Caterpillar putting plant in Spokane County
Published 12:01 am Saturday, June 25, 2011
When it opens next year in Spokane County a new Caterpillar distribution center will employ more than 100 warehouse workers. Gov. Chris Gregoire says $235,000 in state assistance helped clinch the deal announced Thursday by the heavy equipment company. The state provided $135,000 to the Greater Spok
ane organization to help recruit the company and $100,000 to train workers. The Spokesman-Review reports Caterpillar also may benefit from a tax-increment financing district that diverts property tax revenue from new construction to help pay for roads and utilities.
State names division of banks director
The Washington state Department of Financial Institutions has named Richard Riccobono as the new director of the agency’s Division of Banks. Riccobono began his career in the financial industry in 1985 as a senior tax consultant and spent 20 years in the financial services industry as a banker and regulator. He holds a juris doctorate degree from the Western New England School of Law in Springfield, Mass., and a bachelor’s of science degree from State University of New York. Riccobono was selected from more than 30 applicants. Riccobono, known in the banking industry as a strong supporter of community banks, said this position offers him the opportunity to give back to the community as a public servant. His tenure begins July 18.
Google responds to antritrust allegation
Federal regulators have begun a formal antitrust investigation into Google’s business practices. In a blog post Friday, the Internet search giant said it received notification from the Federal Trade Commission of the review on Thursday. Google said “it’s still unclear exactly what the FTC’s concerns are.” But the inquiry is expected to focus in large part on whether Google abuses its dominance of Internet search to extend its influence into other lucrative online markets, such as mapping, comparison shopping and travel. Rivals complain that Google, which handles 2 out of every 3 Internet searches in the U.S., manipulates its results to steer users to its own sites and services and bury links to competitors.
Go Daddy close to deal with two firms
Go Daddy, the domain-name registration company known for its racy Super Bowl ads, is close to being bought by two private investment firms for up to $2.5 billion, according to a person close to the deal. A deal is expected by Tuesday, said the person, who spoke on condition of anonymity because the transaction hasn’t been publicly announced. The deal is being led by Silver Lake Partners and KKR & Co., according to the person. Silver Lake’s investment portfolio includes a variety of tech companies, while KKR’s spans a number of industries, including technology.
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