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Puget Sound Business Journal
Seattle Times publisher and CEO to step down next year
Seattle Times publisher and CEO Frank Blethen will step down at the end of 2025, the newspaper reported Monday.<\p> The 79-year-old Blethen has helmed The Seattle Times since 1985. Blethen, the newspaper’s seventh publisher, became publisher and CEO after the previous publisher, Jerry Pennington, died in a boating accident. Blethen's career at the Times started in 1968 as an assistant credit manager.<\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
Veeam acquires ransomware recovery company
Kirkland-based cybersecurity company Veeam has acquired Coveware, a ransomware recovery company headquartered in Norwalk, Connecticut. <\p> A Veeam spokesperson said all Coveware employees are joining Veeam, which moved its headquarters from Columbus, Ohio, to Kirkland during the first quarter, and Veeam is gaining more than 30 employees through the acquisition. The spokesperson added Veeam has more than 5,000 employees globally.<\p>
Red Lobster closes Puget Sound-area restaurant
In the face of financial difficulties across the country, Red Lobster has closed one of its Seattle-area restaurants.<\p> The restaurant chain lists as “temporarily closed” its location at 3208 NW Randall Way in Silverdale, at an outparcel of the Kitsap Mall. Equipment from the restaurant is up for bid through May 16 on an auction site.<\p>
Editor's notebook: Nonprofit staffing shortages reflect flawed system
How we give can be just as important as what we give. That’s my nice way of saying that our relationship with nonprofits — and the people who make them run — is dysfunctional. Charity implies a certain power dynamic — a giver and a receiver....
Skytap acquired by IT services giant
Seattle-based cloud company Skytap has been acquired by Kyndryl Holdings Inc. (NYSE: KD), an information technology services company headquartered in New York City.<\p> The companies announced the deal Monday but didn't disclose the financial terms. The acquisition comes after Skytap raised $18 million in October from Vistara Growth.<\p>
Alaska Airlines names new head of fleet strategy
Alaska Airlines (NYT: ALK) has named a new leader to oversee its fleet development and planning. <\p> The SeaTac-based airline announced Monday it has promoted Shane Jones to serve as its first senior vice president of fleet, revenue products and real estate. <\p>
Melinda French Gates to leave Gates Foundation
Melinda French Gates is resigning as co-chair of the Bill & Melinda Gates Foundation, she announced on Monday in a post on the social media platform X.<\p> "I am taking this step with full confidence that the foundation is in strong shape, with its extremely capable CEO Mark Suzman, the Executive Leadership Team, and an experienced board of trustees in place to ensure all its important work continues," she said. "The time is right for me to move forward into the next chapter of my philanthropy."<\p>
Pike Place Market recovery plan targets Seattle-area residents
Pike Place Market wants more locals to return to the historic 9-acre district. <\p> That's one of the key goals of the market's new master plan, adopted by the Pike Place Market Preservation and Development Authority, to guide the district through its pandemic recovery. <\p>
Why Amazon's recent moves bode well for a cooling CRE market
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at a bankruptcy health care system's hospital sale; a $3.3B investment from Microsoft that will help establish an artificial intelligence hub; and what you need to know about upcoming changes to overtime rules. But we'll start with the dynamics in this once-hot commercial real estate subsector.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Higher-for-longer rate environment means more uncertainty for CRE
Commercial real estate investors, owners and occupiers all have been monitoring whether the Federal Reserve will impose interest-rate cuts in 2024 after rapidly rising rates have substantially increased the cost of doing business.<\p> Earlier this month, the Fed signaled it needed to see more progress toward its inflation target of 2% and decided to maintain its key lending rate. At that meeting, Fed Chairman Jerome Powell said gaining greater confidence around inflation "will take longer than previously expected," although he also said he felt inflation would move back down in 2024.<\p>
Sports Commission CEO on Seattle's next targets after 2026 World Cup
Beth Knox has been in the sports event business for more than three decades. But when the Seattle Sports Commission was spun out of the Greater Seattle Chamber of Commerce in 2020, there wasn’t much of a playbook for her to follow.<\p> That gave her the chance to shape the role of president and CEO of the new nonprofit organization herself.<\p>
Remitly hires former DreamBox executive as chief people officer
Seattle-based remittance company Remtily Global Inc. (Nasdaq: RELY) has named Ronit Peled as the company's new chief people officer.<\p> Peled, who was announced in her new role Tuesday, spent more than two years at the Bellevue-based education tech company DreamBox Learning before joining Remitly. A Remtily spokesperson said René Yoakum, the company's executive vice president of customer and culture, has been handling the chief people officer duties since last year.<\p>
Largest benefit events in the Puget Sound region
Information on The List was provided by organization representatives and the Puget Sound Business Journal reporting. Only those who responded to our queries or had reliable information available elsewhere were included. The PSBJ defines the Puget Sound...
PNC Bank invests in Seattle arts and early childhood education efforts
The Puget Sound Business Journal's annual Corporate Citizenship Awards program recognizes companies in Washington that give back to their communities and inspire change through their philanthropy.<\p> PNC Bank, with its 160-year history, is only a recent addition to the Pacific Northwest. But it’s become a valuable part of the region’s arts and education networks.<\p>
Seattle Seahawks write equity efforts into their philanthropic playboo
The Puget Sound Business Journal's annual Corporate Citizenship Awards program recognizes companies in Washington that give back to their communities and inspire change through their philanthropy.<\p> The Seattle Seahawks are weaving diversity and inclusion into the way they approach both business and community giving.<\p>
Seattle-area schools get a summer makeover from this homebuilder
The Puget Sound Business Journal's annual Corporate Citizenship Awards program recognizes companies in Washington that give back to their communities and inspire change through their philanthropy.<\p> Shea Homes has built more than 100,000 homes across the country, and in Washington, it’s made support for education part of its own foundation.<\p>
Kaiser Permanente's giving takes aim at the root of community health
The Puget Sound Business Journal's annual Corporate Citizenship Awards program recognizes companies in Washington that give back to their communities and inspire change through their philanthropy.<\p> Kaiser Permanente Washington understands good health extends far beyond the doctor’s office. <\p>
Sellen Construction directs dollars toward education, apprenticeships
The Puget Sound Business Journal's annual Corporate Citizenship Awards program recognizes companies in Washington that give back to their communities and inspire change through their philanthropy.<\p> Sellen Construction CEO Scott Redman refers to 65 of the company’s 680 employees as “the family.”<\p>
Former CEO of Seattle startup pleads guilty to wire fraud charge
The former CEO of a Seattle-based medical device company pleaded guilty on Wednesday to one count of wire fraud related to a scheme in which he allegedly bilked investors out of millions of dollars. More than a decade ago, Stephen Baird pitched investors...
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