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Business News


Today at 11am we hear from the Federal Reserve and the results of their two day meeting.  We will also hear from Chairman Yellen at her first post meeting press conference.

 

The number two package delivery company, FedEx, posted disappointing earnings for last quarter citing “brutal winter weather”.  Sales were up 3% to $11.3 billion as ground delivery picked up, but special delivery was flat.  The company posted a quarterly profit of $378 million.  (Reuters)

 

You will soon be able to pay for that Whopper with your smartphone at Burger King with their new ap.  The move is targeted toward attracting younger customers. The company says the next step is to allow preordering for pick-up when you arrive at the store location.  (Bloomberg)

 

It has been a tough year for ski resorts, but one Oregon resort will not even open this year.  Mt. Ashland in the Siskiyou’s will not open for the first time in 50-years due to lack of snow. Economic impacts mean the loss of 130 jobs, $10,000 per month not spent on diesel for snow cats and the loss of $2500 of propane a month and $9000 per month in power bills. (Oregon Live)

 

A measly $1000 is all 36% of workers have saved for retirement, but that is up from 28% last year. A whopping 90% of households have some type of retirement account.  (Employee Benefit Research Institute)

 

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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