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Business News


 

Today marks the beginning of the Woodstock for Capitalism in Omaha Nebraska as Warren Buffet kicks off the weekend long events surrounding the Berkshire Hathaway Annual Meeting. 

 

The Department of Labor says the economy added 165,000 jobs in April with the private sector adding 176,000 and government shedding 11,000.  February (322,000) and March (138,000) were revised upward huge.  The February jobs gain is now the biggest since March 2005.

 

Firearms maker Sturm, Ruger & Co. hit the bulls-eye in Q1 as profits exploded 53% as gun sales surged. The company doubled their dividend for the year to 49 cents a share.  The company says demand will remain strong, as in-store gun inventory is one-third what it was last year.

 

Oregon electron microscope maker, FEI, saw sales grow 1.7% last quarter, its slowest rate of growth since 2009. Despite the slower growth the company expects to post record sales in 2013, the fourth consecutive annual record.

 

Crude oil supplies in the US rose to their highest levels on record this week.  This comes as the demand for gasoline slumped almost 4% last week.  Combined this could mean good news for drivers.

 

Oregon railcar builder Greenbrier will be laying off 200 of the 817 workers at their northwest Portland production facility. The layoffs are due to declining orders.  Greenbrier has struggled recently even as other producers are booming.

 

The S&P 500 is up 9 and the NASDAQ is up 16.

 

Oil is up $1.25 at $95.25 a barrel.

 

Gold is down $10 at $1459 a Troy ounce.

 

 

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.

 
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