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Joe Pags
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Congratulations to Andy Lane and Ken Nolan! Winners of the 7 Wonders of Oregon contest at All Seasons RV and Marine!
Business News


 

It was the Fifth Dimension that sang “Up Up and Away in my Beautiful Balloon” and they could have been singing about this market as the S&P 500 hit new record highs yesterday.  But remember nothing defies gravity forever.

 

On the earnings front:

 

·       Northwest fitness equipment maker Nautilus is back from the brink of two years ago posting an over 15% increase in sales and a profit pop of over 200% in the latest quarter. New products and leadership are making the difference.

·       Oregon electronic display company Planar, posted strong quarterly results increasing sales 22% year-over-year but still lost money for the ninth consecutive quarter. The company expects strong sales growth to continue and say they will post a profit for the full year.

 

New unemployment claims came in at 323,000 down 4,000 and another 5 year low.  That is good jobs news.

 

Dave’s Killer Bread sold 50% of the family ownership to Goode Partners late last year.  In the next step to make the company a national bread chain, they have named a new CEO.  John Tucker will take over on May 15th, replacing 3rd generation family member Shobi Dahl.

 

Daimler Trucks North America said sales slipped 6% in the area serviced by its Portland production facility. The Portland plant layed off 230 people in February.  They do see a light on the horizon as incoming orders are up 32% from a year ago.

 

The S&P 500 is down 3 and the NASDAQ is down 8.

 

Oil is down 75 cents at $95.75 a barrel.

 

Gold is down $12 at $1460 a Troy ounce.

 

Traffic & Weather

 

 

Ferguson Road closed between 15th Street and King Solomon Lane. (6/13)

 

Round-About Construction:

 

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

 

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

 

Lane closures, flaggers on Skyliners Road (5/25)

 
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