January-Issue-1 2013

 

Archive »AJC Issue Archive Departments

Federal Reserve pays government $88.9 billion

The Federal Reserve paid the federal government a record $88.9 billion in 2012. The central bank earned the money from the Treasury bonds and mortgage-backed securities it has purchased to drive interest rates lower and boost the economy.
MARTIN CRUTSINGER, AP Economics Writer

Kodiak woman sentenced in embezzlement case

A Kodiak woman has been sentenced to four months in prison for her role in an embezzlement scheme involving a seafood company.
Associated Press

Some fuel may have leaked from drill rig lifeboats

Officials say it's possible that as much as 270 gallons of diesel fuel may have been released from tanks on four lifeboats dislodged while a damaged floating drill rig was grounded on a remote Alaska island.
Associated Press

US tells banks to guard against Iranian activity

The Obama administration wants U.S. banks to enhance monitoring of exchange houses in the Middle East and elsewhere for Iranian attempts to evade economic sanctions.
BRADLEY KLAPPER, Associated Press

Stocks edge higher on Wall Street

The stock market edged higher on Thursday as investors waited for more indications on the health of U.S. companies from earnings reports. Economic reports were mixed.
STEVE ROTHWELL, AP Business Writer

Oil slips as US crude and gasoline stockpiles grow

The price of oil slipped below $93 a barrel Wednesday, as a report of rising U.S. crude supplies outweighed a forecast for higher demand this year from aluminum giant Alcoa.
The Associated Press

Salazar, Coast Guard announce drill vessel reviews

A day after Royal Dutch Shell PLC towed a damaged floating drill rig to shelter from a remote Alaska island, Interior Secretary Ken Salazar announced the department will perform an "expedited, high-level assessment" of the 2012 Arctic offshore drilling season.
DAN JOLING, Associated Press

Jack Lew expected to be next Treasury Secretary

White House chief of staff Jack Lew is President Barack Obama's expected pick to lead the Treasury Department, with an announcement possible before the end of the week.
JULIE PACE, AP White House Correspondent

State sues Fairbanks wood-burners

The state of Alaska is suing owners of two Fairbanks outdoor wood boilers, claiming they're violating public nuisance laws.
Associated Press

Watchdog says tax law too complex for most filers

The nation's tax law is so thick and complicated that businesses and individuals spend more than 6 billion hours a year complying with filing requirements. That's the equivalent of 3 million people working full-time, year-round.
STEPHEN OHLEMACHER, Associated Press

Inspections planned for Kulluk

Inspectors will descend upon a remote Kodiak Island bay to investigate whether a Royal Dutch Shell LLC drilling vessel will need repairs after spending nearly a week aground.
Dan Joling, Associated Press

Juneau officials say earthquake damage suspected

Juneau officials say the powerful earthquake that struck southeast Alaska late Friday night was possibly to blame for damage to a sewer line and two water valves.
KINY

Oil down slightly, natural gas continues to drop

Oil prices are falling Tuesday as traders take their cue from U.S. stock markets, and investors await the start of the earnings season.
Associated Press

US stocks slip ahead of earnings season kickoff

U.S. stocks fell Tuesday as traders awaited the start of the corporate earnings season.
DANIEL WAGNER,AP Business Writer

Fewer business travelers to hit the road in 2013

Fewer business travelers are likely to hit the road this year as the travel industry is challenged by corporate America's persistent economic fears. Business travelers are expected to take 431.8 million trips in 2013, the Global Business Travel Association said Tuesday.
SCOTT MAYEROWITZ, AP Business Writer

Stocks head lower, pushing S&P 500 down from high

Stocks sank on Wall Street, pushing the Standard & Poor's 500 index down from the five-year high it reached Friday.
STEVE ROTHWELL and MATTHEW CRAFT, AP Business Writers

Another aftershock of Alaska earthquake occurs

Seismologists are reporting another aftershock of a powerful Alaska earthquake that prompted a tsunami warning for Alaska and Canada coastlines.
Associated Press

Bank of America in $10 billion mortgage settlement

Bank of America will pay $10.3 billion to the government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash.
STEVE ROTHWELL, AP Business Writer

White House, GOP draw red lines in debt debate

Struggling for the upper hand in the next round of debt talks, Republicans and Democrats this weekend drew lines in the sand they said they'd never cross when it comes to the U.S. debt limit.
ANNE FLAHERTY, Associated Press

UPDATED: Kulluk reaches safe harbor

Shell’s drill vessel Kulluk is now in protected waters in Kiliuda Bay on the east side of Kodiak Island, according to the joint U.S. Coast Guard and Shell team managing the situation.
Tim Bradner, Alaska Journal of Commerce

Shell, Coast Guard continue damage assessment on grounded Kulluk rig

In a situation report issued late Thursday the state Department of Environmental Conservation said a plan to move the Kulluk to a more protected area is being viewed by the Coast Guard and Shell, although it has not yet been approved.
Tim Bradner, Alaska Journal of Commerce

Congress members seek investigation of Shell barge

Members of Congress are calling for an investigation of Royal Dutch Shell PLC's Arctic offshore drilling operations as salvagers develop plans to move a company drill ship off rocks near an Alaska island, where it ran aground in a fierce year end storm.
DAN JOLING, Associated Press

House approves $9.7 billion in Sandy flood aid

More than two months after Superstorm Sandy struck, the House on Friday overwhelmingly approved $9.7 billion to pay flood insurance claims for the many home and business owners flooded out by the storm.
ANDREW MIGA, Associated Press

GM recalls nearly 69,000 vehicles worldwide

General Motors is recalling nearly 69,000 pickup trucks, SUVs and vans worldwide because they can roll away unexpectedly.
The Associated Press

Beluga whales showing no significant increase

The estimated number of endangered Cook Inlet beluga whales is showing a small but insignificant increase.
MARY PEMBERTON, Associated Press

Inspection teams find some damage on grounded Shell rig, but no spill

Shell and U.S. Coast Guard officials are providing few details so far yet on how they might salvage Shell’s drill vessel Kulluk from the shore of a small island off Kodiak’s south coast, but said in a Thursday briefing that some damage to the vessel topside and electrical systems has been found by a team landed on the rig.
Tim Bradner, Alaska Journal of Commerce

Archive »Transportation

Inspections planned for Kulluk

Inspectors will descend upon a remote Kodiak Island bay to investigate whether a Royal Dutch Shell LLC drilling vessel will need repairs after spending nearly a week aground.
Dan Joling, Associated Press

UPDATED: Kulluk reaches safe harbor

Shell’s drill vessel Kulluk is now in protected waters in Kiliuda Bay on the east side of Kodiak Island, according to the joint U.S. Coast Guard and Shell team managing the situation.
Tim Bradner, Alaska Journal of Commerce

Shell, Coast Guard continue damage assessment on grounded Kulluk rig

In a situation report issued late Thursday the state Department of Environmental Conservation said a plan to move the Kulluk to a more protected area is being viewed by the Coast Guard and Shell, although it has not yet been approved.
Tim Bradner, Alaska Journal of Commerce

Archive »Tourism

Ice fishing guides offer winter experience

Ice fishing guides offer winter experience

Frozen water doesn’t have to mean the end of fishing season in Alaska.
MOLLY DISCHNER, ALASKA JOURNAL OF COMMERCE
Anchorage, Fairbanks recognized as top winter destinations

Anchorage, Fairbanks recognized as top winter destinations

Alaska has long been an iconic tourist destination in summer.
ELWOOD BREHMER, ALASKA JOURNAL OF COMMERCE

Archive »Oil & Gas

Inspections planned for Kulluk

Inspectors will descend upon a remote Kodiak Island bay to investigate whether a Royal Dutch Shell LLC drilling vessel will need repairs after spending nearly a week aground.
Dan Joling, Associated Press

Oil down slightly, natural gas continues to drop

Oil prices are falling Tuesday as traders take their cue from U.S. stock markets, and investors await the start of the earnings season.
Associated Press

UPDATED: Kulluk reaches safe harbor

Shell’s drill vessel Kulluk is now in protected waters in Kiliuda Bay on the east side of Kodiak Island, according to the joint U.S. Coast Guard and Shell team managing the situation.
Tim Bradner, Alaska Journal of Commerce

Shell, Coast Guard continue damage assessment on grounded Kulluk rig

In a situation report issued late Thursday the state Department of Environmental Conservation said a plan to move the Kulluk to a more protected area is being viewed by the Coast Guard and Shell, although it has not yet been approved.
Tim Bradner, Alaska Journal of Commerce

Congress members seek investigation of Shell barge

Members of Congress are calling for an investigation of Royal Dutch Shell PLC's Arctic offshore drilling operations as salvagers develop plans to move a company drill ship off rocks near an Alaska island, where it ran aground in a fierce year end storm.
DAN JOLING, Associated Press

State energy audit shows potential savings

An energy audit of Alaska public facilities uncovered some of the most, and least, energy efficient buildings in the state.
ELWOOD BREHMER, ALASKA JOURNAL OF COMMERCE

Federal report: Delay made Yellowstone oil spill worse

BILLINGS, Mont. (AP) — Delays in Exxon Mobil Corp.’s response to a major pipeline break beneath Montana’s Yellowstone River made an oil spill far worse than it otherwise would have been, federal regulators said in a new report.
MATTHEW BROWN, ASSOCIATED PRESS
Trains carrying more oil across US amid Midwest boom

Trains carrying more oil across US amid Midwest boom

BILLINGS, Mont. (AP) — Energy companies behind the oil boom on the Northern Plains are increasingly turning to an industrial-age workhorse — the locomotive — to move their crude to refineries across the U.S., as plans for new pipelines stall and existing lines can’t keep up with demand.
MATTHEW BROWN and JOSH FUNK, ASSOCIATED PRESS
Shell, Coast Guard assess salvage of Kulluk

Shell, Coast Guard assess salvage of Kulluk

Weather conditions improved Jan. 2 at the site of Shell Oil’s drill rig Kulluk grounding on an island near Kodiak.
TIM BRADNER, ALASKA JOURNAL OF COMMERCE

Archive »National Politics

White House, GOP draw red lines in debt debate

Struggling for the upper hand in the next round of debt talks, Republicans and Democrats this weekend drew lines in the sand they said they'd never cross when it comes to the U.S. debt limit.
ANNE FLAHERTY, Associated Press

Congress members seek investigation of Shell barge

Members of Congress are calling for an investigation of Royal Dutch Shell PLC's Arctic offshore drilling operations as salvagers develop plans to move a company drill ship off rocks near an Alaska island, where it ran aground in a fierce year end storm.
DAN JOLING, Associated Press

House approves $9.7 billion in Sandy flood aid

More than two months after Superstorm Sandy struck, the House on Friday overwhelmingly approved $9.7 billion to pay flood insurance claims for the many home and business owners flooded out by the storm.
ANDREW MIGA, Associated Press

Archive »Money Talks

Fund managers: 2013 stock outlook remains positive

BOSTON (AP) — A safe route around the “fiscal cliff” continues to elude Congress and the White House.
MARK JEWELL, AP PERSONAL FINANCE WRITER

Archive »Finance

US stocks slip ahead of earnings season kickoff

U.S. stocks fell Tuesday as traders awaited the start of the corporate earnings season.
DANIEL WAGNER,AP Business Writer

Stocks head lower, pushing S&P 500 down from high

Stocks sank on Wall Street, pushing the Standard & Poor's 500 index down from the five-year high it reached Friday.
STEVE ROTHWELL and MATTHEW CRAFT, AP Business Writers

Bank of America in $10 billion mortgage settlement

Bank of America will pay $10.3 billion to the government mortgage agency Fannie Mae to settle claims resulting from mortgage-backed investments that soured during the housing crash.
STEVE ROTHWELL, AP Business Writer
Despite fiscal cliff deal, taxes to rise for most Americans

Despite fiscal cliff deal, taxes to rise for most Americans

WASHINGTON (AP) — While the tax package that Congress passed New Year’s Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.
STEPHEN OHLEMACHER, ASSOCIATED PRESS
Political brinksmanship still threatens US economy after last-second deal

Political brinksmanship still threatens US economy after last-second deal

CHRISTOPHER S. RUGABER and PAUL WISEMAN, AP ECONOMICS WRITERS

Fund managers: 2013 stock outlook remains positive

BOSTON (AP) — A safe route around the “fiscal cliff” continues to elude Congress and the White House.
MARK JEWELL, AP PERSONAL FINANCE WRITER
Fewer US banks failing as industry strengthens

Fewer US banks failing as industry strengthens

WASHINGTON (AP) — U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008.
MARCY GORDON, AP BUSINESS WRITER

Archive »Editorials

COMMENTARY: NMFS must go back to drawing board on Steller sea lions

The National Marine Fisheries Service imposed draconian fishing limits in 2011 to protect Steller sea lions.
GOV. SEAN PARNELL, FOR THE JOURNAL

FISH FACTOR: 2012 Picks and Pans from a year in Alaska seafood news

Alaska’s seafood industry worked hard this year to ramp up its message to policymakers, especially those from rail belt regions who tend to overlook the industry’s economic significance.
LAINE WELCH, FOR THE JOURNAL
The Bookworm Sez: The Best books of 2012

The Bookworm Sez: The Best books of 2012

Drivel, dreck, and what the heck.
TERRI SCHLICHENMEYER, FOR THE JOURNAL

Archive »Features

Ringing in the new year

Ringing in the new year

Born from community effort, Hilltop celebrates 30 years

Born from community effort, Hilltop celebrates 30 years

Mountains and skiing go together like kids and snow.
ELWOOD BREHMER, ALASKA JOURNAL OF COMMERCE

Archive »Movers and Shakers

Movers & Shakers 01/06/13

Archive »Bulletin Board

BULLETINS 01/06/13

Alaska coal exports will dip in 2012, Land transfer moves forward, Rasmuson Foundation to provide $8.5M to arts

Archive »Science

Beluga whales showing no significant increase

The estimated number of endangered Cook Inlet beluga whales is showing a small but insignificant increase.
MARY PEMBERTON, Associated Press

Archive »Fishery Stories

ADFG predicts uptick in sockeye run for Upper Cook Inlet

ADFG predicts uptick in sockeye run for Upper Cook Inlet

Fishermen could catch a few extra sockeyes in Upper Cook Inlet waterways in 2013.
MOLLY DISCHNER, ALASKA JOURNAL OF COMMERCE
Nonprofit files legal challenge to NMFS observer program

Nonprofit files legal challenge to NMFS observer program

An Alaska nonprofit filed suit in U.S. Alaska District Court Dec. 21 over the new observer program set to take effect Jan. 1.
MOLLY DISCHNER, ALASKA JOURNAL OF COMMERCE

COMMENTARY: NMFS must go back to drawing board on Steller sea lions

The National Marine Fisheries Service imposed draconian fishing limits in 2011 to protect Steller sea lions.
GOV. SEAN PARNELL, FOR THE JOURNAL

FISH FACTOR: 2012 Picks and Pans from a year in Alaska seafood news

Alaska’s seafood industry worked hard this year to ramp up its message to policymakers, especially those from rail belt regions who tend to overlook the industry’s economic significance.
LAINE WELCH, FOR THE JOURNAL

Archive »General News

Juneau officials say earthquake damage suspected

Juneau officials say the powerful earthquake that struck southeast Alaska late Friday night was possibly to blame for damage to a sewer line and two water valves.
KINY

Fewer business travelers to hit the road in 2013

Fewer business travelers are likely to hit the road this year as the travel industry is challenged by corporate America's persistent economic fears. Business travelers are expected to take 431.8 million trips in 2013, the Global Business Travel Association said Tuesday.
SCOTT MAYEROWITZ, AP Business Writer

Another aftershock of Alaska earthquake occurs

Seismologists are reporting another aftershock of a powerful Alaska earthquake that prompted a tsunami warning for Alaska and Canada coastlines.
Associated Press

House approves $9.7 billion in Sandy flood aid

More than two months after Superstorm Sandy struck, the House on Friday overwhelmingly approved $9.7 billion to pay flood insurance claims for the many home and business owners flooded out by the storm.
ANDREW MIGA, Associated Press

GM recalls nearly 69,000 vehicles worldwide

General Motors is recalling nearly 69,000 pickup trucks, SUVs and vans worldwide because they can roll away unexpectedly.
The Associated Press

Inspection teams find some damage on grounded Shell rig, but no spill

Shell and U.S. Coast Guard officials are providing few details so far yet on how they might salvage Shell’s drill vessel Kulluk from the shore of a small island off Kodiak’s south coast, but said in a Thursday briefing that some damage to the vessel topside and electrical systems has been found by a team landed on the rig.
Tim Bradner, Alaska Journal of Commerce