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Puget Sound Business Journal
New documents flesh out Bellevue Club's plan for major expansion
New information recently filed with the city of Bellevue provides additional details about the Bellevue Club's planned expansion, which includes two 16-story residential towers atop a six-story podium.<\p> The towers will "stand as iconic landmarks in the urban landscape," states a new project description submitted to the city. <\p>
Emails show how Bellevue officials tried to keep Microsoft in the city
Days before Microsoft (Nasdaq: MSFT) announced its plans for a major campus renovation and expansion, the company met with Bellevue city officials. The purpose of the meeting was simple but significant. <\p> Despite the implications of its $5 billion headquarters expansion in Redmond, Microsoft affirmed its commitment to Bellevue where it leased several office towers and suburban office parks. <\p>
Asian grocery chain eyes 2nd Seattle-area store
T&T Supermarket appears to be planning a second location in the Seattle area. <\p> The Canada-based Asian grocery chain signed a lease for 30,000 square feet in the former Sprouts space at the Lynnwood Crossroads in late April, per records filed in Snohomish County. The move comes ahead of the grocer opening its first Puget Sound-area store this summer in Bellevue's Factoria neighborhood.<\p>
Resume gaps aren't the dealbreaker they once were, but there's a catch
Job seekers worried about gaps in their resume might still have to deal with some pushback from hiring managers, but the market today has become more forgiving to such openings than it once was.<\p> According to a recent Express Employment Professionals-Harris Poll survey, while 36% of hiring managers said they might be deterred by applicants' unexplained work gaps, the vast majority (95%) believe there are valid reasons to explain career gaps. The top reasons cited were health issues, staying home with a child, going back to school and caring for an elderly parent.<\p>
Seattle Kraken name new head coach
The Seattle Kraken announced Tuesday that Dan Bylsma, head coach of the Kraken's top minor league affiliate, will become the NHL team's head coach next season.<\p> Bylsma is in the middle of a playoffs run with the Coachella Valley Firebirds of the American Hockey League, but has NHL head coaching experience dating back to 2008. After he retired from playing in the league in 2004, he took a few assistant coaching roles before he was named interim head coach of the Pittsburgh Penguins with 25 games left in the 2008-09 season.<\p>
The AI boom is coming for these at-risk manager roles
For years, front-line workers have worried about automation taking their jobs. It may end up being middle managers who are most in danger.<\p> Companies are gaining access to new artificial-intelligence tools and capabilities at the same time many are re-assessing their operations in a challenging post-pandemic economic environment. That combination of potential new efficiencies and a desire for cost savings is putting management-level employees in the crosshairs.<\p>
Gesa Credit Union acquiring Centralia-based bank
Richland-based Gesa Credit Union is acquiring Centralia-based Security State Bank (SSB), the subsidiary of bank holding company Security State Corp.<\p> The institutions expect the deal, which was announced Thursday, to close in 2025, pending regulatory approval and approval from Security State Corp. shareholders. Once the acquisition closes, SSB and its parent company will dissolve.<\p>
Seattle biotech secures $14.5M from DOD
Seattle-based biotech A-Alpha Bio has landed an additional $14.5 million from the Department of Defense to expand its work with the Lawrence Livermore National Laboratory (LLNL). <\p> A-Alpha Bio secured $2.4 million for the project from the DOD in May 2023 and $1 million in 2022. The project centers on generating data and training models for rapid countermeasures against future biothreats, according to a release.<\p>
Mandy Ho puts her psychology background into action UBS
Mandy Ho found her way to wealth management while on the path to a career in psychology.<\p> When she realized how much school it would require to become a practicing psychologist, Ho said she pivoted her major to include communications and then earned her MBA, which led her to wealth management.<\p>
Opinion: Representation matters for building generational wealth
On 95th Street on the South Side of Chicago, just off the freeway and across from a Chicago Transit Authority transportation hub, sits a busy McDonald’s. It’s popular. It’s convenient. It’s successful. <\p> And it wasn’t always there.<\p>
How to build wealth in a topsy-turvy housing market
Daryl Smith is executive director of HomeSight, a government-backed community development financial institution that helps people at or below 80% of the Seattle-area median income (AMI) get on the housing ladder. <\p> “The idea of building generational wealth is foundational to everything we do,” Smith said in an interview in his Columbia City office, just down the hill from the first home he and his wife bought in 1994. <\p>
Seattle media personality puts her Burien oasis on market (Photos)
Jennifer James, a former Seattle-area media personality, is putting her 7,890-square-foot Burien home on the market for $4.9 million.<\p> James, 81, built her reputation as a Seattle Times columnist, a radio show host and a cultural anthropologist at the University of Washington. <\p>
Sound Transit won't alter light rail plans to accommodate Amazon
Sound Transit's board on Thursday rejected alternatives to a planned South Lake Union light rail station, rebuffing an alternative proposal from Amazon.com Inc. (Nasdaq: AMZN), Vulcan Real Estate and other businesses to avoid traffic congestion.<\p> The agency stuck with the plan for a station at Seventh Avenue North and Harrison Street, on the east side of Aurora Avenue North. Amazon and Vulcan both endorsed shifting the station west to Fifth Avenue North and Harrison Street, next to the Seattle Center, an idea introduced in December. <\p>
Real estate commissions shakeup will require more agent scrutiny
The National Association of Realtors and several brokerages have struck big money deals to settle an array of class-action lawsuits around real estate commissions.<\p> It might become harder for homebuyers to figure out how to pick the right agent to work with in the wake of the settlements. That's because the settlements, which now add up to hundreds of millions of dollars, will also bring with them changes in how buying agents are paid, how homes are listed and may require more buyers to pay for an agent directly when buying a home. And if buyers potentially shell out thousands of dollars or more, they will have to do their own due diligence.<\p>
Seattle produces new millionaires at a rapid clip
Seattle has struck it rich when it comes to wealthy individuals. <\p> The Emerald City added about 3,700 newly minted millionaires, nine centimillionaires and one billionaire in 2023, according to a new report by the global wealth management firm Henley & Partners.<\p>
Search for homelessness czar moves 'full-speed ahead' amid concerns
Leading the King County Regional Homelessness Authority (KCRHA) is a job hardly anyone wants. <\p> The search for a permanent CEO has seen two of the three finalists withdraw their bids for the job, which can pay up to $300,000 a year.<\p>
Here's what Overlake's new affiliation with MultiCare entails
Overlake Medical Center & Clinics launched a nationwide search for an affiliation partner two years ago. As it turns out, the Bellevue-based health care provider didn’t have to look far.<\p> On Tuesday, Overlake and Tacoma-based MultiCare Health System announced an affiliation agreement that will result in Overlake becoming part of MultiCare. Overlake and its clinics will become the flagship of MultiCare’s new North Sound region.<\p>
Seattle-based laundry startup sells business
Seattle-based laundry startup Loopie has sold its business to competitors Rinse, headquartered in San Francisco, and HappyNest, headquartered in Rhode Island.<\p> Loopie is giving its Portland customers to HappyNest and its customers in its other eight cities to Rinse. According to a Rinse spokesperson, no Loopie employees are joining Rinse, and Loopie "is exiting laundry and staying together to focus on a new venture."<\p>
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