>>Fitch Downgrades U.S. Debt Rating
(New York, NY) -- Fitch is downgrading its U.S. debt rating from the highest AAA rating to AA+. Several factors were cited, including a "steady deterioration in standards of governance" over the last two decades. Fitch said the U.S. suffers from an "erosion of governance." While the rating dropped, the new one is among the highest possible. Fitch is one of three major credit rating agencies that evaluate ability for companies and countries to repay debts.
>> YRC Freight Closure
The sudden closure of Yellow Freight led to around 30-thousand lay-offs nationwide, but it’s unclear how many of those are in our state. Yellow has seven terminals in Oregon, including in Portland, Eugene and Redmond. It conducted business under several names - like USF Reddaway and New Penn Motor Express. In a notice to state officials, the company says all operations shut down July 30th, terminating all employment at all locations.
>>Meat Inspection Bill
Governor Tina Kotek has signed a bill sending nine-million dollars to the Oregon Department of Agriculture’s meat inspection program. The funding is part of an ongoing effort by the ODA to boost economic development and enable Oregonians access to locally produced meat products. In July of 2022, Oregon became the first on the west coast with a state meat inspection program. It was in response to reports from ranchers who faced 18-month wait times to process their livestock, because there were so few in-state options. ODA says the state program isn’t meant to compete with the USDA, but complement the federal program and allow smaller local businesses to produce, process and ship statewide.
>>Amazon Issues Urgent Scam Warning
(Seattle, WA) -- Amazon is out with an urgent scam warning to customers as con artists launch new schemes. The online retail giant is alerting customers to scams involving phone calls, texts, and emails. One involves a reference to your Prime membership or an expensive membership fee, with scammers asking folks to confirm or cancel the charge, along with providing payment or bank account information to reinstate a membership. In another, users are told their account will be suspended or deleted, then are directed to click on a bogus link or verbally provide information to verify the account. Amazon is reminding customers it "will never ask you to provide payment information for products or services over the phone."
>>Striking Writers, Hollywood Studios To Resume Talks Friday
(Los Angeles, CA) -- Striking writers and Hollywood studios will start talking again this week. The writers' union, the Writers Guild of America, confirmed Tuesday night that it will resume talks with the Alliance of Motion Picture and Television Producers about negotiations on Friday. That confirmation came hours after Deadline reported that both the writers and the studios had a new sense of guarded optimism as the strike heads toward its 100th day next week.
>>Job Openings Fall Slightly In June
(Washington, DC) -- The number of job openings in the U.S. is down slightly. New government figures show there were just under nine-point-six-million openings in June which is a slight drop from May. The number of workers who quit in June decreased to three-point-eight million. Healthcare and social assistance led the number increases in job vacancies for the month.
>>California Politicians Ask Swift To Postpone Shows
(Undated) -- Some California politicians are asking Taylor Swift to delay her Los Angeles shows in solidarity with striking hotel workers. Democratic Lieutenant Governor Eleni [[ UH-lay-nee ]] Kounalakis [[ Koon-ah-lah-kiss ]] joined other officials Tuesday along with Unite Here Local 11 to call on Swift to show her support. The pop star is set to perform six sold-out shows starting this week. In their letter, they point out that while hotels jack up their prices for a big event like a Taylor Swift show, many housekeepers and other workers are fighting for a living wage.
>>CVS Lays Off 5,000 Employees
(Woonsocket, RI) -- CVS is laying off five-thousand employees. The layoffs will happen in what the company calls "non-customer facing positions," mainly corporate staff. The drugstore chain said it's "evolving to adapt to new consumer health needs and expectations." The "Wall Street Journal" first reported the news, saying the change is part of CVS's efforts to move towards a focus on health services
>>New Times Publisher Kills Self
(Superior, AZ) -- The man who helped turn an alternative weekly newspaper into a massive chain killed himself Monday, just before his federal trial on charges he used online classified ads to facilitate prostitution. James Larkin shot himself in Superior, Arizona, about an hour east of Phoenix where he was originally ran the business side of the New Times. Known for its journalism, exposes and coverage of the arts, the New Times eventually took over alternative papers in several cities, including New York City's Village Voice. But Larkin was also accused of using the online advertising site Backpage to run what law enforcement says were barely disguised ads for prostitution. He was 74.
