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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)
 

 

Traffic & Weather

 

 

 

 

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

 

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.

 
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