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George Noorey
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George Noorey
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Business News


We finished May at record levels on the S&P 500.  The index advanced 2.1% during the month and is up 4.1% on the year.  (Fox Business News)

While we played this weekend China reported that their manufacturing sector expanded at the fastest pace in five months.  China has undertaken a mini-stimulus plan over the last few months that appears to be working. (Bloomberg)

The free market is back at work again.  Since government subsidies started declining in 2010 investments in renewable energy, like wind and solar, has declined 5% in North America to a low of $56 billion. That compares to $168 billion spent on exploration by the oil and gas industry. (Bloomberg)

Two new reports say the US could create a million new jobs and lower its energy bill if it ended its crude oil export ban.  The US is producing more oil and gas than it has in 40 years. Lifting the ban could mean $750 million in investment over the next 15 years in our new oil patches. (Reuters)

The National Labor Relations Board has ruled the longshoreman union at the Port of Portland has illegally undertaken an intentional worker slowdown. The NRLB has issued a “cease and desist” order to the Union. (Oregon Live)

 

Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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