈥檚 unlikely that we would see long-run sustained decreases in economic activity supported by this boycott.”

Other boycotts have produced different results.

Target saw a drop in sales in the spring and summer quarter of 2023 that the discounter attributed in part to customer听听honoring LGBTQ+ communities for Pride Month. As a result, Target听听merchandise in all of its stores the following year.

Tuchman studied the impact of a听听during the summer of 2020 after the company鈥檚 CEO praised Trump. But her study, based on sales from research firm Numerator, found the brand听听driven by first-time Goya buyers who were disproportionately from heavily Republican areas.

However, the revenue bump proved temporary; Goya had no detectable sales increase after three weeks, Tuchman said.

It was a different story for听, which spent decades as America鈥檚 bestselling beer. Sales plummeted in 2023 after the brand sent a commemorative can to a transgender influencer. Bud Light鈥檚 sales still haven鈥檛 fully recovered, according to alcohol consulting company Bump Williams.

Tuchman thinks a reason is because there were plenty of other beers that the brand鈥檚 mostly conservative customer base could buy to replace Bud Light.

Afya Evans, a political and image consultant in Atlanta, said she would make a point of shopping on Friday but will focus on small businesses and Black-owned brands.

Evans is aware of other boycotts but she said she liked this one because she believes it could have some effect on sales.

“It鈥檚 a broader thing,” she said. “We want to see what the impact is. Let everybody participate. And plan from there.”

The Associated Press Business Writer Dee-Ann Durbin in Detroit contributed to this report

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Seattle-based Expedia confirms more layoffs despite profitable 2024 /local/expedia-layoffs/4053112 Wed, 26 Feb 2025 14:54:47 +0000 /?p=4053112 While the specific number of employees has yet to be revealed, Expedia Group has confirmed that it is going to lay off more workers.

The Seattle-based travel giant cited cutting costs as the reason for this decision. Expedia Group includes brands such as vrbo, Orbitz, Hotwire, Trivago and Hotels.com in addition to Expedia.com.

Related on MyNorthwest: Starbucks layoffs could signal trouble brewing for the economy

“To ensure the best traveler experience, we must continually adapt to the evolving needs of our industry and travelers,” a company spokesperson told in a prepared statement. “This requires difficult but necessary decisions such as refining our marketing strategies, improving efficiencies, and reallocating resources to areas with the greatest business impact to drive customer engagement.”

Expedia’s layoffs come after successful year

Despite Expedia having an approximate 10% revenue growth last quarter and an adjusted net income that increased 30% year-over-year — both figures beating analyst expectations — the company is condensing its workforce down from 16,500 employees. The company鈥檚 stock is up nearly 50% over the past 12 months, according to GeekWire.

“We were disciplined in our cost management in 2024, and that allowed us to expand profit margins while reinvesting in strategic areas,” Expedia CEO Ariane Gorin said. “We believe we still have room to deliver further efficiencies across our variable costs and fixed cost base to expand our margins even further.”

Expedia听cut 1,500 jobs last year.

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Starbucks CEO Brian Niccol awarded $96 million pay package after 4 months on the job /money/starbucks-ceo-96-million-pay/4035283 Tue, 28 Jan 2025 15:02:23 +0000 /?p=4035283 Starbucks CEO Brian Niccol was recently awarded a $96 million compensation package after four months of leading the company 鈥 becoming one of the highest-paid executives in corporate America.

Starbucks confirmed with that his package included around $90 million in stock awards, a $5 million signing bonus, and buyouts from his former company, Chipotle.

This comes after Starbucks workers across the nation went on strike demanding better pay.



According to filings cited by the Wall Street Journal, Niccol also received nearly $62,000 in salary.

In addition to his package, Niccol uses a company-owned jet to fly from his home in Newport, California to Seattle where Starbucks has also agreed to cover temporary housing costs.

Starbucks confirmed with 成人X站 7 News that Starbucks had paid more than $143,000 in housing expenses, about half of which were tax-related payments. Niccol also spent about $72,000 flying between his home in southern California and Seattle, and about $19,000 related to other personal use of company aircraft.

During his tenure as CEO of Chipotle, Niccol received an annual compensation package of around $33 million for several years as the stock rose more than 700%.

Starbucks鈥 stock climbed seven percent since Niccol began in September.

Under Niccol鈥檚 leadership, the coffeehouse giant is revamping its operations to address declining sales and shifting consumer habits.

Starbucks rolled out familiar changes Monday to enhance the in-store experience, including bringing back condiment bars after they were taken away during the COVID-19 pandemic and baristas will return to hand-writing customers鈥 names on their cups using Sharpies.

Bathrooms will only be allowed for customers, while the company will offer ceramic mugs for dine-in customers and free water cups.

“He did a great job at Chipotle. The stock went up 770% over a period in just a few years, and he deserved to make that money,” Thomas Fellows, who runs Commence AI, which helps companies use artificial intelligence to analyze efficiency, said. “It鈥檚 very unfair to your average worker (Starbucks) because he鈥檚 getting paid more than 6,000 percent more than the average worker and he hasn鈥檛 proven that he has turned around the company.”

“It鈥檚 OK for a CEO or an executive to make eight figures. Brian Niccol is making $96 million, but you got to earn it,” he added after sharing his company鈥檚 report on Starbucks鈥 performance and Niccol鈥檚 pay package.



成人X站 7 spoke with Mari Cosgrove, union leader, who has been with Starbucks for 11 years.

“He鈥檚 not making the company profit, I am. Me and my coworkers are. Baristas nationwide are producing the goods that people want to buy,” she said. “We鈥檙e often making really customized drinks to make sure people not only leave happy but want to come back repeatedly.”

The barista said many workers felt unvalued after learning about Niccol鈥檚 compensation package following a nationwide strike where workers demanded better pay.

“It鈥檚 really frustrating, especially when the majority workers, we鈥檙e paid so little,” Cosgrove said. “Our options are public transit or walking to work.”

The veteran Starbucks worker said the pay package will not address the company鈥檚 root issues.

“I have equipment at my job that breaks down regularly. That鈥檚 what leading to our problems, fixing that, but that money, instead, is going to a CEO,” she added. “It鈥檚 not going to fix the issues that we see on a day-to-day basis.”

成人X站 7 reached out to Starbucks for a statement. While the outlet did not get an official response as of Monday afternoon, a spokesperson said that Niccol was a highly sought-after leader with a proven track record with experiences to drive the chain鈥檚 growth.

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A new day and a new way as Starbucks tries to turn financials around /local/a-new-day-and-a-new-way-as-starbucks-tries-to-turn-financials-around/4034762 Mon, 27 Jan 2025 17:31:19 +0000 /?p=4034762 Starbucks has reintroduced and unveiled new amenities in its stores starting today. Customers who order their beverages “for here” will get free refills on certain drinks. This initiative aims to enhance the in-store experience by serving beverages in coffee mugs, glasses, or personal cups brought from home. During their visit, customers can enjoy unlimited refills of hot brewed or iced coffee and hot or iced tea.

In addition to these changes, Starbucks is implementing a to ensure a comfortable and safe environment for both customers and employees. This code of conduct will be prominently displayed in stores and emphasizes the importance of respectful behavior and the proper use of Starbucks spaces, including caf茅s, patios, and restrooms. The guidelines prohibit misuse or disruption of spaces, discrimination, harassment, violence, abusive language, outside alcohol consumption, smoking, vaping, drug use, and panhandling. Customers who do not adhere to these rules may be asked to leave, and law enforcement may be involved if necessary.

Costco鈥檚 big beverage swap: Coke is returning to store food courts

Brian Niccol, chairman and chief executive officer of Starbucks, commented on the company’s strategic shift in a statement on its website: “It is clear we need to fundamentally change our strategy to win back customers. ‘Back to Starbucks’ is that fundamental change. My experience tells me that when we get back to our core identity and consistently deliver a great experience, our customers will come back. We have a clear plan and are moving quickly to return Starbucks to growth.”

Rachel Ruggeri, chief financial officer, also expressed confidence in the company’s future: “As shared in our Press Release last week, our results do not reflect the strength of our brand. I have seen what Starbucks is capable of when we focus on what we do best. I have confidence in our ability to turn around our business and expect we will return to long-term growth.”

writes: “It’s an understatement to say Starbucks has been struggling mightily. The economy, and particularly the consumer, have held up relatively well in the past year, despite a constant feeling of uncertainty. However, Starbucks hasn’t seen such positive results.”

Last quarter, the business reported a听 decline in same-store sales, with notable drops in its two key markets, the U.S. and China. This was the third straight quarter that same-store sales showed a year-over-year decrease.

The new initiatives have been implemented in hopes of turning things around.

Bill Kaczaraba is a content editor at MyNorthwest. You can read his stories here. Follow Bill on X, formerly known as Twitter, and email him here.

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FILE - The Starbucks logo is seen on a storefront. (AP Photo/Michael Dwyer, File)...
Costco’s big beverage swap: Coke is returning to store food courts /local/coke-returning-costco-food-courts/4033896 Sat, 25 Jan 2025 23:56:24 +0000 /?p=4033896 After weeks of speculation, Costco confirmed Thursday the wholesale chain’s food courts will look a lot different soon as it will begin offering Coca-Cola or Coke products in its soda fountains this summer.

Costco President and CEO Ron Vachris briefly confirmed the major change during the Q&A portion of the company’s Thursday. (The question was answered at the 44:24 mark of the presentation.)

“Is the food court truly switching back to Coke products?” one person asked.

“Yes, that is accurate,” Vachris said in response. “This summer, we will be converting our food court fountain business back over to Coca-Cola.”

That means Coca-Cola Classic, Diet Coke and Sprite will soon be available at the fountains instead of Pepsi, Diet Pepsi and Starry.

The confirmation comes after , which often publishes online articles about deals and coupons before Costco does and bills itself as “the No. 1 website on the internet about Costco,” the change was coming. In its coverage, also cited in December alerting people to the change.

the deal not only includes the machines and syrup in the sodas, but cups, straws and other products as well.

Costco roundup: Some item prices lowered, more stores coming, big sub for sale

Costco leaves Pepsi after more than a decade

After serving Coke products for decades in its food courts, Costco switched to Pepsi in 2013, as multiple stated.

“It鈥檚 a big shift,” then-Costco Vice President of Food Services Alan Bubitz . “They鈥檙e the only vendor we鈥檝e ever had for the majority of the business locations.”

Bubitz expected pushback to the change to Pepsi from Coke at the time. But he also told BevNET at that time the change from Coke to Pepsi was being made in an attempt to preserve the iconic deal where customers can get a 22-ounce cup of soda and a hot dog for $1.50.

“You鈥檙e not going to be able to please everybody,” to the specialty media outlet. “It鈥檚 our job to preserve the integrity of the price point.”

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Customers wait in line to order below signage for the Costco Kirkland Signature $1.50 hot dog and soda combo. (Photo: Patrick T. Fallon, Getty Images)

So, will a hot dog and a Coke still cost $1.50 at Costco?

Costco most recently confirmed last May via Executive Vice President and CFO Gary Millerchip in an earnings call the price of the combo will remain the same.

“To clear up some recent media speculation, I also want to confirm the $1.50 hot dog price is safe,” .

Costco is keeping the price of that combo the same despite inflation impacting the wholesale retailer’s cost to produce it.

Business news: Costco successfully defends its diversity policies as other US companies scale theirs back

last year that if Costco’s kept pace with inflation, the famous hot dog deal would be three times as expensive as it was in 1985 when the company first set the price 鈥 nearly $4.50.

Talking about the deal in 2009 with , Costco founder and then-CEO Jim Sinegal was asked what it meant if the company increased the price of that deal.

“That I鈥檓 dead,” Sinegal responded.

When asked why it was so significant, Sinegal to the Times that even then — more than 15 years ago — people brought up how great the deal is.

“Because everybody talks about it,” Sinegal said. “People look at that hot dog and say a buck fifty, this is unbelievable. It鈥檚 the same thing you鈥檇 spend $7 or $8 at the ballpark for and not get the same quality dog. It鈥檚 one of the things that we鈥檙e known for.”

The Costco shareholders call Thursday where the change to Coke was announced didn’t reveal any more information about the price of the hot dog deal, but the company did reveal it sold in the 2024 fiscal year.

Steve Coogan is the lead editor of MyNorthwest. You can read more of his stories here. Follow Steve on , or email him here.

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Image: A Costco sign can be seen outside of the Shoreline store location on Oct. 10, 2024....
REI CEO announces surprise retirement /local/rei-ceo-announces-surprise-retirement/4032438 Thu, 23 Jan 2025 18:10:40 +0000 /?p=4032438 The CEO and president of REI, Eric Artz, announced he is retiring. The Issaquah-based co-op stated Artz will leave the position at the end of March.

Mary Beth Laughton, a former REI Board Director, will join REI as president on Feb. 3 before assuming full CEO responsibilities by March 31.

“Eric has led and stabilized REI through some of the most challenging years the retail sector and our co-op ever faced,” Chris Carr, Chair of the REI Board of Directors, said in the announcement. “REI is in a strong position today because he always kept our purpose, values and people as his north star.

More on REI: REI cuts dozens of people, popular programs to cure money woes

“Mary Beth has the ideal experience to build on this foundation and to lead REI forward into our next chapter,” Carr continued. “The world needs a strong REI, and we are confident Mary Beth will hit the ground running.”

In addition to being a former REI board director, Laughton also served as a board member for Instacart and previously led Nike Global Direct to Consumer Sales. She has also held leadership roles with Athleta, Impossible Foods and Sephora.

Artz had been with REI for 12 years, including six as its president and CEO, guiding the company through the 听COVID-19 pandemic.

“We have accomplished more together in these 12 years than I ever imagined, at times making our way through the unimaginable, and confronting many tough choices together,” Artz stated in a letter to the company. “While there is never a good moment to step away from an organization you love, we have positive momentum in the business and are in a much better position.”

This announcement comes on the heels of the outdoor retailer REI laying off 180 full-time and 248 part-time employees, including 67 in Washington. REI’s “Experiences” division, which includes outdoor classes, events and tours, also folded as it was deemed unprofitable.

Seattle-area layoffs: Microsoft, REI start 2024 with workforce reductions

Despite the announcement, the company saw financial growth in December, meaning REI was close to breaking even financially in 2024. REI lost $311 million in 2023.

“Serving you and this enduring organization has been the honor of my professional life,” Artz continued in his letter. “Being outside means something different for everyone and our job is not to tell people what that looks like. It is to show one another and to welcome others, always making time outside more accessible to more people in more ways. That is worth fighting for.”

Frank Sumrall is a content editor at MyNorthwest and producer of the Seattle Seahawks podcast, . You can read his stories听here听and you can email him听here.

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What PSE鈥檚 newly increased rates mean for your budget /money/what-pse-new-increase-rates-mean-for-your-budget/4030115 Fri, 17 Jan 2025 21:07:12 +0000 /?p=4030115 Expect to be paying more for gas and electricity if you’re a Puget Sound Energy (PSE) customer.

The Utility and Transportation Commission (UTC) approved new rate hikes, which will take effect over the next two years, citing the raised prices support state laws focused on transitioning to clean energy.

More local utilities rising in price: Tacoma Public Utilities rates to go up for the next 2 years

UTC is a state-operated agency that regulates private, investor-owned electric and natural gas utilities in Washington.

“A typical residential electric customer using 800 kWh of energy per month can expect an increase of $13.08, or 12% in 2025 for an average monthly bill of $122.16,” UTC stated in a prepared release. “An additional $7.67, or 6.3% monthly increase, is expected in 2026, resulting in an average monthly bill of $129.83.”

Typical gas customers, someone using approximately 64 therms per month, should expect to see a monthly increase of $7.50 this year (9.4%), with another $1.65 increase (1.9%) in 2026.

While UTC approved the rate increases, the commission rejected the company鈥檚 request to include projects involving alternative fuels, such as renewable natural gas and hydrogen, in the rate structure.

“The commission’s decision supports state laws focused on transitioning to clean energy while ensuring fairness for customers and encouraging utilities to consider their impact on low-income households,” UTC’s statement continued. “The commission also authorized PSE to start recovering a return on specific purchase power agreements.”

More on PSE: Puget Sound Energy customers now paying more as rate hike takes effect

According to UTC, this is the first time the commission has allowed a return on these agreements under the Clean Energy Transformation Act.

PSE, based in Bellevue, provides electric service to more than 1.2 million customers across eight Washington counties. Its natural gas service is used by more than 900,000 customers in six Washington counties.

Frank Sumrall is a content editor at MyNorthwest and producer of the Seattle Seahawks podcast, . You can read his stories听here听and you can email him听here.

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‘Might become a delicacy:’ Beth’s Cafe, other eateries worried about growing egg shortage /seattles-morning-news/might-become-delicacy-beths-cafe-other-eateries-worried-growing-egg-shortage/4028544 Tue, 14 Jan 2025 19:38:21 +0000 /?p=4028544 The U.S. is facing a nationwide egg shortage due to an increase in avian influenza cases, also called bird flu, causing eggs to go for exorbitant prices.

More than 17 million egg-laying hens died from the bird flu in November and December of last year alone, according to the . The department also shared it will take months to replace that many hens to get the quantity of eggs for consumption back at normal levels.

“It’s like over one dollar for an egg,” 成人X站 Newsradio traffic reporter Chris Sullivan said on “Seattle’s Morning News” on 成人X站 Newsradio Tuesday. “I mean, you can get an 18-pack of Busch Light and pay less than that per can.”

Affordable eggs: 成人X站 7 hunts for best prices in Washington

The cited that the average price of a dozen eggs has increased by nearly 25% in just the last few months. For businesses like , famous for its 12-egg omelet, this shortage has turned into a fatal blow.

“People see the prices going up, and it makes it harder for people to go out and enjoy breakfast as often as they want to,” Mason Reed, owner of Beth’s Cafe, said on “Seattle’s Morning News.”

Reed shared is now $35, but depending on what’s added to it, it can cost nearly $46. The six-egg omelet is priced at $23.

“I don’t think, I mean, I hope that eggs don’t go away, but it might become a delicacy,” Reed said. “It might be a fancy thing that you can only have once in a while.”

More on Beth’s Cafe: Scramble down to the now-reopened Beth鈥檚 Cafe in Seattle

There are alternatives to eggs for prepared breakfast dishes and it’s an option Reed is warming up to.

“There are also plant-based egg alternatives and some of them are pretty tasty and good for you,” Reed said. “You use Himalayan salt, which kind of has a sulfury taste to it and gives it that eggy flavor. And it’s just made out of chickpea flour, mung bean flour and tofu. You blend it all up into a liquid and it behaves similarly to the way an egg would behave on the grill. It’s not exactly like an egg and, of course, you can’t have your runny yolk. It’s more of a scramble.”

In addition to the recent jump in egg prices, Seattle’s minimum wage rose on Jan. 1 from $19.97 per hour to $20.76, as stated in an ordinance from the City of Seattle. The new hourly wage is $4 higher than the state of Washington’s new 2025 minimum wage of $16.66 per hour.

“I want to be very clear about this. I’m all for paying people. We live in a very expensive city, and people deserve to get paid to work and they should be able to afford to live,” Reed said, acknowledging the egg shortage compounded with Seattle’s new minimum wage mandate has severely impacted business. “The thing I think people don’t understand is they see restaurants raising their prices, and they think the restaurant owners are being greedy. We’re not. This is very much a labor of love since the pandemic. We’re not laughing all the way to the bank. Most of us are just trying to keep the lights on, pay the bills and stay in business. Most restaurants are lucky to be breaking even right now.”

Gee and Ursula: Another restaurant closes after the Seattle minimum wage rises again

Frank Sumrall is a content editor at MyNorthwest and producer of the Seattle Seahawks podcast, . You can read his stories听here听and you can email him听here.

Listen to Seattle’s Morning News with Charlie Harger weekday mornings from 5-9 a.m. on 成人X站 Newsradio, 97.3 FM. Subscribe to the podcast here.

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Photo: Beth's Cafe....
Healthcare company pays Washington more than $1M for overbilling /local/healthecare-company-pays-washington-more-than-1m-overbilling/4028192 Mon, 13 Jan 2025 21:18:00 +0000 /?p=4028192 A healthcare company was ordered to pay the state of Washington more than $1 million, according to from the Washington State Attorney General’s (AG) Office on Monday.

The AG’s Office stated a Medicaid Fraud Control Division investigation revealed Lincare Inc., which provides oxygen tanks, overbilled its patients. Therefore, the company was ordered to pay out $1.15 million.

“This will reimburse the state鈥檚 Medicaid program for Lincare鈥檚 fraudulent overbilling of leased oxygen equipment,” the AG’s Office said.

According to the news release, Lincare is headquartered in Florida and provides in-home respiratory devices to patients throughout the U.S. It also offers services such as renting and servicing oxygen equipment to patients with respiratory conditions who rely on the equipment to breathe. The company keeps a billing office in Spokane Valley to manage Pacific Northwest operations.

The Washington budget mystery: How big is the state鈥檚 deficit really?

The AG’s Office noted Medicaid provides oxygen equipment on a five-year contract and, under Washington law, Medicaid pays rental fees on oxygen equipment for three years. Providers like Lincare can continue to bill for maintenance and supplies for an additional two years, but may no longer charge rental fees. The AG’s Office said after that, the device is eligible for replacement.

Washington State Attorney General Bob Ferguson asserted between January 2017 and March 2023, Lincare knowingly billed rental fees beyond the allowed three years more than 15,000 times. In some instances, Ferguson said Lincare continued to bill Medicaid rental fees for six years, twice the legal limit.

“The Attorney General鈥檚 Office Medicaid Fraud Control Division estimates Lincare overbilled Medicaid for 565 Washington patients by more than half a million dollars,” the news release stated.

However, this isn’t the first time Lincare has owed the state money. In 2023, the company entered into a $29 million resolution with U.S. Attorney for the Eastern District of Washington Vanessa Waldref. The Attorney’s Office for the Eastern District of Washington called it the “largest-ever healthcare fraud settlement in Eastern Washington.”

Waldref announced Lincare agreed to pay $29 million and “perform extensive corrective actions to resolve allegations that it fraudulently overbilled Medicare and Medicare Advantage Plans for oxygen equipment,” as stated in .

Local crime: Edmonds Police searching for 5 suspects involved in waterfront shooting

According to the AG’s Office, the 2023 resolution required the company to “significantly” change its billing practices and, at its own expense, hire independent experts to review its work. Shortly after Waldref’s resolution, the Medicaid Fraud Control Division鈥檚 investigation began.

The news release stated as part of the legal agreement, Lincare will have to comply with Washington’s oxygen leasing laws and will also ensure it has internal controls to prevent further violations.

Julia Dallas is a content editor at MyNorthwest. You can read her stories听here. Follow Julia on听听and email her听here.

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Challenging real estate market claims more victims /money/challenging-real-estate-market-claims-more-victims/4027419 Fri, 10 Jan 2025 20:16:55 +0000 /?p=4027419 Redfin announced a new round of layoffs Thursday, The Seattle-based real estate company said 46 managers will be let go and confirmed no agents were impacted.

Redfin, which employs over 4,000 people, has faced multiple rounds of layoffs over the past two years due to a challenging real estate market. The company said it will continue to hire more agents.

Related news: Seattle mayor鈥檚 plan to double housing capacity sparks debate, concern among city council

Mortgage rates reached 6.93%听 this week, the highest level since July. Experts said this has contributed to increased home listings, partly due to unsold homes remaining on the market. However, Redfin said affordability did not worsen in 2024.

In response to a housing market slowdown in 2022, Redfin laid off staff and discontinued its iBuying program, a service that allowed property owners to sell their homes directly to Redfin without the need for a showing. The company also reduced its workforce by 4%, or 201 employees, in April 2023, followed by another round of layoffs in August 2024.

US homelessness rises 18%: It is over 31K in WA as affordable housing remains an issue

Despite these challenges, Redfin reported a 3% revenue growth to $270 million in its most recent quarter, though its net loss increased to $33 million from $19 million in the same period last year.

This latest round impacts managers at headquarters, program and field leadership roles.

The real estate industry has also seen significant changes following a settlement with the which led to a substantial shift in the agent commission structure. Last year, Redfin introduced Redfin Next, a new compensation model for its agents that eliminated salaries and has since expanded to more cities. The company competes with realtor.com, trulia.com and zillow.com.

Bill Kaczaraba is a content editor at MyNorthwest. You can read his stories here. Follow Bill on and email him here.听

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Photo: A Redfin "For Sale" sign stands in front of a Seattle house....
Consumer Man: ‘Junk fees’ transparency to take effect mid-year /money/consumer-man-junk-fees-transparency-to-take-effect-mid-year/4027364 Fri, 10 Jan 2025 18:15:18 +0000 /?p=4027364 In a significant move to protect people from hidden charges, the has finalized a new rule requiring transparent pricing for hotel rooms, vacation rentals and live event tickets. This rule, announced in mid-December, aims to eliminate so-called “junk fees” that often surprise consumers at checkout.

Consumer Man Herb Weisbaum, a contributing editor at Checkbook.org, joined “Seattle’s Morning News” on 成人X站 Newsradio Friday to discuss the implications of this new regulation.

“It’s difficult to comparison shop when the online prices displayed are not the true cost,” Weisbaum explained. “These mandatory fees, whether called service fees, convenience fees, or resort fees, drive up the total cost of the room or ticket.”

The FTC’s new rule, set to take effect mid-year, mandates consumers be shown the honest, all-in pricing upfront. This change is expected to make comparison shopping easier and save consumers billions of dollars and millions of hours spent searching for actual prices, Weisbaum explained.

Money: Macy鈥檚 will close more Washington stores amid financial struggles

Weisbaum clarified the rule does not limit or stop junk fees but requires transparency.

“They can charge whatever they want; they just have to tell you about it,” he said.

Host Charlie Harger shared a personal anecdote about hidden fees while shopping for a car stereo.

“Their advertisement was $300 with free installation, but when they told me it was going to be $1,200, I just walked out the door,” Harger said, highlighting many consumers’ frustration.

Weisbaum noted the rule covers only live event ticketing and lodging, not other areas where hidden fees are prevalent.

“The original proposal was to cover more, but the FTC had to scale back to get it through,” he said.

Despite this, the rule has received positive reactions from some industry players, including Live Nation, which owns Ticketmaster. Following the backlash from the Taylor Swift ticketing fiasco in 2022, Ticketmaster adopted all-in pricing voluntarily.

The new rule has also prompted some big hotel chains to start listing both the per-night and all-in rates, including all fees, making it easier for consumers to compare prices accurately.

However, Weisbaum cautioned that the industry might not be entirely on board.

“There’s been a trend to file lawsuits just before new rules take effect,” he said.

The FTC received 60,000 comments on the proposed rule, reflecting public interest and concern.

Keep your brain sharp: Simple lifestyle changes backed by Seattle research

In addition to the junk fee rule, Weisbaum discussed a new rule from the regarding medical debt. Set to take effect mid-year, this rule will remove unpaid medical bills from credit reports, potentially improving credit access for millions of Americans.

“It’s not a predictor of how good a credit risk you are,” Weissbaum explained, noting that medical debt often arises unexpectedly.

The incoming administration’s stance on these rules remains uncertain.

“They could try to change the rules or choose not to enforce them,” Weissbaum said, underscoring the ongoing battle to protect consumer rights.

For more detailed information, Weissbaum’s insights can be found on .

Bill Kaczaraba is a content editor at MyNorthwest. You can read his stories here. Follow Bill on and email him here.听

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Onomen Uduebor faces a three-count indictment for allegedly stealing and misusing tax information....
Macy’s will close more Washington stores amid financial struggles /money/macys-will-close-more-washington-stores-amid-financial-struggles/4027320 Fri, 10 Jan 2025 17:00:29 +0000 /?p=4027320 Macy’s is set to close three stores in Washington as part of its ongoing efforts to refocus on its most successful properties. The affected locations are South Hill Mall in Puyallup, Redmond Furniture on NE 24th Street and Kitsap Mall in Silverdale.

The company announced last February it would close 150 stores by the end of 2026. The retailer is focusing on its high-end brands and plans to invest in its 350 remaining locations, Tony Spring, Macy’s chair and CEO, said in a statement. Spring stated that closing underperforming stores will allow the company to “focus resources and prioritize investments.”

Macy’s said that clearance sales will begin in January and will run for approximately eight to 12 weeks. For most furniture galleries, clearance sales will start in February and run for approximately six weeks.

Related news: Washington Macy鈥檚 workers strike for higher wages, better crime protection

According to overall sales for Macy’s declined 2.4% to $4.7 billion in the third quarter of 2024.

However, sales at the company’s most successful 50 locations rose 1.9%, marking a third consecutive quarter of sales growth, . Sales at Macy’s properties Bloomingdale鈥檚 and Bluemercury showed increased sales, as well, compared to a year ago.

The department store sector has been struggling for years. Retailers have seen the bankruptcies of major chains such as Sears, JCPenney and Neiman Marcus. Recently, Kohl’s announced it would close 27 stores by April.

Keep your brain sharp: Simple lifestyle changes backed by Seattle research

The plans to shutter stores go back to as early as 2020, before the pandemic. Macy’s planned to close around 125 stores as part of a three-year plan. However, the company fell short of its target, closing 80 stores. Last year, the retailer closed another five stores.

The retailer announced in February 2024 plans to shut down 150 “underproductive” Macy’s store locations by 2026. The plan “is designed to return the company to sustainable, profitable sales growth,” Macy’s said in a press release Thursday. Macy’s still plans to close a total of about 150 underproductive stores while investing in its 350 current Macy鈥檚 locations through the company’s 2026 fiscal year, which ends January 30, 2027, the company said in a press release.

“Closing any store is never easy, but as part of our Bold New Chapter strategy, we are closing underproductive Macy鈥檚 stores to allow us to focus our resources and prioritize investments in our go-forward stores, where customers are already responding positively to better product offerings and elevated service,” Spring said in a statement.

Bill Kaczaraba is a content editor at MyNorthwest. You can read his stories here. Follow Bill on and email him here.听

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Photo: Macy's is planning on closing more stores in 2025....