New home sales in December fell 10.4% to an annual rate of 536,000 homes. Sales totaled 563,000 in 2016, up 12.2% year over year their highest since 2007. (Commerce Department)
Bank of the Cascades fourth-quarter profits jumped 43% to $5.9 million. Net income for 2016 was $16.8 million compared with $20.6 million in 2015. In 2016 the BOTC paid $4.9 million in merger-and-acquisition expenses lowering profits. (PR Newswire)
All that Facebooking takes some juice. Prineville, the home to several large data centers for both Facebook and Apple is running low on electricity. That means plans for a proposed factory cannot be supported on the current power grid. The factory could provide 300 additional jobs if electricity can be provided. (Oregonian)
Microsoft posted a 3.6% jump in profits for the quarter making $5.2 billion. Revenue, excluding LinkedIn, was $25.838 billion. Their LinkedIn division had revenue of $228 million in the quarter, equaling a loss of $100 million. Microsoft's shares re up 23.2% in the past 12 months. (Reuters)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.