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Puget Sound Business Journal
Amazon exec puts Bainbridge Island home up for sale (Photos)
A Bainbridge Island couple is selling their 3,900-square-foot beach house-style home for $4.49 million.<\p> Chance Wales, the general manager of Amazon's Home Improvement Group, and Temre Jenkins, a human resources consultant, listed their three-bedroom, four-bathroom home at 9844 NE Lafayette Ave. in May. <\p>
Seattle-based industrial AI startup lands more funding
Seattle-based artificial intelligence startup Phaidra announced Tuesday it has raised $12 million.<\p> With the funding, Phaidra has now raised $60.5 million since its 2019 founding. The round builds on a $25 million raise in 2022.<\p>
A popular job-posting strategy can backfire
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> The hiring process sparks plenty of questions for employers and candidates alike. <\p>
More Washington public companies are 'going dark'
U.S. stock indexes are at all-time highs, but Washington-based companies are increasingly leaving public markets or staying private.<\p> Over the last four years, 31 Washington-based public companies have been delisted from a stock exchange, a Puget Sound Business Journal analysis of U.S. Securities and Exchange Commission filings found.<\p>
Why this exec joined Kemper Development after college and never left
Jennifer Leavitt was a college senior studying marketing and needed an internship to graduate.<\p> A Bellevue native, her mother suggested she try Bellevue Square. She interviewed but never heard back. After a few attempted calls, the hiring manager told her he hired someone with 10 years of experience.<\p>
MOD Pizza reportedly eyes bankruptcy filing
Fast-casual dining chain MOD Pizza is preparing a potential filing for bankruptcy, per a report from Bloomberg. <\p> The Bellevue-based company could submit the filing as early as next week, a source told the news site, though plans may still change.<\p>
Microsoft conducts another round of layoffs
Microsoft Corp. (Nasdaq: MSFT) is making another round of layoffs just before the Fourth of July holiday, according to multiple reports. <\p> It's unclear how many jobs the Redmond-based tech giant has cut or which divisions are affected. Posts on the social platform X and LinkedIn suggest affected employees include project and product managers in the company's Xbox unit. <\p>
Battery tech company outlines plans for Moses Lake plant
Alameda, California-based battery tech company Sila wants to hit the ground running when it opens its plant in Moses Lake in central Washington.<\p> Sila, which raised $375 million in late June, has already hired dozens of workers in Moses Lake but is planning to hire around 100 in the near term as the plant approaches completion, slated for in the first quarter of next year. Deliveries to auto customers are expected to start late next year.<\p>
Topgolf closes one of its Seattle-area locations
Topgolf has closed its first-of-its-kind Topgolf Lounge at Kirkland Urban, but another tenant is teed up to replace it. <\p> The Dallas-based golf and entertainment company opened the 7,761-square-foot indoor golf simulator lounge, with a full restaurant and bar, at the mixed-use development in January 2020. At the time, a Topgolf executive said the concept was at "the forefront of the ‘eatertainment’ movement." <\p>
These are America's most-delayed flights
Airlines are expecting record-breaking traffic for the summer — and for the July Fourth holiday — but fliers on many routes would be wise to build in some extra time for their travel plans. <\p> That's according to an analysis by The Business Journals of the latest on-time data from airline analytics company Cirium Inc. The analysis looked at routes with at least 20 flights. <\p>
Redevelopment of Bellevue shopping center advances at slow pace
Wallace Properties' plan to redevelop a 1970s-era shopping center on the north edge of downtown Bellevue includes redoing the retail and adding 895 multifamily units in one high-rise and three mid-rise towers.<\p> Until Wallace pins down critical entitlement issues, it can't set a construction start date, President Kevin Wallace said Monday. Further complicating matters is the tough financing environment.<\p>
First multifamily units open at Sunrise development in South Hill
Corliss Management Group has completed the first of nearly 1,000 multifamily units planned for the Sunrise master-planned community in Puyallup’s South Hill area.<\p> The developer has just opened the first two buildings at The Douglas at Sunrise, a 120-unit apartment complex that will include five buildings when completed. Each building has 24 units. At least three units have been leased.<\p>
Inslee headlines kickoff for campaign to close WA's gender pay gap
More than 100 people filled Nectar Lounge in Fremont on Friday to kick off Activate 3.8, a statewide campaign to address the gender pay gap. <\p> People ate egg sandwiches from the Sunny Up food truck outside and wore black-and-pink T-shirts that read "Half the state," referring to the 3.8 million women who make up half of Washington's population. The sandwiches had names such as "Mia Ham," "Nina Smoked Salmone" and the "Ruth Tater Ginsburg.<\p>
Russell Investments confirms HQ move to Rainier Square
A Russell Investments spokesperson on Tuesday confirmed the Business Journal's report that the global investment firm is moving its Seattle headquarters to Rainier Square.<\p> The spokesperson did not elaborate beyond saying the Business Journal article's "mention of Russell Investments was accurate." He hinted more information would be coming, writing in an email, "We're not commenting further for today's deadline."<\p>
Judge dismisses Seattle homeowner's challenge to city MHA law
The first constitutional challenge to Seattle's Mandatory Housing Affordability (MHA) law was dismissed Friday by U.S. District Court Judge, but plaintiff Anita Adams and her attorneys say the fight isn't over.<\p> Adams, a lifelong resident of the Central District, challenged MHA a year and a half ago, arguing it violates the Fifth Amendment's prohibition of government takings. She and the Institute of Justice, a nonprofit public interest law firm, said the prospect of having to pay tens of thousands of dollars in MHA fees crushed her and her husband's dream of building housing in their backyard for their adult children and her husband's father.<\p>
Why EY's new Seattle office leader wouldn't hire his younger self now
Christian Tinder remembers his first day at EY almost 25 years ago.<\p> "This is kind of old school. They sent us down the street to take headshots," Tinder said. "I remember the admin at the time, the reception person, saying that my name sounded like I should be more of a magician than an accountant."<\p>
Among small businesses, there's a huge divide on finances
The smallest businesses are the ones most likely to be struggling, as larger small businesses report better conditions.<\p> The latest data from the Federal Reserve’s Small Business Credit Survey — released earlier this year but since followed up with a more detailed breakdown by size and demographics — shows how, even within the realm of small businesses, there is wide variation.<\p>
Financial services firm expands to downtown Tacoma
Financial services firm D.A. Davidson & Co. is entering the South Sound market with the lease of an office in downtown Tacoma. The company announced the expansion in June.<\p> The Great Falls, Montana-based company will move into a 3,300-square-foot space in the Tacoma Centre building at 1145 Broadway. A $175,000 tenant improvement project is expected to begin this month. <\p>
Valuations of King County office properties poised for steep drop
The King County Assessor's Office on Monday said it anticipates valuations of most residential areas will increase 10% on average for tax year 2025, while valuations of Seattle office properties could fall by up to 40%.<\p> Each year, county assessors set values on every residential and commercial property, and these values are applied to the next year's tax bill. Property owners will start to receive valuation notices soon, the office said. Receipt triggers a 60-day window when a property owner can appeal the new value.<\p>
Tomo co-founder steps down from leadership role
Tomo co-founder Carey Schwaber Armstrong is leaving the chief operating officer role at the real estate fintech startup.<\p> Schwaber Armstrong, a former Zillow executive who co-founded Tomo in 2020, announced the decision in a Saturday post on LinkedIn. She will keep her position as board director at Tomo.<\p>
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