Bellingham Business Journal, February 02, 2015

Page 1

Vol. 23 No. 2

Feb 2015 Ski shops invest in new inventory, equipment in wake of Sportsman Chalet closing [Page 10]

The Buzz Real estate market could start 2015 strong An increase in pending sales last December is a good sign for early 2015, according to a report. REAL ESTATE, 6

Rental registration Rick Sepler, Bellingham’s community and planning director, discusses the city’s rental registration program. RENTAL REGISTRATION, 12

State DOR director returns to banking Carol K. Nelson left the state Department of Revenue last month for a regional position with Key Bank. BANKING, 21 Terry Dawydiak and Jodie Wilson of Vancouver, B.C., load groceries into their car at Trader Joe’s. The couple said the Canadian dollar will have to fall a bit more to keep them from shopping in Whatcom County. OLIVER LAZENBY PHOTO | THE BELLINGHAM BUSINESS JOURNAL

Business toolkit

Loonie plummets after months of slow decline

Learn about a 401(K) option for the self-employed and see how social media site users break down by demographic.

Whatcom County shopping is still a bargain for some Canadians

TOOLKIT, 22

BY OLIVER LAZENBY The Bellingham Business Journal The Canadian dollar lost five cents in value compared to the U.S. dollar in one day last month. It dropped on Jan. 21 after the Bank of Canada lowered its benchmark overnight interest rate from 1 percent to 0.75 percent. The benchmark rate determines bank lending rates, and lowering it is one tool central banks use to increase money supply. The Bank of Canada cut rates in

response to the drop in oil prices. At press time the Canadian dollar was worth 81 cents compared to the U.S. dollar. That’s a 20-cent drop from January 2013, when the Canadian dollar was worth $1.01 U.S. Despite the drop, shopping in Bellingham is still a bargain to some Canadians. Cars with British Columbia license plates filled the Trader Joe’s parking lot on James Street in Bellingham on Saturday after the Canadian dollar dropped. Terry Dawydiak and Jodie Wilson of Vancouver, B.C., come to Whatcom

County to shop a couple times a month, and the weak loonie won’t keep them away, they said. “Even with the 20 cent difference in value it’s still a bargain to shop here,” Dawydiak said. “Not as much, but it’s still worth it. It has to drop a bit more before

Canadian dollar, PAGE 5

Bellingham’s Best Marine Store Pacific Northwest cards, books, & gifts Outdoor clothing, TEVA & Merrell shoes Toys for kids & adults

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851 Coho Way, Bellingham, WA • 734-3336 or 800-426-8860 Shop anytime online at: www.LFSMarineOutdoor.com


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