George Noorey

ON AIR NOW

George Noorey

12:00am - 5:00am

Contact
Business News


Markets started higher yesterday then sold off as we had a very strong US Treasury auction that drove rates on the 10-year note to 2.7%. As we start today the S&P 500 is essentially flat for 2014. (CNBC)

New unemployment claims for last week were down 10,000 to 311,000. That is a good number and shows a strengthening job market over the next six months. (Reuters)

The final reading on fourth quarter gross domestic product was revised up to 2.6%. The private sector grew much quicker and government showed contraction. (Reuters)

Beer is big business in Oregon with 188 “brewing establishments” of which 50 are in Portland and 18 in Bend. (Oregon Live)  Other Oregon brew facts include:

5127 persons employed by the industry.
$28,190 is the average worker pay.
Oregon holds 5.7% market share of the national craft brew industry.

For decades a lot of companies claimed severance packages for terminated employees was not subject to Social Security and Medicare taxes, claiming they were supplemental unemployment benefits.  On an 8-0 vote the Supreme Court put an end to that practice. Over $1 billion in tax revenues and potential refunds were at stake in the case. (Bloomberg)

Traffic

 

 

  • Click on the link for the latest conditions on the mountain passes.

 

  • Purcell Boulevard Northbound lane between Neff Road and Full Moon Drive (West side of the hospital) is closed until December 20th.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.