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Joe Pags

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Tax day was a wild one for equity markets as prices went from high too low and back too high again.  Volatility is back after what seemed like a long absence. (CNBC)  

While we slept China posted better than expected GDP growth of 7.4% during the first quarter of the year.  That number is slightly lower than the 7.7% to end 2014 but shows their economy is not falling apart. (Fox Business News)

Bank of America lost $514 million last quarter as litigation by the Fed’s over mortgage issues took a big bite out of the bottom-line.  Last year the nation’s second largest bank posted a $1.1 billion profit. (Reuters)

PC sales totaled 73.4 million during the first three months of 2014, down 4.4% from last year. That could have a big impact on Oregon’s largest employer, Intel, whose chips dominate the PC market.  Intel is projecting its third straight year of flat sales in 2014. (Oregon Live)

Now that that your taxes are in the mail we can assess the damage.  The top 1% of wage earners will pay an average tax bill of $525,231 up $36,000 from last year.  The top 1% will pay over 53% of all federal taxes in 2014. (CNBC)
 

Traffic

 

 

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

 

  • I-84,Troutdale MP 17 - 62, in the Coumbia Gorge remains closed. The highway is closed EB at Exit 17 in Troutdale. Trucks use US-26 to OR-35 as an alternate route.

 

  • Construction at 27th Street . Northbound Lane Closed from Ferguson to Bear Creek.  Detour in place.

 

  • 27th and Bear Creek Rd intersection varying traffic control changes

 

  • O.B. Riley Road South-bound lane closed south of Mervin Samples Rd (12/17)