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Lars Larson
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Lars Larson
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Business News


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 & 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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