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George Noorey
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George Noorey
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Business News


The St. Louis Federal Reserve published a paper blaming the low level of inflation in large part on consumers and their "willingness to hoard money." There is lots of cash sitting around. Banks have put away close to $2.8 trillion in reserves, and households are sitting on $2.2 trillion in savings—about a 50% increase over the past five years. (CNBC)

Harvard, with the world's largest university endowment, is still seeking to recover from a 27% investment loss incurred during the financial crisis.  So Harvard alumni are upset about paying endowment management $132.8 million in salaries, bonuses and benefits last year, up from $63.5 million in 2010. The endowment management company, oversees the university's $32.7 billion endowment, employs 324 people, up 19% from 2009. (Bloomberg)

Back to school and parents are worried.  Nearly two-thirds of parents with children ages 15 to 17 worry that college costs will jeopardize their ability to save for retirement. About half of parents say they don’t have a plan to pay off their children’s student loan debt. Moral to the story – don’t jeopardize your retirement to put your kids through college and it is your kids debt not yours. (Chicago Tribune)

U.S. banks' are lending money as loan balances hit $8.11 trillion in the second quarter, marking a 2.3% jump from the first quarter, the biggest quarter-over-quarter increase since late 2007, and the first time U.S. bank lending has surpassed $8 trillion. (BAI Research)
 

 

Traffic & Weather

 

 

 

 

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:

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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