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George Noorey
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George Noorey
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Business News


As we approach what may be the first federal government shutdown in 17 years, markets continue to be in turmoil.  Long-term investors need to remember that we believe this will be a short-term news event, not a long-term market event.  It was just 10 months ago we went down this path.  Like Yogi Berra said “it is deja vu all over again”.  The bad part of this current debate is that it appears the fix may only be for a couple months so the turmoil may continue. (Bloomberg/Associated Press)

Today marks the end of the third quarter.  Even at the pace of the current sell off it looks like both the month and quarter will be positive for the S&P 500. (Fox Business News)

China’s factory activity expanded at a slower than expected rate in September according to the HSBC Purchasing Managers Index. The measure showed expansion at 50.2 slightly higher than August, but still below what was expected.

Politics are also driving markets overseas.  It appears that the coalition government in Italy is falling apart.  That has sent Italian bond interest rates spiking.  European markets are down about 1% across the board. (NBC News)

Under the category “is he a dinosaur or a visionary”.  Time Warner CEO Jeff Bewkes says he does not think that the soon to be released Intel TV and others like Net Flix will disrupt the traditional TV distribution model. He says there is just too many technical difficulties to overcome.  And they said man would never fly. (Variety)
 

 

Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

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

 

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

 
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