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Business News


Umpqua Bank posted fourth quarter earnings that were in line with expectations. For the entire year profits were up 1% and for Q4 were down 5%.  Loan growth was up 10%, but mortgages were down 47% as refinancing slows. (Business Wire)

McDonald’s posted fourth quarter profits 1.5% higher than last year.  Sales were up 2%.  The company saw same store sales declines in December almost across the board.  Company leadership acknowledged 2013 was a challenging year. (Reuters)

The Portland Airport served a record 15 million travelers in 2013, breaking the last high water mark set in 2007.  December was also a record month up 10% from 2012.  (OregonLive)

For investors when the heard starts running all in the same direction it is usually time to start worrying.  While not frothy a survey of Bloomberg subscribers last week said 59% say the economic outlook is improving.  That is up from 33% in November. (Bloomberg)

In a positive economic sign US job openings and the number of people quitting their jobs reached five year highs in November.  Job openings were up 1.8% and those quitting was up 1.9%.  Job opening levels reached 4 million for the first time since March of 2008. (Associated Press)
 

 

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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