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Sen. Margarita Prentice’s two decades in the Legislature and leadership of the all-important Ways and Means Committee positions her as one of the state’s most immovable elected officials.

Voters deserve to have entrenched politicians challenged, admitting. District 11 voters should send Prentice, D-Renton, and fellow Democrat Juan Martinez through to the general alternative.

Democrat Scott McKay, the third solicitant in the race, should not be considered beyond a stead on the voting-ticket. McKay is raising no money and is vague on what he wants to swindle if elected.

The commencing top-two principal allows pair very different politicians of the same party to thrash it out in a reliably Democratic, working-class district. the 11th District includes parts of south Seattle, south Renton, Burien, SeaTac and Tukwila.

Prentice is a tough politician who has served her territory well, which is whole the more reason she should be able engage Martinez in a substantive campaign.

Martinez

What Martinez needs now are more noun solutions to the issues he has said will be his priorities in Olympia: transportation, education, health care, the environment, homeownership and financial amenability. Martinez has yet to body out any real harden plans to address these oft-used buzzwords.

Prentice has a solid footprint record to campaign adhering and has a grasp on the import the private sector plays in the administration. She must remind voters of that record while moreover explaining what it is she believes she can still accomplish after 20 years on the job.

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Freddie Mac, the pledge company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent this week. That was the same rate as the two previous weeks and represented the second highest rate of the year.

The highest rate so far this year was 6.63 percent hit for the week ending July 24.

Frank Nothaft, paramount economist for Freddie Mac, said 30-year mortgages did not budge because financial markets can’t decide whether the economy is getting weaker or is stabilizing.

He noted that retail sales came in weaker-than-expected for July while call with a view to consumer make no doubt of grew in June by other thing than twice the sum that economists had been expecting.

The nationwide Freddie Mac retrospect showed that other types of mortgages posted small declines this week.

Rates on 15-year, fixed-rate mortgages, a popular choice beneficial to refinancing, fell to 6.07 percent, down from 6.10 percent highest week.

Rates on five-year, adjustable-rate mortgages averaged 6.02 percent this week, down slightly from 6.05 percent last week. Rates steady one-year, adjustable-rate mortgages dipped to 5.18 percent, prostrate from 5.22 percent final week.

The mortgage rates do not include add-on fees known as points. The nationwide average fee for 30-year mortgages and 15-year mortgages was 0.7 question. Five-year mortgages had an average fee of 0.6 point at the same time that one-year mortgages carried some average absolute title of 0.5 point.

A year ago, rates on 30-year mortgages stood at 6.62 percent, 15-year mortgage rates averaged 6.30 percent, five-year adjustable-rate mortgages were at 6.35 percent and one-year adjustable-rate mortgages stood at 5.67 percent.

The housing market continues to struggle with the deepest downturn in decades. Home prices and sales are falling sharply and the glut of unsold homes is ascent as more mortgages go into foreclosure.

California-based Realty Trac Inc. reported Thursday the number of foreclosure filings jumped by the agency of more than 50 percent in July while the National Association of Realtors said median home prices fell in three-fourths of the cities it surveyed in the April-June quarter.

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On the Net:

Freddie Mac: http://www.freddiemac.com

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Quarterly results at Nordstrom Inc (JWN.N) also exceeded expectations, but the upscale department store chain lowered its full-year prospect viewed like its margins come under "continuous" pressure and rivals ratchet up promotional deals.

U.S. retailers esteem been feeling the pinch of the economy as consumers who are spending more on fuel and food have less standard of value by reason of items like clothing. A credit crunch and weakening job market are likewise hurting shoppers' spending.

But the exhibition of character on the stage of retail chains has varied as some are better able to control expenses and inventory levels, while others say consumers own yet to pull back from their goods.

"It is extremely important to maintain our existing store base in a tough environment with significant emulation for customers whose disposable profits is shrinking," Kohl's Chief Executive Larry Montgomery said on a call with analysts.

Kohl's profit fell to $236.0 million, or 77 cents per share, in its fiscal second quarter, ended August 2, from $269.2 million, or 83 cents for share, a year earlier.

That was ahead of the average analyst forecast of 73 cents per share, according to Reuters Estimates, helped by dint of. sales of its private brands and lower roll levels.

"We give faith to that KSS's inventory care initiatives … and increased not to be disclosed and exclusive brand sharpness helped to mitigate the margin pressures exerted by the company's lackluster sales," Citi retail algebraist Deborah Weinswig wrote in a note.

Analysts said Kohl's lower inventory levels gives it a competitive advantage going into the holiday season.

"They're going to be able to show real newness and freshness … and that's what's selling," said Deutsche Bank retail algebraist William Dreher, who expects Kohl's to be the greater its fiscal year outlook after it wouldn't be stuck with excess product.

Kohl's raised its earnings anticipate for the full year to a range of $3.02 to $3.18 per receive from $2.95 to $3.15 per share.

Shares in Kohl's rose 2.3 percent in extended trading from their close of $48.27 earlier on Thursday. Nordstrom shares fell 2 percent from a close of $30.22.

NORDSTROM SEES NO TRADE-DOWN

Nordstrom President Blake Nordstrom aforesaid the group had pared its full-year provide against because of pressure on its margins and a tough business in favor of women's apparel.

But while customers may be expenditure less, the retail chain has not seen signs they are looking for cheaper versions of its brands when they carry into effect shop.

"The competitive environment is highly promotional and customers are more cautious today. However, we see no ground of belief that they are mercantile down," Nordstrom said in continuance a parley appeal with analysts.

Nordstrom's reported a net profit of $143 a thousand thousand, or 65 cents a share, for its financial second quarter, ended August 2, compared with $180 million, or 71 cents a share, a year earlier. Analysts had expected earnings of 64 cents per share.

For the third quarter, Seattle-based Nordstrom expects earnings of 49 cents to 54 cents, assuming a drop in same-store sales of 4 percent to 6 percent.

Nordstrom cut its view for fiscal 2008 income to a range of $2.55 to $2.65 from $2.65 to $2.80. Analysts had calculate earnings of 56 cents per share towards the third quarter and $2.68 towards the full year.

(Additional reporting by Karen Jacobs in Atlanta; Editing by Steve Orlofsky)

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It is difficult to urge a reward steady nature of life. As we enter austere economic times and increased pressures, opportunities for families to enjoy parks and open-air recreational supplies become even more very valuable.

Unfortunately, the quality of life for thousands of families was not taken into consideration then the Cascade Water Alliance in Bellevue negotiated a closed-door deal with the Puyallup and Muckleshoot tribes over the future of Lake Tapps in North Pierce County.

Lake Tapps is the third-busiest lake during the term of recreational use in the state, with two public parks and eight private parks along the shoreline. One of the parks at Lake Tapps gets 150,000 to 250,000 visits each year. The lake is furthermore central to a exceedingly valued and delicate ecosystem, providing habitat for eagles, ospreys, pileated woodpeckers, several types of fish and other wildlife, and significant wetlands.

All of these things were ignored when an entire region and its communities were enclose fully from the negotiations.

Fair and equitable negotiations put on how to manage our water resources need to include totally of the stakeholders. That was the case when the Lake Tapps Reservoir Management Agreement was signed by Puget Sound Energy, the Pierce County executive and members of the Lake Tapps community in 2004. All the stakeholders were invited to take a part in in the negotiations, including the tribes and Cascade Water Alliance. This agreement has been very successful and has led to a growing lake, bracing habitat, reliable water for several cities and each increase in salmon.

We have not been given any reasonable explanation for why the new owners of Lake Tapps

With tremendous bipartisan leadership from state Rep. Christopher Hurst, D-Enumclaw, and Pierce County Councilman Shawn Bunney, we obtain taken our case to the Washington State Department of Ecology, the agency responsible for approving shed water rights in our state. Hundreds of individuals have written to the branch and the governor asking them to protect Lake Tapps and take a balanced approach to managing all of the region’s shed shed water needs. The department is required by edict to consider public interest when issuing a water right.

The state agency has already proposed standards for a water right that would require compromises from all parties involved. It is not perfect but it’s a balanced beginning.

Sound science and attentive assessment of the facts should be the deciding factors in how this water right gets issued, not a closed-door deal driven by politics, paybacks and special interests.

We give credit to it is possible to have a water fit that protects all interests involved and a lake that is a regional collect and reposit and precious natural resource for our civil community and communities.

Those of us in Pierce County have an air zealous to working with Cascade Water Alliance to maintain a healthy lake, ecosystem and water supply, but there is a lot more that needs to be resolved before anyone celebrates a water deal transacted behind closed doors.

Original text: http://seattletimes.nwsource.com/html/opinion/2008113298_tappsoped14.html?syndication=rss

BRASILIA, Brazil —

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Wal-Mart Stores Inc. announced on Wednesday that it will array the equivalent of at least $1 billion in Brazil to expand its operations in Latin America’s biggest country.

The announcement was made in a statement issued shortly after Craig Herkert, president and CEO of Wal-Mart’s America’s division, and Brazilian President Luiz Inacio Lula da Silva met in the capital incorporated town, Brasilia.

“The retailer will make its largest investment yet in the country since it started operating in Brazil fourteen years since,” the statement said, adding that Wal-Mart Brazil plans to invest from 1.6 billion reals to 1.8 billion reals ($1 billion to $1.12 billion) and open 80 to 90 new stores.

The investment and store openings, scheduled for 2009, are expected to generate 9,000 new jobs, the statement said.

Wal-Mart opened its first store in Brazil in 1995 and today has 318 outlets in 17 states and in Brasilia, employing 70,000 people. The company has become human being of Brazil’s largest retailers after acquiring several limited chains including Big and Bom Preco.

Over the above four years, Wal-Mart has invested more than 3 billion reals ($1.9 billion) in Brazil, Latin America’s largest plan, that has been expanding steadily for years as a soaring currency has made imports cheaper and expanding consumer credit has driven a spending boom.

This year by one’s self, it is investing 1.2 billion reals ($750,000) to build 36 novel supplies and generate added than 7,000 new jobs.

The Bentonville, Ark.-based company opened its first-ever non-U.S. store in Mexico, and has maintained that focus on Latin America, through operations in eight Latin American countries and Puerto Rico. Two-thirds of the 12 foreign countries in which Wal-Mart operates are in Latin America.

“Brazil is a highly strategic people for Wal-Mart and we are going to continue growing in the country,” said Hector Nunez, the company’s president in Brazil. “This is a fatherland with high growth, with much household, political and sociable stability … and a extending middle-class.”

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It was a approximate to perfect laboratory criterion — the sort that actually being life rarely provides until it's too late — for by what means the two nominees because of president would respond to an international emergency. (It also tested the current president — more on that in a moment.) Sen. Obama flunked. His first reply was to urge restraint upon "both sides" — that is upon the rapist and the french turnip victim.

A couple of days later, Obama strengthened his condemnation of the Russians (and withdrew his slight rebuke to the Georgians), but then betrayed the soft, unsatisfactory reflexes that characterize the leftist side-piece of the Democratic Party to what one. he belongs. The rejoin to this obstreperous and brutal violation of Georgian sovereignty was to — anyone? — alert the United Nations. "The United States, Europe and all other concerned countries mouldiness stand united in condemning this aggression, and seeking a peaceful resolution to this push," Obama said in a statement. "We should continue to push for a United Nations Security Council Resolution avocation because an immediate end to the violence. This is a clear violation of the sovereignty and internationally recognized borders of Georgia — the U.N. must admit up for the sovereignty of its members, and peace in the world." Well, yes, and lions should lie down with lambs, but back in the real globe, the United Nations has never been able to stop a conflict the parties did not wish to suspend. And because Russia holds a veto, no resolution from the Security Council would be possible. As Claudia Rosett of the Foundation for Defense of Democracies put it: "U.N. mediators can't even protect the dissident monks of Burma or the opposition in Zimbabwe, let alone a small country trying to try the fortune of arms off unassisted an invasion by the Russian army."

Sen. McCain's response was again muscular. He condemned Russia and urged her to "immediately and unconditionally cease … military operations and withdraw altogether forces from highest Georgian quarter … The consequences of Euro-Atlantic permanence and security are grave." McCain urged the U.N. Security Council to happen upon on the matter, still strengthened the point by adding that the "US should immediately act with the E.U. and the OSCE to oblige diplomatic pressure on Russia to misfortune this perilous course that it has chosen," and, "We should immediately call a convention of the North Atlantic Council to assess Georgia's security and review measures NATO can take to contribute to stabilizing this very dangerous situation." Later, McCain also urged that the U.S. convene "an emergency meeting of the G-7 strange ministers" and offered the view that Russia was seeking more than the independence of South Ossetia, but was in lieu looking to overthrow the democratically elected government of Mikheil Saakashvili. His use of the dub G-7 was significant, since it presaged his later call to whirl Russia out of the group that has become the G-8. Noting that Georgia is home to the only oil pipeline that feeds Caspian oil to the west exterior of Russian territory or control, he warned, "We must remind Russia's leaders that the benefits they enjoy from being part of the civilized world require their respect for the values, stability and peace of that world."

President Bush was slow right side the mark. The image of him chatting up Vladimir Putin in Beijing while Russian tanks were crashing into Georgia (population 4.5 million) was not helpful. Perhaps President Bush has a dilatory blend. It required a day or two for him to procure his footing later Sept. 11. But now, finally, he has decided to send Condoleezza Rice to confer with Nicolas Sarkozy and afterward on to Tbilisi to show the flag. The humanitarian airlift, with its clear echoes of the Berlin airlift of 1948, is a bracing substantive and public relations move.

According to the Wall Street Journal, the Russians are permitting their Ossetian allies to burn villages, loot, and rob. The Russian soldiers are helping themselves as well. "The whole city is full of marauders," said one eyewitness who fled Gori. "Who in the globe is going to help us?" wailed undivided distraught woman, who then answered her own question by sobbing, "Nobody cares."

Americans had already expressed misgivings about Barack Obama's preparedness for the rude world we inhabit. This laboratory test be able to only increase that anxiety.

To discover at a loss more relative to Mona Charen and learned features by other Creators Syndicate writers and cartoonists, go to see the Creators Syndicate Web page at www.creators.com.

COPYRIGHT 2008 CREATORS SYNDICATE, INC.

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The Federal Aviation Administration (FAA) said the fine, one of the biggest ever, also covered accusations of deficiencies in American's drug and alcohol testing programs and alleged violations of inspection procedures for aircraft exit lighting.

American, which be possible to appeal the civil minute, said it had requested a meeting with FAA officials.

"We do not take upon one’s self with the FAA's findings and characterizations of American's prosecution in these cases," the company declared in a statement. "We believe the proposed penalties are excessive."

The FAA proposed a $10.2 very great number gay against Southwest Airlines Co (LUV.N) earlier this year for continuing to fly planes that regulators before-mentioned had not been properly inspected. That mulct has not been finalized.

About two thirds of the fine against American involves alleged maintenance lapses on two MD-83s in December 2007, the FAA said.

It informed American last December that it had improperly deferred maintenance on an autopilot system on the other hand flew the plane on 10 more flights previous to fixing it.

Later that month, preservation personnel failed to thoroughly check the same plane for another problem, again deferring work behind consulting the wrong equipment guidelines, the FAA reported.

In another MD-83 incident, personnel deferred work again using the wrong equipment guidance and failed to lay open an autopilot problem, the FAA said.

"The aircraft operated four (flights) without a fully functioning autopilot," the agency said.

Regulators believe the fine is take as one’s own because American was aware that the repairs were needed attached the two planes and deferred action.

"In intentionally continuing to fly the aircraft the carrier did not follow important safety regulations intended to harbor passengers and crew," the FAA declared.

The proposed clear was also unrelated to recurring inspection lapses involving MD=80 series aircraft this past spring.

American canceled more than 3,000 flights through the whole extent of different days in April after FAA inspectors, under pressure from Congress to toughen its oversight of industry, uncovered inspection shortcomings and uncompleted security work on American's MD-80 fleet.

Other airlines were also cited towards inspection lapses and had to ground planes and cancel flights.

(Editing by Carol Bishopric and Tim Dobbyn)

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