Jul 09, 2020
Bellevue-based Symetra Life Insurance Co. is partnering with the Nassau Re/Imagine insurance technology incubator in Hartford, Connecticut, to tap opportunities in that region's insurance industry talent pipeline. Nassau Re/Imagine supports 19 startups focused on solving critical problems for the life, annuity, reinsurance, and property and casualty sectors. As part of the deal, Harry Monti, executive vice president of Symetra's Benefits Division, is joining the Nassau Re/Imagine advisory board. Symetra provides employee benefits, annuities and life insurance.
In Medford, Oregon, People's Bank of Commerce promoted Lindsey Trautman from controller to CFO and Julia Beattie from chief lending officer to president. Trautman joined People's Bank in 2005 and has been a credit analyst, accounting specialist and accountant. Beattie began her banking career in 1991 at Union National Bank of Texas. She moved to Oregon a year later and worked at Western Bank in Medford until 2000. She later worked at South Valley Bank & Trust in Klamath Falls until joining People's Bank in 2013. Trautman replaced Russ Milburn, who retired after serving as CFO since 2007. Beattie takes over for People's Bank co-founder Ken Trautman, who remains as CEO.
iHeartMedia launched a new standalone business unit called BIN: Black Information Network. BIN is a national and local news audio service focusing on the Black community while informing those outside the community to help foster communication, accountability and a deeper understanding. Instead of traditional ad-supported media, BIN is supported by founding partners Bank of America, CVS Health, Geico, Lowe's, McDonald's USA, Sony, 23andMe and Verizon. Its markets include Seattle and other cities across the country. Tony Coles, a 35-year radio veteran and iHeartMedia division president, was named president of BIN. Coles was program director at KRWM/KLSY in Seattle from 1999 to 2003.
The Cloud Security Alliance and the International Systems Security Association said they will collaborate on a variety of initiatives to support and strengthen the cybersecurity profession. The two organizations will share education content, research findings, participation in the SECtember conference scheduled for Sept. 14-18 in Seattle, and other initiatives. Ferndale-based CSA defines standards, certifications and best practices to help ensure a secure cloud computing environment. ISSA is a nonprofit for the cyber professional community that supports career growth.
In 2021, Seattle-based Amazon will open an 825,000-square-foot fulfillment center in Little Rock, Arkansas, that will create over 1,000 full-time jobs. Those employees will work alongside robots to pick, pack and ship small items such as books, electronics and toys. Later this year, Amazon plans to open an 85,000-square-foot delivery station in Little Rock where packages from fulfillment centers will be loaded into vehicles for “last mile” delivery.
Seattle-based Expedia Group is selling $500 million of unsecured 3.6% senior notes due in 2023 and $750 million of unsecured 4.63% senior notes due in 2027 in a private offering. Expedia expects to use the proceeds to redeem outstanding shares of its 9.5% Series A preferred stock after May 5, 2021, when the redemption premium is scheduled to decrease. It could also use all or part of the proceeds for general corporate purposes. The private offering is expected to close on Tuesday.
Jul 08, 2020
Gov. Jay Inslee appointed Kelly Fukai to serve on the state Transportation Commission. Fukai is manager of public and external affairs at Spokane International Airport, and has over 20 years of experience developing plans and policies that grow infrastructure, enhance economic and workforce development, and support community interests. She is serving a six-year term on the commission and replaces Joe Tortorelli, who served two terms.
In Portland, Smarsh hired Barry Allen as CFO and promoted Suzanne Rudnitzki to COO. Allen previously was CFO of Jama Software in Portland, where he helped shift that company to a software-as-a-service enterprise. Prior to that, he held roles of CFO, COO and president at advertising and licensing company Corbis. Rudnitzki joined Smarsh in 2018 as the company's first chief people officer. In her new role, she leads the legal and information security, human resources, management information systems, diversity and inclusion, and facilities teams. Prior to joining Smarsh, she was senior vice president of human resources at Telecare. Smarsh archives electronic communications for regulated organizations, including banks and government agencies.
Vancouver fitness equipment manufacturer Nautilus plans to sell its Octane Fitness line so it can focus solely on the home fitness equipment market. Octane Fitness customers are primarily health clubs, professional sports teams, colleges and universities, municipalities and corporations. Nautilus has retained investment banker William Blair as its adviser for the potential transaction.
In Kirkland, Imagine Housing is sponsoring an emergency rental assistance fund to help its residents who are unable to pay rent due to financial hardship related to the pandemic. The nonprofit provider of affordable rental homes and social services in east King County allocated $100,000 to start the fund, with the aim of seeking additional outside donations. Eastside Legal Assistance Program is administering the fund.
Seattle-based Darigold and the Northwest Dairy Association announced a goal to achieve carbon neutrality by 2050. They plan to reach that goal by investing in renewable energy technologies and energy efficiency, promoting farm-level carbon sequestration projects, and modernizing the processing and transportation network. They had previously announced a goal to reduce carbon emissions 20%-30% by 2030. Darigold is the marketing and processing subsidiary of Northwest Dairy Association, which is a co-op owned by over 430 dairy farms.
Bothell-based Molina Healthcare of Washington is committing $15 million to support its primary care and substance use disorder providers across the state. The support comes of the heels of Molina's recently announced $1 million COVID-19 community response plan, which helps local communities and organizations affected by the pandemic. Molina provides government-funded care for low-income individuals through Medicaid, Medicare and the Health Benefit Exchange programs.