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Business News


Today the political theater will be thick as Janet Yellen goes before the Senate Banking Committee in her quest to become the next Chairman of the Federal Reserve.  The hearing could move markets like yesterday when stocks rallied after Yellen’s testimony for today was released indicating easy money may not be going away soon. (Fox Business News)

New applications for unemployment came in at 339,000 last week. That is down 2000 from last week. (Reuters)

Productivity in this country was up 1.9% last month.  This number shows US businesses continue to find ways to do more with less. (Bloomberg)

Wal-Mart posted profits 5.5% higher than last year but same store sales fell 0.3%.  Wal-Mart says their customers continue to be challenged in this economic environment and that is impacting sales. (Reuters)

Retailer Kohl’s shares are down sharply as they reported a profits decline of 11% from last year on revenue that was essentially flat. Same store sales declined 1.6%. (Reuters)

Oregon chipmaker Triquint Semiconductor is offering buyouts to employees as they work to reduce their Hillsboro factory workforce. The company has added too much capacity over the last year and is looking to match capacity with orders. (Oregon Live)
 

 

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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