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Business News


One mega deal is alive – another is dead.  Drug maker AstraZeneca has rejected Pfizer’s final $116 billion buyout offer. Pfizer says it will not go hostel.  AT&T is buying DirecTV for $48.5 billion or $95 a share.  Only one-third of DirecTV’s 70 million subscribers are already AT&T customers. (Barron’s)

Mickey Mouse is asking a lot more to visit the California Magic Kingdom.  A Disney Park Hopper pass is going up 9.5% to $150 and a one day/one park pass is going up 4.3% to $96 a day. (Buzz)

Tires prices are getting some downward price pressure as natural rubber supplies build on a four year surplus. Rubber prices have fallen 62% since the peak in 2011.  Big global suppliers of rubber include Thailand, Vietnam and Indonesia. (Bloomberg)

New housing starts surged 13% in April.  Leading the jump was a 43% increase in multi-family units.  Single family starts were up 1% for the month.  Home ownership stands at 64.8% and is below the 50-year average of 65.4%. (CNBC)

Along with their diploma the average college graduate in the class of 2014 will get a bill for $33,000 in student loans.  That makes this year’s class the most indebted ever. Over 70% of all graduates will have some student loan debt upon graduation, which is close to double what we saw just 20 years ago. (Wall Street Journal)

 

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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