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Business News


In her first post meeting press conference yesterday Federal Reserve Chairman Janet Yellen told us what we already knew and that sent Mr. Market into a tail spin as markets sold off a little more than half a percent.  It is expected the Fed will start to raise interest rates in late 2015 as long as the economy continues to improve.  Lots of action on little news.  (Market Wire)

Just four months removed from Black Friday and 280 days till Christmas, Wal-Mart is firing the first shot in fighting for your spring shopping dollar.  Tomorrow the company is putting pressure on Lowe’s and Home Depot as they slash prices on lawn mowers, patio furniture and outdoor living supplies.  The Easter selling season makes up a huge part of retailer revenues and Wal-Mart is angling to regain momentum after a year of same store sales losses. (CNBC)

Umpqua Bank is suing Target over that big holiday security breach.  The bank says they will be left hanging with fraudulent charges as a result of the breach.  They say Target was negligent and not current in providing card security.  The Consumer Bankers Association puts the cost of card replacements alone at $200 million. (Portland Business Journal)

BMW says their profits will grow in the high single digits in 2014.  BMW, Audi and Mercedes are in a fight to see who claims leadership of the luxury car market. (Bloomberg)

 

Traffic & Weather

 

 

 

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

 

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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