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Business News


It is day 7 of the government shutdown and markets have seen more volatility than we have seen in several months.  Government economic reports continue to be delayed so as earnings season starts, profit and loss statements may get even more attention.  The head of the credit rating agency Moody’s, says he thinks a US credit default is unlikely, but could be managed for a short period of time. (Fox Business News)

The US dollars has weakened for the last five weeks as the shutdown weighs on the economic growth prospects in the US.  The weaker dollar is a positive for exporters as our products become cheaper overseas.  On the downside historically a weaker dollar tends to result in higher than normal gas prices. (Bloomberg)

The Medford based specialty fruit seller Harry & David enters its third year post-bankruptcy, announcing a 2013 fiscal year profit of $13 million on $380 million in sales.  The company recently acquired $100 million in financing for its 2013 holiday season inventory.  Over the last two years the company has closed 52 of its 122 retail stores. (Oregonian)
 


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