Here's the original story: http://www.alaskadispatch.com/articl...er-fire-island

Sounds like the AS plane had to go-around because the Beechcraft had not cleared the runway. Then, somehow both planes went in the same direction with the Beechcraft climbing. According to the article, TCAS on the AS plan went off. The article also suggests that the AS pilots could see the smaller plane.

With both visual separation and TCAS doing its job, perfectly safe. But, perhaps closer than other "near misses" you read because they got close enough for the TCAS to actually go off.