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It is Veterans Day! Stock markets are open and the bond markets are closed.  Thank you to all who have served our nation.

Portland-based Erickson Aircrane has filed for bankruptcy protection. Erickson is filing a plan of reorganization with support of its major creditors. The company will continue normal operations as it undergoes the relief process. Erickson employs 1,000 persons. (Reuters)

Macy's is selling off more of its valuable real estate holdings. The retailer has sold its downtown Portland store for $54 million, and will net Macy's about $36 million. The store will close next spring. The historic building has housed Meier & Frank and later Macy's since 1909. Macy's bought Meier & Frank in 2005. They will also close the Salem store in Lancaster Mall early next year.  They plan to redevelop 50 other stores. It is not clear if any other Oregon stores are included in this group. (Reuters)

Nordstrom reported a quarterly loss of $10 million, after reporting a profit last year. They had $3.54 billion in sales. (AP)

Join us this weekend for Financial Focus Radio at 9:00 a.m. when we will talk about what President Trump will mean to your wealth building efforts.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.
 

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Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

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  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.