George Noorey

ON AIR NOW

George Noorey

12:00am - 6:00am

Contact
Business News


Earnings season is out of the gates as Alcoa swung a 4th quarter profit of $159 million after losing $2.34 billion last year, thanks to strong growth in its aerospace and automotive businesses and a rebound in prices for raw aluminum. Sales rose 14% to $6.38 billion. (Wall Street Journal)

Another sign the sun maybe close to setting. Salus Capital Partners is making an unsolicited offering to loan $500 million to RadioShack in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy. RadioShack, whose sales have been dropping since 2010, said in September that a bankruptcy filing was a possibility. (Wall Street Journal)

Burgers are the “largest dine-out segment” in the U.S., with more than $72 billion in sales last year. That makes it twice the size of the pizza market, the next largest category. Burgers are “the quintessential American meal,” but are also popular overseas, with an estimated global market size of over $135 billion. (Wall Street Journal)

Oil is down $1.41 at $44.63 a barrel.  The price fall is a result of rising output, especially of U.S. shale oil. At the same time, producers from the Organization of the Petroleum Exporting Countries (OPEC) have not cut output, instead offering discounts to customers in an attempt to defend market share. The downward pressure on prices is so big that even record Chinese crude imports for December. (Reuters)
 

Traffic

 

 

  • Click on the link for the latest conditions on the mountain passes.
  • Roundabout at intersection of NW Shevlin Park Road and NW Mt. Washington Drive for roundabout reconstruction, road closure with detours, 5/13/19 - 6/27/19.
  • SE Cessna Drive between SE Piper Drive and SE Craven Road for waterline installation, road closure with detour, 5/20/19 – 6/6/19.
  • NE 6th Street between NE Greenwood Avenue (US Hwy 20) and NE Majesty Lane for asphalt speed hump installation, pavement markings, and concrete work at several intersections, rolling one block closures and detours along with day time flagging, 4/29/19 – 6/15/19.
  • Brosterhous Road between American Lane and Jacklight Lane for sewer main installation, southbound lane closures with detours, until 7/15/19.
KBND ON FACEBOOK
 
 
FOLLOW US ON TWITTER