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Business News


Markets threw a taper tantrum yesterday as the Federal Reserve continued doing what they said they would do and slow the pace of liquidity being added to our economic system. In addition foreign currency worries – that were not even on the radar screen a couple weeks ago – have traders wringing their hands. (Fox Business News)

The first look at fourth quarter GDP says the economy grew 3.2%, in line with expectations.  Declining Federal spending of 4.9% was a drag. (Department of Commerce)

The big brown truck – UPS – posted profits about 6% lower than last year in the fourth quarter on sales that were almost 3% higher.  During the quarter the company delivered an average of 20 million packages per day.  At the peak on December 23rd they delivered 31 million packages. (theflyonthewall.com)

The world’s largest publically traded company – Exxon Mobil – said profits dropped 16% during the last quarter to $8.35 billion.  Their total oil and natural gas production fell 1.8%. (Reuters)

In 2010 the federal government allowed American to make tax free charitable contributions up to $5 million.  With that Americans opened their wallets making record gifts of $122 billion in 2012 more than 4 times the amount the year before. Most of the gifts, $84 billion came in gifts exceeding $1 million and were made by fewer than 30,000 people. (Bloomberg)  
 

 

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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