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Business News


The holiday is over and it is back to work.  Diversified healthcare company, Johnson and Johnson posted a profit 35% higher than last year. The $3.52 billion profit came despite an $800 million charge for recall of defective “metal-on-metal” hip replacement  devices. (Reuters) 


Verizon sales rose 3.4% as it added more wireless subscribers.  Profits were up 19%.  Both good numbers.  Traders look to next month to see if they have lost customers to T-Mobiles aggressive pricing. (Reuters)

Oregon’s largest employer, Intel, says they will cut their workforce 5% or about 5400 jobs this year.  What that means for Intel’s 17,000 Oregon jobs is not yet know.  The company is struggling with the transition from PC’s to mobile computing as currently two thirds of their production is for the declining PC market. (Associated Press)

Oregon media measurement company Rentrak stock is jumping after signing CBS to a ratings agreement.  The CBS deal helps them break into the national market and the strangle hold once held by the Nielsen rating company.  Rentrak stock almost doubled in 2013 and is up another 33% in 2014. (Bloomberg)

US oil production grew in 2013 by 15%.  That is the fastest annua growth of any country in the last two decades. (CNBC)
 

 

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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